The largest housing finance company is a name earned by LIC Housing Finance Ltd. LIC Housing Finance was established in 1989 and is promoted by LIC. Public issues of LIC Housing Finance was issued in 1994, GDR issue in 1994. A company recognized by National Housing Bank and listed on National Stock Exchange and Bombay Stock Exchange is some of the main reputations of LIC Housing Finance Mumbai. With shares traded in Demat format, GDR listed in Luxembourg Stock Exchange, this company has also won worldwide acclaim.
Business of LIC Housing Finance Mumbai is providing long-term finance for housing. It may be construction, repair, renovation or purchase of property like houses or flats. Finance is also provided for existing property for personal or business needs. Loans for professionals are also given for construction of Nursing homes/ Clinics/ Diagnostic Centers/ Office space. Finance is also provided for purchase of equipments for doing business.
Corporate Office of LIC Housing Finance Mumbai is situated in Mumbai. There are around 6 regional offices, 130 marketing units managed by 13 back offices. LIC Housing Finance Mumbai does business throughout the length and breadth of India, it has an extensive marketing network that helps the company to do business. The employee base of the company is around 1352 Direct Sales Agents, 777 Customer relationship associates and 7085 Home loan agents. They all help in building the strong marketing network for the company. The other administrative functions and credit appraisals are done by the 13 Back offices spread across various Indian cities.
Real estate in Mumbai is high as it is one of the most fashionable cities of India. Fashion and cinema go hand in hand, the film industry has contributed to the growth of real estate in Mumbai India largely. Not only the real estate prices are high, they are also continuously increasing. This price rise is contributed to the builders, buyers, real estate management, and sellers in general.
Mumbai is considered as a well-developed city with construction, property and fashion being the contributing factors. Corporate India focuses on Mumbai, as it is the commercial hub of India. This has led to unimaginable rise in prices of real estate in such a way that it has become beyond the reach of the nonprofessional.
Large-scale investments are seen in the commercial sector and hence the price rises in the property in Mumbai. The need for office space is also increasing due to a number of BPOs, IT, ITES and MNCs trying to set up their offices in Mumbai. In terms of other infrastructural facilities – sea links, highways, flyovers and malls are also coming up in huge numbers. The demand and supply of residential property has seen an imbalance, the rental amounts in Mumbai city are considerably high when compared to the other metros. All these factors have made business of LIC Housing Finance Mumbai easy.
LIC Housing Finance Mumbai has gone a step ahead and set up offices in Middle East. Representative office is found in Kuwait and Dubai, which helps the Nonresident Indian citizens in the various countries of Middle East like Qatar, Saudi Arabia, Bahrain, and Dubai.
LIC Housing Finance has earned the reputation of giving assistance to 10,000,000 house owners all over the world.