City Lights: LIC Housing launches home loan scheme for self-employed

LIC Housing launches home loan scheme for self-employed

LIC Housing said it is planning to roll out a new housing loan scheme for self-employed people wherein monthly loan repayment schedule might be tweaked to daily or quarterly. "Other than the Equated Monthly Installments (EMIs) system (meant for service class), we are planning to have an arrangement for self employed category in such a manner that where money (housing loan installment) can be deposited (by borrower) on daily basis or quarterly basis," LIC Housing Finance Director and Chief Executive V K Sharma said. The LIC promoted housing finance company will target wide variety of sectors including small businessmen traders, farmers, shopkeepers etc for this new housing loan facility and plans to launch this loan scheme next fiscal. In an effort to lend more to women, LIC Housing Finance launched woman-oriented home loan scheme 'Bhagya Lakshmi' on January 7 this year wherein interest rate will be 0.25 per cent lesser on home loans if property is in the name of a woman. Sharma said that loan repayment record of women had been excellent which prompted it to extend loan facility at low rates to women borrowers.

Commercial realty taking off in India: RICS Report

On the commercial realty front, India has improved its overall global ranking by 10 places with respect to occupier demand and available space, ranking 9 in Q4 as compared to 19 in Q3 2012, according to the RICS Global Commercial Property Survey. While India still ranks behind Thailand, Hong Kong and China on these parameters, as was the case the previous quarter as well, it has however improved its ranking considerably, as a consequence of which it has improved its performance over Japan. On the investment side, both investment activity and prices are looking to be positive for the second consecutive quarter, with enquires for the office segment being the most pronounced, followed by the retail sector. Overall India is ranked 7th globally in terms of investment demand expectations this quarter as compared to 22nd rank in Q3. The level of distressed properties in the country is stabilising. While the supply of such properties is expected to continue rising in the early part of 2013, the pace will be a lot more modest than has been the case in the recent past, the report said.

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