Hyderabad|India|February'2010: The two day property show showcasing 30 plus real estate projects from companies such as Indu Projects, Modi Realtors & Properties, DLF Home Developers Ltd, Saket Engineering, Aliens Group, Janapriya Engineering Syndicate, Fortune Infrastructure Developers, and many others was inaugurated here in city at Institute of Engineers, Khairatabad.

Mr. M.R. Ankolekar, General Manager --Marketing and Publicity, LIC Housing Finance, Mumbai and Mr. Vincent Saldanha, Regional Manager, South Central Region inaugurated the same by cutting the ribbon and lighting the lamp.

The two-day annual event is being conducted successfully 3rd time in city and will be concluded on Sunday evening. About 20,000 aspiring to own homes are expected to visit the property exhibition today and tomorrow. The show, which was held last year resulted in the business of about Rs 200 crore and this time we expect to reach Rs 300 crore informed Mr. Vincent Saldanha.

During the show LICHF is offering a concessional processing fee. Irrespective of the loan amount it charges only Rs 5000/- as processing fee. It also promise to provide free legal and technical advisory services and provide spot loan sanctions.

LICHF business in Andhra Pradesh is the second highest in the country after New Delhi. Upto 31st January we have disbursed Rs 1550 crore here while during the same time Delhi disbursed Rs 1600crore informed Vincent Saldanha, addressing the media immediately after the inauguration. On all India basis LICHF has disbursed Rs 11000 rore by the end of January 31, 2010 and expected to touch Rs 13000 by the end of March 2010.

According to Vincent Saldanha, the roperty shows are currently being organized at Chennai, Coimbatore and Delhi. These provide opportunity for buyers and sellers together. Visitors to the show can seek information on many projects under single roof he said.

Speaking about real estate market he said it is picked up now. The property prices are by and large stabilized. There has been a temporary setback due to political situation in the state. As a result of this real estate sales have become slow. But construction is not stopped. I am confident that the market will pick up soon he opined.

Turnout to the show has been good and increased gradually towards to the evening. Gone are the days only when you bought own house after a sufficient age may be after fifties and sixties. Now youngsters are turning out in good numbers and making enquiries. This trend is something not seen before. Even many young couples were making enquiries about the various projects in the show. Unlike in the past youngsters dream to own a house at an early age as their earnings have sufficiently gone up and many are afford to buy houses now observed Lakshaman Rao real estate consultant.
 

Reachout's News Bureau
February' 2010