LIC Housing Finance to raise Rs 55,000 cr through NCDs

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Chennai, Sep 15 (IANS) Housing mortgage lender LIC Housing Finance Ltd on Friday said it will be raising about Rs 55,000 crore through issuing non-convertible debenture this year for business purposes.

“We will be raising Rs 55,000 crore issuing non-convertible debentures this year. Till August we have raised Rs 17,000 crore,” Managing Director & CEO Vinay Sah told reporters here.

He was here to inaugurate the company’s 20th edition of ‘Ungal Illam’, an exclusive property fair.

According to Sah, the company is logging a growth of around 15 per cent this fiscal with the retail segment continuing to register growth.

Queried about the impact of Goods and Services Tax (GST) and the Real Estate (Regulation and Development) Act (RERA) on home purchase decisions and consequently on the company, Sah said some prospective buyers are adopting a ,wait and watch’ policy.

He said the demand from those who are buying for investment purposes has gone down while those who buy for self-occupation continue to make their purchases.

Sah said people are waiting to see the prices of housing units to drop following RERA but the prices are neither going up or down.

He said there is some slowdown in the registration of new projects.

–IANS

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