"Correction in real estate prices is needed to stimulate home-loan demand.IDBI Bank’s board will take a decision on the sale of its Pune-based home loan subsidiary, IDBI Home Finance Ltd, (IHFL) by the end of this month, chairman and managing director Yogesh Agarwal said.
Despite the fact that IDBI Bank was willing to offer home loans at 8.5%, not many developers have approached the bank for credit at this rate!
Developers don’t seem to be keen to borrow at this rate. As a result, growth in credit disbursement for house construction is not as per expectations," Yogesh Agarwal.
The lender’s board, which met on 23 January to take a call on the IHFL sale, had deferred the decision, citing the need for more information about prospective buyers.
Three leading players have emerged as contenders for IHFL - Dewan Housing, Religare Enterprises and Tata Capital.
According to IDBI Bank sources, Dewan Housing has put in the highest bid for the unit.To read more, please, visit - IDBI, Bank of Baroda lend Satyam Rs300 cr each - Money Matters - livemint.com
What is your take on the sale of IHFL?Have you ever considered to take a loan from IDBI Home Finance? Or your choice was only between HDFC and ICICI? I think, all three buyers are more interested in the infrastructure than the business of IHFL. What do you think? Please, share your views in the comments. (Comments Policy)
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