Date:04/01/2009 URL: http://www.thehindu.com/2009/01/04/stories/2009010457540200.htm

Andhra Pradesh - Hyderabad

Two-day LIC property show

HYDERABAD: Despite present market conditions, a huge potential for housing existed with genuine end users, observed R.R. Nair, Director and Chief Executive, LIC Housing Finance, here on Saturday.

Speaking to presspersons after inaugurating ‘Sontha Inti Sambaralu’, a two-day property exhibition at Institute of Engineers, Mr. Nair said factors such as property prices, purchasing power and home loan interest rates would work out the demand. He agreed that there had been inordinate rise in property prices in some places. “However, there is no dearth of genuine buyers though the present scenario might have affected those looking at property as investment and also speculators”.

The LIC Housing Finance has brought down the home loan interest rates to 9.25 per cent which was the lowest, he said. The property show at the Institute of Engineers, Khairatabad has 37 developers showcasing their projects.

Spot sanction with concessions in processing fee is offered and the show is open till Sunday 8 p.m.