Personal Finance

LIC Housing sees good growth in South

OUR CHENNAI BUREAU | Updated on July 16, 2011 Published on July 16, 2011


The southern region is among the strongest markets for LIC Housing Finance, with the growth led by Tamil Nadu, according to Mr V.K. Sharma, Director and Chief Executive, LICHF. Addressing media persons at the inauguration of a three-day property fair being organised by it in Chennai , he said housing loan disbursals continued to be strong in the State both in Chennai and the cities including Coimbatore, Madurai and Tirunelveli.

The loan disbursement target for the southern region is Rs 5,500 crore against Rs 4,125 crore last year. The overall growth for LICHF is in the range of 25 per cent. The recent spate of interest rate hikes has made funds costlier for the lender and the borrower. But the enthusiasm in the end-user segment in the southern cities had not yet been dampened.

Mr S. Ramasamy, Regional Manager, LIC Housing, said the annual fair has attracted potential buyers consistently. Last year the fair attracted over 10,000 visitors and generated over Rs 150 crore business. This year the fair is well set to exceed that range. Over 60 builders are showcasing projects, offering apartments over a wide budget range of a few lakh to several crore rupees.

Seminar on urban infrastructure

RICS India will organise a two-day conference on ‘Planning and Delivering Urban Infrastructure in Indian Cities' in New Delhi on August 10 and 11. The conference to be inaugurated by the Minister for Urban Development, Mr Kamal Nath, is supported by the Urban Development Ministry and the UK Trade and Investment. The event will provide a platform to share knowledge and experience of global cities and their plans for sustainable growth. Organised under the ‘RICS Vision for Cities' programme, the event will look at the urban growth anticipated in India and how satellite cities and urban corridors can accommodate the burgeoning population.

The conference deliberate and discuss a clear vision for Indian cities; planning of new cities in urban corridors; regenerating existing areas in cities, building capacity of built environment skills; the role of technology in efficient planning and delivery of sustainable infrastructure. Key stakeholders including the Central and Sate Governments, urban local bodies and industry leaders will be present. RICS will release a report titled ‘The future of private finance initiative and public private partnership' on the challenges and opportunities in PPPs.

TVH in Singapore

The Chennai-based TVH (True Value Homes India Pvt Ltd) has opened its sales office in Singapore at International Plaza, according to a press release from the company.

TVH also has a sales office in Dubai, apart from offices all over South India. TVH has completed 6 million sq ft in cumulative residential and commercial space and has projects covering about 12 million sq ft in the pipeline — 9 million sq.ft. in residential and over 3 million sq. ft. in commercial property. TVH is an ISO 9001:2000 & ISO 14001:2004 certified company.

The release quoting Mr N. Ravichandran, Chairman, TVH, said “our focus has been on quality and timely hand over of properties.”

Saint-Gobain launches fire-safe glass

Vetrotech Saint-Gobain India, a division of Saint Gobain Glass India, has launched a range of fire-safety-glasses.

The glasses are made through an advanced tempering and multi-lamination process to provide fire resistance up to 120 minutes and also provide for aesthetics, safety and high-impact resistance.

This fire-safety product range finds application in hotels lobbies, staircase, theatres, exhibition halls, airport, stadium, hospital, libraries and commercial buildings. These are used for interiors and exteriors as they gracefully blend with the architects' design.

Other than fire alarms, fire exit plan, smoke detectors, fire sprinklers, installation of fire resistant glass in critical areas of any building will ensure an enhanced precautionary set-up against fire accidents.

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