LIC HFL kick starts property expo in B'luru

LIC HFL kick starts property expo in B'luru

The sixth edition of “Nimma Mane”, a property expo organised by public sector housing finance company, LIC Housing Finance (LICHFL) was inaugurated here on Friday.

The expo, being held at Ulsoor’s RBANMS Ground, is aimed at connecting the real estate companies with home buyers. It will be open till June 24, 2018.

Vinay Sah, MD and CEO of LICHFL, who inaugurated the event, said the company is expected to generate at least 2,500 leads from this event, with a conversion rate of almost 30%. At the event 50 realtors catering to the affordable housing segment have put up their stalls.

“The Event should be termed as R3 event -- reviving and reconnecting with realtors,” he said.

Sah sounded upbeat about Bengaluru housing market during his inaugural speech. “Bengaluru is coming up in a big way on our map,” he said.

Last year in 2017-18, the city had contributed around 10% of the total housing loans disbursed across the country by the company.

Incorporated on June 19, 1989, the company has completed three decades of its existence. “We have entered 30th year of our formation. We take pride in the fact that we have done really very well in these years.”

Propelled by the Pradhan Mantri Awas Yojana (PMAY), the company saw disbursement of Rs 50,000 crore of the loans in 2017-18, showing a jump of over 20%.

Around 10% of disbursement for the the company come from Karnataka market on an incremental basis, he said.