NEWS & ADVICE : HOME LOANS
Unitech to enter the home loan business
By Joseph Samson
Nov 19, 2007
Print    Email    RSS   

Mumbai: After making its mark in the real estate scenario in India, Unitech Ltd. one of the largest builders have now decided to step into the lucrative home loan business in India. "Within a year Unitech will start its home loan business," Sanjay Chandra, MD, Unitech said. The services provided by Unitech will include real estate finance and mortgage finance. An unlisted group company will manage the financial service business and Chandra family will use its personal wealth to fund the business.

One of the other interests of Unitech group is to enter the insurance business. The company is actively looking to offer general insurance in India and is currently in talks with major international players in this segment.

India has a well established home loan industry with private sector banks, public sector banks and other financial institutions as its backbone. The major public sector banks are Indian Bank, Union Bank of India, Punjab National Bank, Bank of Baroda Bank of Maharashtra, Corporation Bank, Bank of Rajasthan, Allahabad Bank and the State Bank of India with its associate banks.

The private sector majors like ICICI, HDFC, ABN Amro, Axis Bank and IDBI corner a major share of home loans issued in India. Other financial institutions like Dewan Housing Finance Limited (DHFL) and Indiabulls etc. are already making their presence felt. Looks like Unitech has a real task ahead to establish themselves in this hugely competitive segment.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Paying back home loans: Which repayment...
A chronicle of excesses by loan recovery...
J&K Bank raises PLR
Home loan rates likely to remain stable
Credit score from CIBIL: will it really...


PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive