With demand for real estate picking up, General Insurance Corporation of India (GIC) Housing Finance is targetting disbursal of Rs 750 crore housing loans this year, a top official of the institution has said.
Due to economic slowdown, GIC’s housing loan disbursement had been ’static’, but it would pick up by the second half of this fiscal. Till september this year, the disbursal was Rs 290 crore, M Sivaraman, managing director, told reporters here last night.
Last year’s disbursal was Rs 600 crore, he added.
Since August 2008, the demand for housing was stagnant, while there was large scale correction in price level of real estate sector. Prices of property have been corrected by 25 per cent ot 30 per cent in the market, Sivaraman said.
More : business-standard.com
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