Lic Hfl: Helping Home Seekers Find Their Dream Home
About Lic Hfl: Helping Home Seekers Find Their Dream Home
India is among the few countries who witnessed an upsurge in the property prices after the recession, When the economic slowdown hit the real estate sector in 2008, it saw the emergence of a new buzz word \'Affordability\'. The estimated shortage in dwelling units during the period 2007-12 is approximately 25 million in India. Given India\'s rapid population growth, increasing urbanization and rising affordability, the housing finance market will continue to grow.
Now when the home seekers have an easy reach to their dream house, they need to start their search with bumpy rides along the outskirts of the city, walking through dusty by-lanes to see sample flats and a stream of brochures. If this is the case with you, then property exhibitions or expos are the right place to start your house hunt.
Property expo is a one-stop shop for new projects where one can get details of the various projects he is interested in ultimately rescuing the house hunter from the hassles. One can easily find new projects at various stages of completion - some ready to move in, some may be nearing completion while others may be at the initial stage. Each project is displayed with a rate list along with details including floor plans, application forms and payment options. Understanding the unusual combinations of benefits that these expos bring to the table for the buyers and sellers, LIC Housing Finance Ltd., a trusted housing finance company since 1989, has been organising \'Nimma Mane\' - a unique property expo held annually since past three years.
The 4th Edition of the three-day expo will be inaugurated on January 17th 5PM at RBANMS Grounds, Ulsoor, Bangalore. The expo will translate into opportunities in all spheres for the buyers. The event showcase more than 70 builders & developers participating with around 300 projects displayed. Last year, the event got a remarkable response with a footfall of more than 12,000 property seekers and 65 prominent builders participating at the expo. \"Because of the goodwill and the association the builders have with us, we are able to conduct such a successful event.,\"says R.J. Rajaraman, Regional Manager, LIC Housing Finance Ltd. This year too Times Redcell will be the event managers of the Expo
Nimma Mane- A market for property buyers :
When Manish Kumar, an MNC professional, decided to buy a property in central Bangalore, he was unsure about taking it forward. \"I decided to buy a house for me, but things like reliability, durability, finance and others were roving over my head. I went to various builders and banks but to vain. Then I came across LIC HFL\'s Nimma Mane Property Expo and decided to give it a try as LIC has been a symbol of trust for its customers since years. Though it was the first year of the expo; I was surprised to see it housing big builders & developers under one roof and the availability of hassle free home loans. I had various options to choose from. The struggle for the past few years ended and today I am the proud owner of my dream house,\" shares an excited Manish.
The silver lining of the property expo is that LICHFL carries the brand of LIC & hence the LIC policy holders also evince interest in exposition. LIC HFL has a strong customer base of about 60,000 customers under South Central Region. They also offer \'on the spot\' home loan offer letters for people coming with pay slip or income tax certificate.
With major amount of publicity being involved for the exposition, participating exhibitors have an astounding chance to grab attention of customers without making any extra efforts to reach their target audience. It allows developers to connect directly with potential customers and showcase the premium and affordable apartments, villas, row houses, and residential sites. One of the participants of last year expo says, \"Property exhibitions have not only helped us to cater the very specific and niche group of audience of property seekers but also helped prospective buyers with a good overview of available housing options fitting into their pockets and locations of choice. They can visit the project sites they are interested in right away, or schedule a viewing in the near future\". The walk-in\'s attending the fair also get an opportunity to avail on-the-spot financial support from LIC HFL with special offers on processing fees and also stand a chance to win surprise gifts.
The expo ensures space, facilities, and footfalls this year. The focal point of the exhibition will be the visit of Smt. Sunita Sharma, MD & CEO, LIC HFL which will be a positive facet for the participants as well as the customers. She has assumed charge as MD & CEO of LIC Housing Finance Ltd on 5th November 2013. She is also the first woman to be the MD & CEO of the Company since its inception in 1989.
Prior to this assignment, Smt. Sharma was Executive Director of Investments in LIC of India looking after the areas of equity research and risk management. Pension & Group schemes became most successful marketing channel and business grew manifold for LICI when she was spearheading the assignment as Executive Director. In a career spanning over 3 decades in the Corporation, she has handled various assignments like Personnel, New Business, Policy Servicing, Finance & Accounts and Estates. She had also served as Regional Manager of LIC HFL of Northern Region covering the states of Delhi NCR, Rajasthan, Chandigarh, Punjab and Himachal Pradesh.
Providing Affordable Housing Finance
The Housing Finance Industry is one of the most keenly competitive segments of the Economy, with the Banking sector having a significant presence. Making a special mark in the crowd, LIC Housing Finance Limited (HFL) entered in the market with a mission to provide secured housing ?nance at an affordable cost. It offers long term finance to individuals for purchase, construction, repair and renovation of new or existing flats and houses. The company also provides Mortgage loans on existing property for business, personal needs and gives loans to professionals for purchase or construction of Clinics, Nursing Homes, Diagnostic Centres/Office Space and also for purchase of equipments.
The organization has won prestigious CNBC TV 18 Award for \'The Best Housing Finance Company\' and has been able to grow as one of the largest housing finance providers in India. Touted as \'the Most Trusted Brand\', LIC HFL serves more than 12 lakh customers; the company provides loans for homes, construction activities, and corporate housing schemes. Around 93.83 percent of the loan portfolio is derived from the retail segment and the rest from large corporate clients. With strongly embedded values of fair and transparent business practices, the organization has been successful in winning the trust and confidence of home finance seekers. It has always provided finance at affordable and competitive rates making it a preferred destination for the customers. Not only this, it has also been an aide to the developers. In Project Finance Forte, LIC HFL provides short term bridge finance to reputed builders and developers to complete their projects. They have a minimum 6 months and maximum term 5 Years or up to completion of project. The loans can be for various purposes of developing residential units\' shopping Malls, hospitals and IT parks. The company had exposures to major players in Bangalore like Embassy Group , Prestige Group , Hoysala, Sobha, Adarsh, Nandi and so on. LIC HFL segregates the finance support to the developers into four different categories. Construction Finance - Sales Model wherein loans are given to developers/ builders for the purpose of developing and constructing Residential / Commercial Premises for the purpose of Sale, Construction Finance - Lease Model where loans are provided to developers / builders for the purpose of developing and constructing Residential / Commercial Units to be let out, Rental Securitization where loans against future rent is receivable from the Project / premises and term loan which are given to developers / builders for business purposes. The borrower may not use the same on any specific project or for specific purposes.
Among several players in Home Loan providers, LIC HFL has made its stand and has been recognized by National Housing Bank and listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). LIC HFL has been rated \'AAA\' by CRISIL for the 12th consecutive time in the year 2012-13 and also bagged the \'Best Outstanding Company in Home Finance\'. The company has also launched a new line of business by the name Property services Division across the country in select centers to enable a prospective home buyer select the property up to taking the possession of the same.
The evolution of the Indian real estate sector has been phenomenal in the past decade, propelled by a growing economy, liberalized foreign direct investment policy and the higher yields the sector is offering. The organization foresees that the housing finance industry will be able to maintain a higher growth in the residential home loans over the coming future, the LIC HFL plans to make Nimma Mane Property Expo, a power booster for the real estate market and envisions to prolong their hard work and sincere approach towards helping their customers with their services.
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SUBSIDIARY COMPANIES
1. LICHFL Care Homes Limited To address the crying need of housing for the senior citizens of the country, the Company had promoted LICHFL Care Homes Limited, to establish and operate assisted community living centres. LICHFL Care Homes Limited was incorporate on 11th September, 2001. It launched its eco-friendly pilot project in Bangalore with cost-effective independent cottages and all other on-campus amenities, fully structured and self-contained to address every possible need of residents. It has library, community centre, home theatre, meditation centre, and doctors on call and ambulance to take the ailing to the nearest city Medicare centre – all that would make the lives of senior citizens comfortable and satisfying. New such projects are planned in Bhubaneshwar and Jaipur and the company is in the process of finalising the purchase of land for a few more projects.
2. LICHFL Financial Services Limited : LICHFL Financial Services Limited was incorporated on 31st October, 2007 for undertaking non fund based activities like marketing of housing loans, insurance products, credit card, mutual fund, personal loan etc. It has become operational in 2008-09 and has already opened five offices in Maharashtra and plans to open atleast another thirty offices during 2009-10.
3.LICHFL Trustee Company Private Limited :LICHFL Trustee Company Private Limited was incorporated on 5th March, 2008 for undertaking the business of trustees of venture capital trust, funds – in India and offshore fund. The Company would very soon launch its operations - act as trustee of the fund raised through private placement, public offer etc.
4. LICHFL Asset Management Company Private Limited :
LICHFL Asset Management Company Private Limited was incorporated on 14th February, 2008 for undertaking the business of managing, advising, administering venture funds, unit trust, investment trust in India as well as abroad. The Company would launch its operations very soon.