LIC Housing Finance Plan to Real Estate VC Fund
Life Insurance Corporation of India (LIC India) is set to launch a real estate venture capital fund shortly with the subsidiary LIC Housing Finance Ltd. (LICHF). LIC Planning to launch LICHF with Rs. 500 - 800 crore funds. LIC is one of the leading life insurance company in India.
CEO V.K. Sharma said on Friday "All necessary formalities to launch LICHF is done and we have got permission also from Government. Hope it will be launched in coming 2-3 months. The company will raise funds from financial institutions in India, HNIs and banks through LIC Housing Finance Asset Management Company. Planing to invest money first in urban real estate."
LICHF Plans for offering affordable and low budget houses to senior citizens in all estate capitals. And to take this forward they have already begun constructing houses in Bhubneshwar. And next city for same project is Bangalore.
The company has planned to provide houses in the price range of Rs. 6 to 8 lacs picking one state every year. The company has already purchased land in Bangalore and Jaipur.
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CEO V.K. Sharma said on Friday "All necessary formalities to launch LICHF is done and we have got permission also from Government. Hope it will be launched in coming 2-3 months. The company will raise funds from financial institutions in India, HNIs and banks through LIC Housing Finance Asset Management Company. Planing to invest money first in urban real estate."
LICHF Plans for offering affordable and low budget houses to senior citizens in all estate capitals. And to take this forward they have already begun constructing houses in Bhubneshwar. And next city for same project is Bangalore.
The company has planned to provide houses in the price range of Rs. 6 to 8 lacs picking one state every year. The company has already purchased land in Bangalore and Jaipur.
