With few rising symptoms on the realty sale at various major location of the country now the General Insurance Corporation of India Housing Finance is paving their way for more disbursals of funds for the housing segment. On a short note with www.propertykhazana.com MD of GIC sates that “the disbursal amount will be around Rs 750 crore for the current financial year as compared to the last fiscal reading which touched only Rs 290 crore. Earlier the company slowed down the process on account of global as well as national economic fall which also led a deep impact on the realty circuit”.
He further adds that till the mid of 2008 there was no affluent activity on the country’s realty and after correction up to 30 percent the sale showed bit encouraging mark on the realty graph. But the situation was still harsh with high rise in property worth tags across the major location of the country. Hence new pattern of realty scheme will be proclaimed by GIC effecting from coming October with disbursal allotment up to Rs 1 crore for the interest of 7.95 percent for first 6 months and will be continued with the other normal rates as added on www.propetykhazana.com.
Coming to the state of Kerala, GIC has declared a disbursal of Rs 26 crore earlier which might get raise up to 25 percent from the current economic year. Source reported at www.propertykhazana.com also reveals that the currently the NPA level is under satisfactory mark which was Rs 98 crore for 2007-08 and 2008-09 and it can be further degraded up to Rs 90 crore
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