BY: SHALEEN BAWEJA (15946) PUROO SONI (15907) DIWAKAR ANAND (15912) MUDIT KALRA (15918) AMAN ARORA (15944)
We as a group would like to express our sincere thanks to MR.KUMAR BIJOY our FINANCIAL SERVICES faculty for helping us study the subject in depth thus giving us a wholesome experience.
We also express our gratitude towards COLLEGE OF BUSINESS STUDIES for giving us the opportunity to work on the project.
S.No. PARTICULARS PAGE
1. PROFILE OF NATIONAL HOUSING BANK 4 2. WHY HOUSING FINANCE IS IMPORTANT? 7 3. HOUSING & GDP 8
4. TYPES OF HOME LOANS 9 5. HOUSING FINANCE COMPANIES IN INDIA 11
6. SUMMARY OF FINANCIALS OF SELECTED HOUSING FINANCE COMPANIES 21 7. REVERSE MORTGAGE LOAN 22 8. HOUSING FINANCE- SCOPE IN INDIA 24 9. ASSESSMENTS & PROSPECTS 30 10. FUTURE EXPECTATIONS 32 11. LIMITATIONS OF HOUSING FINANCE 33 12. ANNEXURES 35
PROFILE OF THE NATIONAL HOUSING BANK
The National Housing Bank (NHB) was established on 9th July 1988 under an Act of the Parliament viz. the National Housing Bank Act, 1987 to function as a principal agency to promote Housing Finance Institutions and to provide financial and other support to such institutions. The Act, inter alia, empowers NHB to: ✓ Issue directions to housing finance institutions to ensure their growth on sound lines
✓ Make loans and advances and render any other form of financial assistance to scheduled banks and housing finance institutions or to any authority established by or under any Central, State or Provincial Act and engaged in slum improvement and
✓ Formulate schemes for the purpose of mobilisation of resources and extension of credit for housing
NHB has been established to achieve, inter alia, the following objectives: ✓ To promote a sound, healthy, viable and cost effective housing finance system to cater to all segments of the population and to integrate the housing finance system with the overall financial system.
✓ To promote a network of dedicated housing finance institutions to adequately serve various regions and different income groups.
✓ To augment resources for the sector and channelise them for housing.
✓ To make housing credit more affordable.
✓ To regulate the activities of housing finance companies based on regulatory and supervisory authority derived under the Act.
✓ To encourage augmentation of supply of buildable land and also building materials for housing and to upgrade the housing stock in the country. ✓ To encourage public agencies to emerge as facilitators and suppliers of serviced land, for housing.
NHB, as the Apex level financial institution for the housing sector in the country, performs the following roles:
✓ Regulation and Supervision