HDFC to open 2 more branches in Andhra

Housing Development Finance Corporation Limited (HDFC) has decided to open two more branches in the state next fiscal.

Speaking to mediapersons at the launch of the three-day 'HDFC Property Fair' in Visakhapatnam, B V Sundara Rajhan, regional manager of HDFC, said, "At present, we have nine branches in Andhra Pradesh. We plan to open at least two more branches in the state next fiscal."

The corporation would sanction around Rs 850 crore of housing loans during the next fiscal in Andhra Pradesh, he added.

"During the last fiscal, HDFC has sanctioned housing loans to the tune of Rs 413 crore in the state. We expect the housing loans to touch Rs 680 crore this fiscal," he said.

"HDFC has been liberal in giving housing loans when compared to other housing finance companies. To extend more loans, the corporation is conducting special property fairs across the state. We are offering reduced interest rates at these fairs, and we are receiving good response from the public," he added.