Housing finance major bullish on UP realty market
Central Govt's plan to develop 100 smart cities across India, would be a booster to realty and in turn give impetus to housing finance
Nov 27, 2014
Source : Business Standard


Lucknow: Dewan Housing Finance Corporation Limited (DHFL), India’s second largest private sector housing finance company, is bullish on the housing finance market in Uttar Pradesh.

The company is targetting 150 per cent growth in loan book in the state, against Rs 400 crore to Rs 1,000 crore by March 2016. It also targets to expand its footprint to 30 locations from 16 at present. “is a big market for home loans and has a lot of untapped potential in its Tier II and III towns,” President and COO Deo Shankar Tripathi told Business Standard.

Citing a National Housing Board (NHB) report, he said by 2022, there would be a shortage of 110 million dwelling units in India compared to 63 million currently. Of the current shortfall of 63 million units, urban and rural areas are projected to account for 19 million and 44 million units, respectively. Of urban dwelling unit shortfall of 19 million, UP, Madhya Pradesh, Rajasthan, Karnataka, Tamil Nadu, Maharashtra, West Bengal and Bihar account for 70 per cent.

This clearly showed the potential for housing finance in these regions, including UP, which has the largest population amongst all the states, he noted.

Commenting on the central government plan to develop 100 smart cities across India, Tripathi said it would be a booster to realty and in turn give impetus to housing finance.

"We have already increased our presence in some of the proposed smart cities," he informed.

DHFL loan book outstanding grew 25 percent to Rs 44,742 crore in July-Sep 2014 quarter against Rs 35,805 crore in the corresponding quarter of previous fiscal.

Almost 70 percent of its advances happened in the top 15 urban centres compared to about 85 percent three years back.

"This clearly indicates housing finance market is slowly moving towards smaller centres," Tripathi underlined.

Latest Realty News

Floor area ratio, ground coverage increased in Delhi; move to benefit buyers
Nov 27, 2014
NEW DELHI: The Centre has enhanced floor area ratio (FAR) and ground coverage in Delhi
Realty firm Puravankara enters JV for housing project in Pune
Nov 27, 2014
NEW DELHI: Realty firm Puravankara Projects has entered into a joint venture for developing a 30-acre, Rs 500 crore housing project in Pune
Affordable Housing deficit in UP almost 3 mn : S K Garg
Nov 26, 2014
Lucknow: Uttar Pradesh Government is very much concerned for providing ‘Housing for All’, as the state faces shortage of affordable housing to the tune of 3 million appx.
Govt plans to regularise illegal buildings across state
Nov 26, 2014
HYDERABAD: The state government is planning to regularize illegal constructions across the state by announcing a scheme
Registration, stamp duties to go northwards in Andhra Pradesh
Nov 26, 2014
HYDERABAD: In a move aimed at cash in on the prevailing real estate boom in AP, chief minister Chandrababu Naidu has given his nod for increase in the rate of land registration and stamp duty across the 13 districts
Govt may need gram sabha nod for acquiring property
Nov 26, 2014
BENGALURU: People in rural areas will soon have a major say in the government acquiring their land or property for projects, if a proposed amendment to the Karnataka Panchayat Raj Act becomes a reality
Okay to bar Delhi home owners: HC
Nov 26, 2014
NEW DELHI: With the much-awaited DDA housing draw finally out, the Delhi high court on said there was "nothing wrong" with DDA's regulation which holds that a person, who already owns a flat or plot in Delhi, was ineligible to apply
Ministers flout rules, occupy quarters
Nov 26, 2014
Bhubaneswar: Parliamentary affairs minister Bikram Keshari Arukh submitted a written reply in the Assembly to a question on lawmakers occupying more than one government quarters in violation of rules
Supertech to invest Rs 2,000 cr in Gurgaon, appoints CEO for first time
Nov 26, 2014
New Delhi: Noida-based real estate firm Supertech plans to invest about Rs 2,000 crore in Gurgaon over the next few years by launching several luxury and affordable projects
Mega housing scheme draw: DDA website attracts nearly 30 lakh hits
Nov 26, 2014
NEW DELHI: As the much-awaited draw for the mega 'Housing Scheme 2014' concluded, the website of Delhi Development Authority attracted close to 30 lakh hits

Latest Realty News Of State

Realty Talk's