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NT Bureau
Chennai, Aug 25:
 

S K Mitter, director and Chief Executive of LIC Housing Finance Ltd, having a look at one of the stalls in the exhibition 'Ungal Illam 2007'.

        Close on the heels of the success of its earlier expositions, LIC Housing Finance Ltd (LICHFL) has unveiled its 10th edition of housing loan expo 'Ungal Illam 2007' at Valluvar Kottam in Chennai yesterday.

        With a special 10.5 per cent (regular rate is 11.25 per cent) rate of interest, the spot sanction of home loans would be an added attraction to visitors at this three-day exhibition.

        Inaugurating the home loan mela, S K Mitter, director and chief executive, LIC Housing Finance Ltd said, 'this exhibition is a significant event in the housing industry and serves as a platform for builders to showcase their projects. Moreover, customers could get details of various housing project besides availing loans all under one roof.'

        Interestingly, the mega property fair, a traditional event organised by LICHF Ltd, is aimed at bringing the home seekers and home providers together at a single platform. The event mainly showcases the ongoing and future properties of more than 50 prominent and reputed builders from the city. The other products on display will be home need based and allied products.

        'For customers registering at the venue the processing fee would be Rs 5,000. We are also providing value-added services to the customers in the form of specialised legal, technical and tax advisory services at the venue,' he said.

        Detailing about the loan disbursement, Mitter said, 'the company has disbursed loan to the the tune of Rs 683 crore out of which the southern region accounts for Rs 471 crore.'

        The LICHFL expects the three-day exhibition to generate a business of Rs 100 crore and the Chennai office is planning to disburse Rs 850 crore this year.

        The exhibition has 60 stalls with a sizeable realty majors from Chennai. The projects showcased at the stalls include two and three bedroom multi-storeyed apartments in localities including Perambur, Ayanavaram, Korattur, Velachery, Tambaram, Selaiyur and Tiruvanmiyur. The exhibition will be open from 10 a m to 8 p m till tomorrow and the entry is free.

        About LICHFL, it is one of the largest housing finance provider in the country having a network of 110 marketing offices, 14 back offices and 6 regionl offices across the country and supported by a marketing network of more than 1000 direct selling agents, 4000 home loan agents and 300 customer relation associates.

        The company is also having representative offices at Dubai and Kuwait. It also enjoys AAA credit rating from Crisil reflecting the high quality of its assets, the strength of its balance sheet and uncompromising credit appraisal standards. The company has granted loans to over 8.50 lakh customers since inception.

        And the company offers a complete range of individual housing loan schemes, such as loans to individual for purchase and construction of new house/ flats, loans to non-resident Indians for purchase/ construction of flats/ houses, loans for repairs and renovations, mortgage loans on existing house property, top up loans to professionals.