This project revolves
around the scene
which reflects the
picture how loans
are taken, on what
rates are they
been released and
also about the
schemes floating in the
market. The housing finance
sector has emerged
as one of
the outstanding successes over the last
decade. The financial
year 2003- 2004 witnessed
a remarkable growth
in the overall economy
of the country. This
sector plays a
very important role in
the economy growth of
the country.
The housing finance
industry continued to
show a robust
growth rate during
the year mainly
on account of
stable property prices,
tax incentives, increased urbanization
and evolution of
nuclear family system, an
increasing per capital
income, a desire for
independent home ownership
and the availability
of finance at
a lower interest
rate. Though the above
development bode good
for the growth
of the industry,
much is expected
of the housing
industry sector to
improve poverty elevation
program and social
conditions of human
settlements. As per the
current estimates , India faces
a shortage of
about 30 million dwelling
units and this
backlog is growing.
WHY THIS PROJECT
WAS UNDERTAKEN
Housing
finance industry is
one of the
grooming industry in
Indian economy. As we
know this industry
is adding a
lot in the
GDP of the
country. This project
will help me
to gain knowledge
regarding housing loan, and
making consumer well acquainted
about the affairs
regarding taking over
of loans and
fluctuating rate of
interest.This
project will definitely
help me to
know about the
present scenario of
housing loan in our country. It
is very interesting work on this project because
while doing this
project I can see that now
every one can easily
make their dream
home. Countries economy is growing and
per capital income is
also increasing . Now peoples
standard of living
has increased as
compare to past .Housing
is one of
the necessary need
for the people. Housing loan
which is now being
provided by many financial Institution and
nationalized banks, has
uplift the demand
of housing in
our country. therefore increasing demand of housing has created an
anxiety in me
to work on
this project.
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PROBLEM ENVIRONMENT
In present context
banks have their
own home loan
rate. It is
well established by
R.B.I but get
varied from bank
to bank, slightly in
decimals. previously,
housing schemes were
running high & high
due to lowering
interest rates which
brought an adverse
effect on the
mentality of would
be buyers .As not
going so far,
rate were so
low that it
injected high profile
eagerness got collapsed
due to increase
rate. Apart from
the problem posed
by interest rate, some
other problems are
also there which
effect the home
loans procedure.
The problems
are as follows:
- Man should be capable of repayment & so he should earning more than 10,000 as per to pay the EMI.
- Character that is socio economic background of the person should be checked out and this is being done by internal credit officer that whether he is an alcoholic or chain smoker if so money is returned back get questionable.
- Person should not be having bad credits.
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