ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Pioneer in Housing Finance Kumaran Pola HOUSING DEVELOPMENT FINANCE CORPORATION (HDFC) approved housing loans for Rs 603 crore for 96,000 units during the year ended March 1990 compared to Rs 333 crore for 50,000 units during the nine-month period ended March 1989. Loan disbupsements increased to Rs 489 crore from Rs 255 crore. Loan approvals and disbursements showed increases of 36 per cent and 44 per cent respectively over the year on an annualised basis. HDFC's cumulative loan approvals crossed Rs 2,000 crore in 1989-90 while cumulative disbursements crossed Rs 1,500 crore to reach Rs 2,089 crore and Rs 1,578 crore respectively on March 31,1990. The cumulative loan approvals were for 3,98,000 units throughout the country. Of the gross loan approvals, 78 per cent were for individual home ownership. The balance 22 per cent consisted of loans to corporate and institutional borrowers as well as to real estate developers through short-term construction finance.

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