Top 5 Housing Finance Companies in India
There is wide variety of financial services provided all over India. However, with the ever escalating property prices the housing finance sector has seen a tremendous growth. As a result, many players have entered the market, enjoying a great market share. We list down top 5 housing finance companies in India known for the services and products they offer.
Housing Development Finance Corporation Limited (HDFC)
Housing Development Finance Corporation Ltd (HDFC) is the pioneer in the Indian housing finance market. HDFC holds a market share of about 17%. According to a report made in 2010, HDFC serves more than 38 lakh Indian customers. The organisation also offers customised housing finance products to its customers.
State Bank of India Home Finance (SBI)
With the same market share as that of HDFC, 17%, SBI is another market leader in the housing finance sector. They provide loan for various purposes from buying flats to land for home or renovation to extension of existing house.
Housing Urban Development Corporation (HUDCO)
There are myriad of housing related loans provided under their ‘Niwas’ scheme. In the financial year 2009-2010, HUDCO registered a profit of Rs 495.31 crore as compared to Rs 400.99 crore from the previous year.
LIC Housing Finance Limited
Life Insurance Corporation of India is undoubtedly the biggest market player in the insurance sector. However, with the company penetrating the housing finance sector as well, they hold a market share of 8%. Superbrands Council has awarded the company with "Consumer Super-brand 2009/2010 Status"
Magma Housing Finance
Magma Housing Finance provides a wide range of housing finance products to choose from. The company is known for its quick documentation and loan sanction process. Ever since its inception in the year 1989, helping people invest and built up wealth has been their biggest motive. They are definitely meeting their target with a robust network of 250+ branches all over India.