Introduction To The Industry.docx

A PROJECT REPORT ON

“A STUDY ON HOME LOANS” OF

Submitted in partial fulfillment of the requirement For the award of degree

MASTER OF BUSINESS ADMINISTRATION Of

A.K.T.U. University, Lucknow Session-(2017-19)

Under the guidance of

Submitted by: Name: Shubham Dhiman Roll No: 1704870070

DAYANAND ACADEMY OF MANAGEMENT STUDIES, KANPUR

DECLARATION

I, Shubham Dhiman, student of M.B.A. at Dayanand Academy of Management Studies, Kanpur, hereby declare that the project work entitled “A STUDY ON HOME LOANS with special reference to Dewan Housing Finance Corporation Ltd (DHFL)” is the record of authentic work carried out by me for 6 weeks and has not been submitted to any other University or Institute for the award of any degree / diploma etc. Whatever information furnished in this project report is true to best of my knowledge. SHUBHAM DHIMAN MBA 2017-19 1704870070

Preface A professional course (Master of Business Administration) is incomplete unless the theoretical Knowledge acquired in the classroom is backed up by practical exposure as theories alone do not give perfection to any discipline. The gap between theory and practice is bridged by the summer internship, which has been an integral part of the syllabus. This present project report is an image of what I have done and observed during my summer internship in Dewan Housing Finance Corporation Ltd (DHFL). This report is the result of the work done during the summer internship 03 jULY - 03 SEPT.I have tried my level best to be as a systematic as possible and to avoid any sort of biases.

Acknowledgement Summer training at Dewan Housing Finance Corporation Ltd (DHFL), is an opportunity for exposure with the various function of housing finance as well as interaction with the people engaged in this specialized field of knowledge. Hence, it is great pleasure for me to be a summer trainee in Home loan Department of Dewan Housing Finance Corporation Ltd (DHFL). Hard work, dedication, knowledge & positive attitude all are necessary to do any task successfully but one thing with this is very important is the cooperation and guidance of expert and experienced person. Firstly I would like to Ms. Vijaiendra Tiwari (Unit Head) for giving me an opportunity to work in such a reputed company. I would like to give my sincere thanks to Ms.ANKUR SAXENA (Head of Home loan department) who always help to understand the whole HOME LOAN PROCESS followed Dewan Housing Finance Corporation Ltd (DHFL).I would like to express my sincere gratitude and regards to Mrs. Astha Shukla (Faculty guide) for his valuable suggestions from time to time without her support and guidance this Project would not have taken its present shape. With Regards, Shubham Dhiman MBA 2017-19 1704870070

TABLE OF CONTENTS Student Declaration …………………………………………………….. Preface…………………………………………………………………... Acknowledgement..…………………………………………………....... College Certificate ……………………………………………………… Organization Certificate………………………………………………… CHAPTER 1: INDUSTRY PROFILE…………………………………..      

The History of Indian home Loans………………………….. Home Loan procedure in India………………………………. Interest rate provided by banks……………………………… Indian home loans Industry………………………………….. Types of home loans…………………………………………... HDFC home loan……………………………………………..

CHAPTER 2: COMPANY PROFILE………………………………… CHAPTER 3: INTRODUCTION OF DEPARTMENT……………….    

Introduction to home loans…………………………............................. Advantages of home loans………………………………………… Disadvantages of home loans………………………………........... Disbursement of home loans……………………………………….

CHAPTER 4: LITERATURE REVIEW…………………………….……. CHAPTER 5: RESEARCH METHODOLOGY……………………………..          

Research Design…………………………………………………….. Research Problem………………………………………………….. Research Hypothesis………………………………………………… Population Size……………………………………………………… Sample size……………………………………………………….. Sampling Method…………………………………………………. Mode of Data Collection………………………………………….. Research Tools……………………………………………………. Method of Organization of Data………………………………….. Method of Presentation of Data……………………………………

CHAPTER 6: ANALYSIS & INTERPRETATION ………………………. CHAPTER 7: FINDINGS………………………………………………….

CHAPTER 8: RECOMMENDATIONS………………………..………….. CHAPTER 9: CONCLUSION……………………………………………… CHAPTER 10: ANNEXURE………………………………………………..  Questionnaire………………………………………………………..  Bibliography ………………………………………………………..

INDUSTRY PROFILE

CHAPTER-1 INTRODUCTION TO THE INDUSTRY THE HISTORY OF INDIAN HOME LOANS:Almost four decades ago, home loans were not even an option for homebuyers. In fact, homebuyers were cautious to test this ground due to the social structure they belonged to, other finance modes they depended on and the age at which they decided to buy homes. Today, in times when the younger generation is making a choice of buying a home, thanks to the better-paying jobs, equated monthly installments do not scare them anymore. The repayment capacity of those in their late 20s and into their 30s is, on the whole, better than that of the previous generation.

Three renowned banks are often credited with what has today emerged as a robust borrowinglending market. When it started offering home loans four decades ago, HDFC Bank had almost no competitor as housing was seen as an unproductive sector and did not receive the focus as it does today. Soon after, it was the ICICI Bank in 1999 that revolutionized the entire system by introducing floating home loan rates. This was an instant hit among prospective homebuyers. The State Bank of India (SBI) took a long time to gain ground in terms of home loan, but, when it did, it became popular in no time. The bank introduced fixed rate of eight per cent in the first year, nine per cent in the next two years and market rates for the rest of the term. The bank termed this as a teaser rate.

Many other banks which did not have the capacity to lend at attractive rates began rolling out other offers such as home improvement rates which meant there was a higher loan-to-value. But,

the Reserve Bank of India (RBI) soon capped such limits at 80 per cent and banks were not allowed to fund stamp duty and registration charges.

Today, borrowing over 80 per cent of the value of a property is quite common, and more and more homebuyers prefer home loans. It also gives the homebuyers an assurance about the property they are planning to invest in as banks perform due diligence of the property before lending. However, it was not the same earlier. The home loan segment has come a long way since its inception decades ago.

HOME LOAN PROCEDURE IN INDIA:1- Home Loan Application:-

The procedure begins when you send a formal home loan application to the bank. Bank will ask for your personal details in order to scrutinize your financial standing and loan eligibility. For this, you will have to submit a set of documents including identity proof, age proof, address proof, income proof, employment details, details of existing properties, etc.

2- Processing Fee:-

The bank will charge you with loan-processing fee which is the charge for commencing and maintaining the process of home loan and it is non-refundable. Usually, the charge is between 0.25% and 0.50%. Some banks have waived off the processing fee; you can negotiate the same.

3- Verification and Evaluation of Repayment Capacity:-

After you have paid the processing fee, bank will start the verification process. The banks will evaluate your credit history and decide the amount of loan for you. For this, you will be asked to show up for a personal discussion with the bank’s representative who will ask for a number of details. The information provided by you will be verified by the bank for which they might visit your office and residence.

Evaluation of repayment capacity is the most crucial part of this process. Based on their verification and judgement, the bank will either approve your home loan or reject it. You can also get a conditional approval which means that you will have to fulfill a set of conditions before the actual disbursal of the loan amount.

4- Offer Letter:-

After being satisfied with all the information and repayment capacity, bank will send you an offer letter which will include information related to tentative principal amount, rate of interest, type of interest rate (fixed or floating), tenure, repayment mode and other terms and conditions. If you accept the offer, you have to sign the acceptance letter, a copy of which will be kept with the bank for records. The bank may levy some administrative fees at this stage.

5- Property Verification:-

The reason why home loan is known as ‘mortgage loan’ is because your property stands as collateral for it and in case you are unable to make the payment, bank has the right to liquidate the property to get their loan amount. Hence, it is important for the bank to verify the property. There will be a legal check to ensure that it is clear of all land disputes and its title is clear. If it is an

under-construction property, the location, title, quality and completion timeline will be assessed by the bank’s property valuators. They also assess the property’s value on certain parameters which will be the lead for deciding the actual disbursal amount.

6- The Actual Home Loan Disbursal:-

After the entire verification and above-mentioned formalities have been fulfilled to the best satisfaction of the bank, registration process initiates. You are required to prepare all legal documents in the correct format which is approved by the bank’s lawyer on stamp papers. Postdated cheques for the agreed tenure are also required and you will have to sign the home loan agreement.

After you sign the agreement, the disbursal process will begin as agreed upon, that is, a lump-sum amount or in stages.

INTEREST RATES PROVIDED BY VARIOUS BANKS:-

Home

Home

Loan Home Loan Processing Fees

Loan

Interest Rates

Prepayment Charges

Provider YES

9.35% onwards

BANK

0.5% of loan amt. or Rs.10,000 NIL whichever is higher (+GST)

floating loans

SBI

8.70% onwards

Rs. 0 – 10,000

NIL

HDFC

8.80% onwards

Up to 0.5% of loan amt

NIL

ICICI Bank

8.85% onwards

0.5% – 1.00% of loan amt.

NIL

IDFC Bank

8.90% onwards

Rs 10000

NIL

IndiaBulls

8.70% onwards

Up to 1% of loan amt

NIL

LIC

8.50% onwards

For up to 1 Cr – Rs 5000 , Above 1 Cr NIL

Bank

Housing

Rs 10,000

Finance PNB

8.99% onwards

Up to 1% of loan amt

NIL

DHFL

8.70% onwards

Up to 1% of loan amt

NIL

Axis Bank

8.70% onwards

Up to 1% of loan amt

NIL

Housing Finance

for rate

IDBI Bank

9.30% onwards

0.5% of loan amount

NIL

Tata

8.70% onwards

0.2% of loan amt.

NIL

8.85% onwards

Nil

NIL

Min. 1000 and Max. Rs. 20,000

NIL

8.75% onwards

Min. 500 to Max. 5,000

NIL

8.70% onwards

Varies based on applicant profile

NIL

8.65% onwards

Varies based on applicant profile

NIL

8.75% onwards

0.75% of the loan amount (minimum NIL

Capital Punjab National Bank Bank

of 8.70% onwards

India Syndicate Bank Canara Bank United Bank

of

India IIFL

Rs. 5,000)

Lock-in facility by banks:-

A lock-in, also called a rate-lock or rate commitment, is a lender’s promise to hold a certain interest rate and a certain number of points for you, usually for a specified period of time, while your loan application is processed. (Points are additional charges imposed by the lender that are usually

prepaid by the consumer at settlement but can sometimes be financed by adding them to the mortgage amount. One point equals one percent of the loan amount.) Depending upon the lender, you may be able to lock in the interest rate and number of points that you will be charged when you file your application, during processing of the loan, when the loan is approved, or later. A lock-in that is given when you apply for a loan may be useful because it’s likely to take your lender several weeks or longer to prepare, document, and evaluate your loan application. During that time, the cost of mortgages may change. But if your interest rate and points are locked in, you should be protected against increases while your application is processed. This protection could affect whether you can afford the mortgage. However, a locked-in rate could also prevent you from taking advantage of price decreases, unless your lender is willing to lock in a lower rate that becomes available during this period. It is important to recognize that a lock-in is not the same as a loan commitment, although some loan commitments may contain a lock-in. A loan commitment is the lender’s promise to make you a loan in a specific amount at some future time. Generally, you will receive the lender’s commitment only after your loan application has been approved. This commitment usually will state the loan terms that have been approved (including loan amount), how long the commitment is valid, and the lender’s conditions for making the loans such as receipt of a satisfactory title insurance policy protecting the lender.

Oral or written lock-in agreement? :-

Some lenders have preprinted forms that set out the exact terms of the lock-in agreement. Others may only make an oral lock-in promise on the telephone or at the time of application. Oral agreements can be very difficult to prove in the event of a dispute. It is wise to obtain written, rather than verbal, lock-in agreements to make sure that you fully understand how your lender’s

lock-ins and loan commitments work and to have a tangible record of your arrangements with the lender. This record may be useful in the event of a dispute.

Charges of a lock-in:-

Lenders may charge you a fee for locking in the rate of interest and number of points for your mortgage. Some lenders may charge you a fee up-front, and may not refund it if you withdraw your application, if your credit is denied, or if you do not close the loan. Others might charge the fee at settlement. The fee might be a flat fee, a percentage of the mortgage amount, or a fraction of a percentage point added to the rate you lock in. The amount of the fee and how it is charged will vary among lenders and may depend on the length of the lock-in period.

Types of lock-in:-

Locked-In Interest Rate--Locked-In Points:-

Under this option, the lender lets you lock in both the interest rate and points quoted to you. This option may be considered to be a true lock-in because your mortgage terms should not increase above the interest rate and points that you’ve agreed upon even if market conditions change.

Locked-in Interest Rate--Floating Points:-

Under this option, the lender lets you lock in the interest rate, while permitting or requiring the points to rise and fall (float) with changes in market conditions. If market interest rates drop during the lock-in period, the points may also fall. If they rise, the points may increase. Even if you float

your points, your lender may allow you to lock-in the points at some time before settlement at whatever level is then current. (For instance, say you’ve locked in some percent interest rate, but not the 3 points that went with that rate. A month later, the market interest rate remains the same, but the points the lender charges for that rate have dropped.) If you float your points and market interest rates increase by the time of settlement, the lender may charge a greater number of points for a loan at the rate you’ve locked in. In this case, the benefit you might have had by locking in your rate may be lost because you’ll have to pay more in up-front costs. Indian Economy is growing at a nice pace which is also driving per capita income rise. The demand of real estate has reached there

at

a is

new

peak

a

according

shortage

to of

ninth

five

42million

year

plan houses.

INDIAN HOME LOAN INDUSTRY:-

"Growing affordability for the first-time home buyers, supported by government incentives like the PM's Awas Yojana are expected to result in a rise in primary home purchases, especially in the affordable housing segment, which will help segmental loan growth to 17-19 per cent," the Icra report said.Housing credit grew 16 per cent in FY18, taking the mortgage penetration (housing credit as a percentage of GDP) to double-digit mark of 10 per cent for the first time in FY18, up from

9.5

per

cent

in

FY17.

Overall housing credit grew 39 per cent in the year to March 2018, which was pushed by new mortgage

players

in

the

affordable

housing

segment.

"We expect mortgage penetration level to go up by 300 -500 bps over the next five years," the report said. Overall asset quality indicators for all housing finance firms remained stable with gross

NPAs of 1.1 per cent for FY18, better than the 1.2 per cent in December 2017 but worse than the 0.8 per cent NPAs in FY17. Icra expects overall gross NPAs for housing finance companies (HFCs) to remain range-bound between 1.2 and 1.5 per cent this year. "The retail home loan asset quality of HFCs is likely to be benefited by the recent Cabinet decision to

treat

home

buyers

as

financial

creditors,"

it

said.

However, gross NPAs in the sub-segment deteriorated from 3.3 per cent in FY17 to 4.1 per cent in FY18, driven by greater portfolio seasoning, entity-specific factors in some cases and external events such as note-ban and GST rollout, which have impacted cash flows of borrowers. On the funding side, the report said HFCs would need to tie-up for Rs 4 trillion of incremental funds to meet the growth plans as well as replacing the maturing liabilities in FY19.

TYPES OF HOME LOANS:There are various types of home loans that are as follows, LAND OR PLOT LOAN:You can come to a housing finance company/ bank and avail a land loan to buy a piece of a plot for constructing your dream home. HOME CONTRUCTION LOAN:This type of home loan is ideal if you want to construct a home according to your needs. Several Housing finance Companies/ Banks in India offer home construction loan.

HOME EXTENSION LOAN:-You may want to add a new room or a new floor to expand your existing home as your family grows or simply to enlarge your home. For this purpose you can avail of a home extension loan from a housing finance company/ banks of your choice. HOME IMPROVEMENT LOAN:A home improvement loan (also sometimes known as home renovation loan) can be used for various purposes such as painting the exterior or interior of the house, plumbing, upgrading electrical system, installing new tiles, waterproofing, etc. A home improvement loan is ideal if you would like to renovate your houses but currently lack the necessary funds to do so. HOME LOAN BALANCE TRANSFER:Sometimes the current home loan interest rates can be taxing for you. It is also possible that you may not be happy with the services offered by the current housing finance company/banks. In such cases, you have an option to transfer the home loan to another lender who offers lower home loan interest rates and better services. Some housing finance companies/ banks in India even offer an option of a top- up loan besides the home loan amount which helps you get additional funds to fulfil any other financial need that you may have. COMPOSITE LOAN:A variant of Housing loan also includes an option of a combined loan for buying a plot as well as a loan for constructing your dream home. Besides the above-stated types of loans, people can also avail of other variants of home loans like a NRI home loan (only for NRI borrower), home conversion loans, etc. Contact reputed housing finance company/banks in India today to make your dreams of owning a home come true!

DHFL HOME LOANS:KEY HIGHLIGHT:Eligibility Criteria

Salaried and Self-Employed

Loan Tenure

Up to 30 years

Loan Amount

Depends on your income and value of the property

Processing fee

Depends on the loan amount

Interest Rate

Starts from 8.35% onwards

Prepayment

Nil

Charges

ELIGIBILITY:-

Eligibility Criteria

DHFL Home Loan

Eligible Age of Borrower

21 - 60 years

Work Experience for Salaried

2 years

Business Stability for Self Employed

5 years

Loan Amount Eligibility

Rs. 15 Lakh to Rs. 5 Cr

Maximum loan as percent of property value

Upto 80%

Maximum EMI as percent of income

Up to 65%

DHFL home loan eligibility is calculated based on your age, income, property value and repayment capacity.

RATE OF INTEREST:-

Loan

Entity

Applicable ROI DHFL (Salaried / SENP/ SEP)

Amount Up

to SEP/ Salaried 9.00%

Rs.

25 SENP

9.10%

Lacs Above Rs.

SEP/ Salaried 9.00%

25 SENP

9.010%

Lacs up to

75

Lacs Above Rs.

SEP/ Salaried 9.15%

75 SENP

9.25%

Lacs to Rs. 100 Lacs Loans

SEP/ Salaried 9.15%

above

SENP

Rs. 100 Lacs to

9.25%

Rs. 150 Lacs

Loans

SEP/ Salaried 9.35%

above

SENP

9.45%

Rs. 150 Lacs to Rs. 300 Lacs Loans

SEP/ Salaried 9.75%

above

SENP

10.00%

Rs. 300 Lacs

REQUIRED DOCUMENT:-

FOR SALARIED:-

Sr. Document Name No. 1.

KYC Documents Salary slip for the last 2 months / Salary Certificate (If variable components like Over

2. Time and Incentives are reflected then salary slips for the past 6 months are required)

Sr. Document Name No. 3.

Latest Form – 16 if salary above `20000/- per month Copy of all bank pass books / bank statements for the past 3 months including front

4. page 5.

Company profile if it is a lesser known organization

FOR SELF-EMPLOYEED:-

Sr.No. DOCUMENTATION 1.

KYC Documents KYC Copy of last 2 years Income Tax Returns of the applicant along with computation of

2. income duly attested by a Chartered Accountant Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a 3. Chartered Accountant 4.

Brief Business Profile on the Letter Head of the firm by the applicant Bank Statement for the last 6 months for the Savings Account & Current Account, O/D

5. Account Copy of either Shop & Establishment License / VAT Registration or any other mandatory 6. license / registration or old ITRs evidencing business Copy of the Partnership Deed, Memorandum of Associations, Articles of Association (if 7. applicable)

Sr.No. DOCUMENTATION 8.

Copy of Tax Deduction Certificate / Form – 16A (if applicable)

9.

Details of Contract (if applicable)

10.

Copy of Advance Tax paid / Self Assessment Tax paid challan

The Credit Appraisal is an important step in sanctioning loan applications .Hence the Credit Appraiser needs to have certain important documents to compute the credit worthiness of the applicant .In the case of salaried person these include the following:-

(1) SALARY SLIPS (3 MONTHS CURRENT):The salary slip is usually a printed sheet of paper that contains 2 componentsIncome/Earnings column: - It contains an exhaustive list of the various components that are added to the person’s salary. They contain various components like Basic pay, HRA etc. Deductions:- It contains an exhaustive list of various components that are deducted from the persons Earnings. They contain various components like Income tax, Provident fund, Employee Loans etc. (2) BANK STATEMENTS (6 MONTHS CURRENT);The bank statement contains the various transactions that the applicant performs in his bank account. It has 3 components

Date



Description:- It contains the brief and standardized description of the activity or the account related to the transaction .Eg. Clearing cheque 166129, Transfer deposit.



Deposits: - It contains the amounts that were credited to the account



Withdrawal:- It contains the amounts that were debited to the account. This is carefully studied to find out about any regular withdrawals or a series of checks so that any existing loans may be revealed and there can be a correct estimate of the repayment capacity.



Balance:- It shows effect of transaction on the preexisting account balance



Special feature :- HDFC will not consider any loan s without standing EMI of or below 6 months.

(3) FORM 16:It is form given by Employer which states the income earned from that company during the full financial year and gives the details of Tax deducted at source. (4) COPY OF INCOME TAX RETURN(SARAL):The SARAL tax return form reveals the structure of incomes and/or the various earnings of the tax returnee .It also shows the various deductions that will not be included and it also contains the Rebates on which he earns tax benefit. (5) RESIDENCE PROOF:The residence proof includes the Electricity bill, Telephone bill, Ration Card ,Passport. (6) PHOTO ID PROOF: - The photo proof includes the Pancard ,Voter ID card, Employee ID card, Passport etc. (7)AGE PROOF: The age proof includes the Pan card, Passport, Photo ID. (8) LOAN APPLICATION FORM DULY FILLED:It can also be downloaded from HDFCs user friendly web based portal. (9) CHARGES FOR PROCESSING FEES:This is a standard and nominal fees to be paid at the time of applying for loan.

STAGES OF HOME LOAN:At DHFL, our focus is to simplify, abridge and shorten the process of acquiring your “Dream Home”. Once you have identified your “Dream home”, we work towards ensuring that you also get your home loan just as easily.

Our home loan application form, which you can download right here, is both simple and comprehensive. Simply fill it, collate the essential documents required to process your home loan and submit it to us along with a cheque favouring “Dewan Housing Finance Corporation Ltd” for the initial processing fees. If you any questions at this stage or need help with this, our home loan advisors are at hand to assist you with your application.

Your dream home is not too far away now, as we at DHFL work on getting your loan application processed at the earliest.

Here is a quick guide to the process we follow, and the steps involved before you become the proud owner of a beautiful home you dreamt of.

Four Major steps in a home loan approval process:

1-Home loan eligibility assessment-

At this stage, we want to determine that you can afford the loan repayments. Our credit team will conduct income verification and validate the accuracy of the information you have provided. Further basis your income, our credit team will arrive at an eligibility loan amount that you can avail from us.

A credit check will then be carried out to reveal your credit history; in this case we as a lender will obtain a credit report that will show the following details: 

Personal details such as: Name, Residential Addresses, Date of Birth and PAN card number Records of some recent credit accounts



Overdue Accounts (Defaults) which may have been listed against your name, including an indicator on whether the default amount has been paid or not

As your credit history plays an important part in the home loan application process, it is always advisable to clarify and resolve any credit related issues before lodging your loan application.

2-Conditional home loan sanction-

Considering there are no major issues with your income verification and credit checks, we at DHFL will provide conditional sanction for your loan. This means that we will issue a formal Letter of Offer cum acceptance favouring all the applicants to the loan. We recommend all applicants read this document carefully, sign and return it to us, making sure the information is correct and that everyone understands all the terms and conditions.

Your DHFL Home loan executive will be there to guide you through this step and assist you in compiling documents should we require any further information.

3-security assessment for providing home loan

Technical Assessment: A qualified technical officer will conduct a valuation on the property you intend to purchase and any property that will be used as security.



Legal Assessment: A qualified lawyer will examine the property documents i.e. chain of agreements/title etc to determine if the property documents provided by you are conducive for lending.

4-home loan disbursement-

Once you have formally accepted our loan offer, a thorough scrutiny of all of the above steps is conducted by our Operations Team to ensure accuracy of the entire process. Once the final check completed, you need to submit the final processing fees cheque favouring “Dewan Housing Finance Corporation Ltd” to your DHFL executive. After clearance of the final processing fees cheque, the disbursement cheque for the approved amount is prepared by the Operations Manager and it is handed over to you.

Upon receiving the funds you will start paying your first home loan repayment, usually one month after the disbursement date. And with these four simple steps, you and your family become a proud owner of your “Dream Home”- and take us that one step closer to fulfilling our mission – of providing everyone in India with a home of their own.

COMPANY PROFILE

CHAPTER-2

INTRODUCTION ABOUT THE ORGANIZATION

Dewan Housing Finance Corporation Ltd. (DHFL)

DHFL was established and incorporated by Rajesh Kumar Wadhawan on 11 April 1984. The name of the company was changed to Dewan Housing Development Finance Ltd. and later to Dewan Housing Finance Corporation. In 2010, DHFL acquired Deutsche Postbank Home Finance unit for ₹1079 crores. On 18 December 2013, DHFL acquired 74% stake DHFL Pramerica Life Insurance Company Ltd. Dewan Housing Finance Corporation Ltd. (DHFL) is a deposit-taking housing finance company, headquartered in Mumbai with branches in major cities across India. DHFL was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India. DHFL is the second housing finance company to be established in the country. The company also leases commercial and residential premises. DHFL is among the 50 biggest financial companies in India. DHFL's long-term bank loan programme is rated [ICRA]A(SO) and short-term is rated [ICRA]A1+ by ICRA Limited. As of June 2018, DHFL has 209 branches and 113 service centres. It also has representative offices in London and Dubai.

Type

Public

Traded as

BSE: 511072 NSE: DHFL

ISIN

INE202B01012

Industry

Financial services

Founded

11 April 1984; 34 years ago

Founder

Rajesh Wadhawan

Headquarters

Mumbai, India

Key people



Kapil Wadhawan (Chairman & Managing director) 

Harshil Mehta (CEO & Joint Managing director) 

Products 

Home Loan

Non-Housing Loans 

Services Operating

Deposits

Financial Services ₹10,464.5 crore (2017-18)

income Net income

₹1,172.1 crore (2017-18)

₹1,11,086 crore

AUM

3,746 (2018)

Number of employees Parent

Wadhawan Global Capital (WGC)

Website

www.dhfl.com

THE MANAGEMENT BODY OF COMPANY:

Shri Rakesh Kumar Wadhawan Chairman



Shri Kapil Wadhawan, Vice Chairman & Managing Director



Shri Sarang Wadhawan, Director



Shri R.P. Khosla, Director



Shri Waryam Singh, Director



Shri R.S. Hugar, Director



Shri G.P. Kohli, Director



Shri Ashok Kumar Gupta, Director



Mr. Bikrum Sen CEO, DHFL



Mr. Rajeev Sathe COO, DHFL

COMPANY PRODUCTS: Home Loans





New Home Loans



Plot Loans



Home Construction Loans



Home Loan Balance Transfer



Home Extension Loans



Home Renovation Loans



Plot & Construction Loans



NRI Home Loans



Pradhan Mantri Awas Yojana

Non Home Loans 



Loan Against Property 

Loan Against Residential Property



Loan Against Commercial Property



Commercial Property Purchase Loan



Lease Rental Discounting

SME Loans 

Business Loan



Plant & Machinery Loan



Property Term Loan

 

Medical Equipment Loan

Deposits 

Fixed Deposit for Individuals



Fixed Deposit for Trusts & Institutions



Wealth2Health Fixed Deposits for Individuals



Recurring Deposit



Corporate Deposits

AWARDS:-

1992 – Housing company of the Year 1995 – Udyog Excellence Awards Global Greentech Award for Technology Excellence in HR Greentech HR Excellence Award 2012 for Best Strategy (Gold Award) Marketer of Year Realty Plus Excellence Awards of the Year 2012 FM Stars of the Industry award for Excellence in Home Loan Banking 2015 Golden Peacock Innovative Product and Service Award (GPIPSA) Realty Plus Newsmaker of the Year 2011 Best Performing Primary Lending Institution under CLSS for MIG by MoHUA Leading Housing Finance Company of the Year by Times Network The Economic Times Iconic Brand Award 2018

Most Trusted Housing Finance Brand in the National Awards for Best Housing Finance Companies organised by CMO Asia and World Federation of Marketing Best Performing Primary Lender under CLSS for MIG by My Liveable City and NHB One of India’s ‘Dream Companies to work for’ in the housing finance sector, World HRD Congress.

GROUP COMPANIES:

DHFL Pramerica Life Insurance Company Ltd.



DHFL Vysya Housing Finance Ltd.



DHFL Pramerica Asset Managers Pvt. Ltd.



Aadhar Housing Finance Ltd.



Avanse Financial Services Ltd.



DHFL General Insurance Ltd.



DHFL Advisory And Investments Private Limited



DHFL Investments Limited

MISSION OF COMPANY:-



To provide easy access to all the Indian for the ownership of a home



To understand the consumer's needs



Improve the credit policies on a continuous basis to provide the maximum number of people with the loans



To formulate methods to help the customers in difficult times



To have an extensive network by spreading it all over the country



To respond all of the queries and questions of the customers.

SHAREHOLDING OF DHFL:Dewan Housing Fin. Corp.'s Shareholding Pattern:-

Description

Percent of Share (%)

Promoters

35.22

Individuals

4.81

Institutions

7.74

FII

36.74

Govt.

0.00

Others

15.49

Share Holding Pattern (% of Shares Held):-

CATEGORY OF SHAREHOLDER

Total

Number

of Percentage ShareHolding

Shares

(%)

Indian Promoter

12,30,49,714

39.21

Foreign Promoter

0

0.00

Total Promoter

12,30,49,714

39.21

Mutual Funds / UTI

92,20,988

2.94

FI/Bank/Insurance

1,08,42,126

3.46

Govt

2,000

0.00

Promoter

Non Promoter

Institutions

CATEGORY OF SHAREHOLDER

Total

Number

of Percentage ShareHolding

Shares

(%)

FII

0

0.00

Other

6,10,38,355

19.45

Total Institutions

8,11,03,469

25.85

Bodies Corporate

4,00,33,671

12.76

Individuals (upto Rs. 1 lakh)

3,69,27,914

11.77

Individuals (in excess of Rs. 1 lakh)

1,60,87,327

5.13

NRIs/OCBs

21,46,073

0.68

Others

6,74,65,664

21.50

Total Non-Institution

10,96,45,408

34.94

Total Non- Promoter

19,07,48,877

60.79

Depository Receipts

0

0.00

Total

31,37,98,591

100.00

Non-Institution

Dewan housing. Corp. held by Mutual Fund Schemes:-

Scheme

Holding(%)

IDBI Midcap Fund Growth

1.64

UTI Banking and Financial Services Fund Regular Plan 0.98 Income

IDBI Hybrid Equity Fund Growth

0.82

Motilal Oswal Midcap 100 ETF

0.55

UTI Value Opportunities Fund Regular Plan Growth

0.44

Reliance ETF Dividend Opportunities

0.31

UTI Childrens Career Fund Savings Plan

0.12

ICICI Prudential S&P BSE 500 ETF

0.07

BRANCHES OF DHFL:Home is where the heart is- Get your dream home from any of 570 locations in India

At DHFL, we understand that your dream home is always envisioned in a dream location. Whether in any of the metros, closer to nature or even your hometown, you now have the freedom to choose from 570 DHFL Home Loan locations in India. Our top locations for home loan in India include Delhi, Mumbai, Hyderabad, Gurgaon, Chennai, Bangalore and Pune.

Choose from different Home Loan locations to avail a DHFL Home Loan to fulfill your dream of owning a home of your own!

North: Delhi, Gurugram, Chandigarh, Lucknow, Jaipur, Ghaziabad, Faridabad, Noida, Ludhiana, Dehradun, Jodhpur, Kota, Amritsar, Jalandhar.

East: Kolkata, Patna, Guwahati, Kanpur, Bhubaneshwar, Guntur.

South: Bengaluru, Hyderabad, Chennai, Vijayawada, Thiruvananthapuram, Nellore, Mysuru, Vis hakhapatnam (Vizag).

West: Mumbai, Pune, Navi Mumbai, Ahmedabad, Indore, Nashik, Surat, Thane, Bhopal, Vadodara, Nagpur, Pimpri Chinchwad, Rajkot, Kolhapur, Vasai, Mira Road, Bhayander, Kalyan, Aurangabad.

SUBSIDIARIES OF DHFL:(1)DHFL Pramerica Life Insurance Company Ltd:-

DHFL Pramerica Life Insurance Company Limited is one of the fastest growing life insurance companies in India headquartered in Gurgaon, India. We provide a wide range of life insurance solutions for individuals as well as groups taking care of our customers’ various financial protection needs such as securing their child’s future, retirement planning, savings and wealth creation.

At a Glance126 branches 3906 employees 4,183.22 Crs. Assets Under Management Customers More than 23 Million lives secured. Sum assured Individual:-9,230 Crs. Group:-168,176.08 Crs.

(2)DHFL Vysya Housing Finance Ltd:DHFL Vysya Housing Finance and Aadhar Housing Finance are subsidiaries of WGC (Wadhawan Global Capital). Both, Aadhar and DHFL Vysya provide housing loans to LIG (Low Income Groups) but in mutually exclusive locations. While Aadhar is a well-established financial services brand in North, West and East India, DHFL Vysya has a strong foothold in South India. The merger will result in the creation of a stronger brand with a pan-India presence. The new entity would be able to create better products and services for their customers. This will result in

economies of scale, uniform acquisition structure, common policies, strong business growth and cost reduction.

(3)Aadhar Housing Finance Ltd.:Aadhar housing finance ltd (Aadhar), formerly known as DHFL Vysya Housing Finance Ltd, is one of the largest affordable housing finance companies in India servicing the home financing needs of the low income sections of the society. Aadhar endeavours to empower underserved millions to own their first homes.

Formed With the merger of DHFL Vysya and Aadhar Housing Finance, Aadhar is one of the few players in the industry with a pan-India presence. Today, we provide financing solutions to all segments of customers whose monthly income is between INR 5000 (USD 76) to INR 50000 (USD 765) and above.

Aadhar is a subsidiary of Wadhawan Global Capital(WGC) with equity participation from DHFL and International Finance Corporation(subsidiary of the World Bank)

We pride ourselves on the empathy, trust and transparency-led customer service we provide and see it as our key competitive advantage. Our customer-centric approach has helped us build a loan book of about a billion rupees. Today, our branches across 20 states help us reach more than 90% of the country's population and provide credit solutions that make homeownership accessible to everyone.

With two-thirds of India's 1.2 billion population residing in the hinterland, we are committed to serve home buyers from the low income group. After all, everyone deserves the security of a home – from barbers, tailors, carpenters, plumbers, kirana merchants to police, defence and railway

personnel, SMBs and the self-employed. By empowering this segment with the security of a home, we endeavour to create a truly inclusive India.

At Aadhar, we facilitate financial inclusion by enabling wider access to housing finance, ethically and responsibly. Our financing process is simple, transparent and speedy. Committed to the highest standards of ethical behaviour and professionalism, we are empowering Bharat to gain enhanced financial capabilities.

(4)Avanse Financial Services Ltd:Avanse is an extract of the French word for advance. And that’s what Avanse, a new age education finance company and an associate company of Dewan Housing Finance Corporation Limited (DHFL), is. We are a sensitive, advanced private finance company specializing in the niche space of

education.

Our mother company, DHFL, the second largest private housing finance company in India, started off with a dream in 1984 - a home for every Indian. Our founder, the late Shri Rajesh Kumar Wadhawan built a housing finance brand that revolutionized the real estate sector, brick by brick. Today, it is one of India’s largest housing finance companies in the private sector, having helped hundreds of thousands of Indians to fulfill their dreams of owning a home. Avanse is from that pedigree. Avanse provides financial assistance through Avanse standalone offices and also through the DHFL network offices. The Company funds students travelling to all key international advanced education

destinations

including

US,

UK,

Australia

etc.

The endeavour always has been to bring the best in financing flexibilities to the Indian student market. We started of small and our intention is not to compete in the existing market but create

new curves of evolution. Our brand complements the education sector and engages with students and educators to metamorphose financial solutions that are new age and tailored for specific needs. Today we have relationships and access across more than 400 educators and allied services and organization giving us broader as well as a deeper knowledge pool. We are over a 500 strong workforce

with

a

median

age

profile

of

35

years.

We take pride in the fact that the International Finance Corporation (IFC), an arm of the World Bank holds 20% equity stake in Avansanking Finance Company (NBFC), regulated by the Reserve Bank of India and envisioned with the aim to fulfil the need for education finance at reasonable terms. Every Indian youth has a right to the best in education. And lack of funds must be the last hindrance to this dream. We are dream-able We “Aspire Without Boundaries”.

(5)DHFL General Insurance Ltd.:-

It is insurance company by Wadhawan global capital group that provided us to health, motor,

Travel and home insurance.

(6)DHFL Advisory and Investments Private Limited:Dhfl Advisory & Investments Private Limited is a Private incorporated on 12 February 2016. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs.900,000,000 and its paid up capital is Rs.750,099,970.It is involved in Activities auxiliary to financial intermediation, except insurance and pension funding.[This Group includes activities involved in or closely related to financial inter-mediation other than insurance and pension funding but not themselves involving financial inter-mediation].

Dhfl Advisory & Investments Private Limited's Annual General Meeting (AGM) was last held on 29 September 2017 and as per records from Ministry of Corporate Affairs (MCA), its balance sheet

was

last

filed

on

31

March

2017.

Directors of Dhfl Advisory & Investments Private Limited are Mannil Venugopalan, Dheeraj Rajeshkumar

Wadhawan,

Kapil

Wadhawan,

Guru

Prasad

Kohli.

Dhfl Advisory & Investments Private Limited's Corporate Identification Number is (CIN) U67190MH2016PTC273074 and its registration number is 273074.Its Email address is [email protected] and its registered address is DHFL House, 3rd - 7th Floor, 19 Sahar Road Off Western Express Highway, Vile Parle (East) Mumbai Bandra Suburban MH 400099 IN.

(7)DHFL Investments Limited:Dhfl Investments Limited incorporated with MCA on 13 February 2017. The Dhfl Investments Limited is listed in the class of public ltd company and classified as Non Govt Company. This company is registered at Registrar of Companies (ROC), Mumbai with an Authorized Share Capital of Rs. 120.0 CR and its paid up capital is 101.0 CR.. Dhfl Investments Limited's last Annual General Meeting (AGM) was held on NA, and date of latest balance sheet available from Ministry of Corporate Affairs (MCA) is NA. The company has 4 directors/key management personal. Dhfl Investments Limited company registration number is 291108 and its Corporate Identification Number (CIN) provided from MCA is U74999MH2017PLC291108. Dhfl Investments Limited company's registered office address is Dhfl House, 3rd 7th Floor, 19 Sahar Road Off Western Express Highway, Vile Parle (East), Mumbai Bandra Suburban Mh 400099 In. Find other contact information for Dhfl Investments Limited such as Email,

Website and more below.The company has reportedly 0 charges associated and 82 documents available for download.

ADVANTAGES OF DHFL HOME LOANS:

Attractive interest rates with floating and fixed type based on your preference



Low interest rates



Low processing fees



Less paperwork



No prepayment penalties



No hidden costs and administrative charges



Easy home loan balance transfer



Transparent application process



Flexible repayment options.

FEATURE OF DHFL HOME LOANS:Objective: DHFL home loan aims to help millions of people achieve their dream of owning a house. Loan Amount: The loan amount is also determined by the repaying capacity and credit profile. Rate of Interest: Starts from 8.35% onwards Processing fee: Up to INR 20,000, however, it depends on the loan amount Tenure: The maximum repayment tenure is up to 30 years.

Easy Balance Transfer: With this facility, you can transfer your existing home loan with other bank to DHFL for a lower interest rate. Prepayment: No charges are levied on partial prepayment or foreclosure of the home loan. Insurance Policy: An insurance cover to protect your family against repayment of home loan in the event of unfortunate situations.

INTRODUCTION OF DEPARTMENT

CHAPTER-3 INTRODUCTION OF DEPARTMENT Home is a dream of a person that shows the quantity of efforts, sacrifices luxuries and above all gathering funds little by little to afford ones dream. Home is one of the things that everyone one wants to own. Home is a shelter to person where he rests and feel comfortable. Many banks providing home loans whether commercial banks or financial institutions to the people who want to have a home. DHFL-(Housing Development And Finance Corporation) Home Loan, India have been serving the people for around three decades and providing various housing loan according to their varied needs at attractive & reasonable interest rates. Owing to their wide network of financing, DHFL Housing Loans provides services at your doorstep and helps you find a home as per your requirements. Many banks are providing home loans at cheapest rate to attract consumers towards them. The more customer friendly attitude of these banks, currently offer to consumers cheapest loan over homes. In view of acute housing shortage in the country, and keeping in mind the social – economic role of commercial banks in the present times, the RBI advised banks to encourage the flow of credit for housing finance. With the RBI reducing bank rate, the home loan market rates nose-diving by 50 basis points. The DHFL has become the first player in this sector to announce a housing loan for a 20 years period. No doubt it will enhance the end cost people to plan their house over longer duration now; it has been made easy for a person to buy that dream house which he dreamt of long ago. DHFL also provides with Home Improvement Loan for internal and external repairs and other structural

improvements like painting, waterproofing, plumbing and electric works, tiling and flooring, grills and aluminium windows. DHFL finances up to 85% of the cost of renovation (100% for existing customers). Current status is that DHFL reduced home loan rates by 50 basis points for all its existing floating rate customers.

ADVANTAGES OF HOME LOANS:The various benefits of home loans arising to the customers are:(i) Attractive interest rates:The various banks offer attractive interest rates to boost and help their customers. Many banks provide loans on fixed or floating rates to facilitate consumers as per their needs. (ii) Help in owning a home:The home availed by a person with the help of banks, because they provide technical and financial assistance to customers for owning their dream home. (iii)No requirement of guarantor:The commercial banks now a day, liberlise their laws regarding home loans. Some of banks don’t even require the guarantor to grant loan to their consumers. They also make consumers free by reliving him to find a guarantor to complete the proceedings of availing loan. (iv)Door-Step Services:These door to step services are provided from enquiry stage to the final disbursement takes place such services are beneficial for customers in present busy life. Banks like ICICI bank and standard chartered bank provide door to step services to customers to borrow loan.

(v) Loan period:-There are many banks which provide maximum loan tenures up to 15-20 years based on the loan amount and the creatibility of customers. This relieves the customers to repay loan amount till a long period. (vi) For accidental death insurance:Some banks provide free accidental death insurance with housing loan which is also beneficial for the customers. These benefits or advantages of home loans are responsible for making than so popular among customer that a person who don‟t have their home and want to buy, they do it with home loan. Home loans help such persons in making their dream home.

DISADVANTAGES OF HOME LOANS:The main disadvantages of home loans are high lightened as below:Delays in processing:Many times, there are huge delays in processing of providing home loans because various formulations to be fulfilled in this process. Due to these delays customers feel mentally as well as financially weak. Fluctuating interest rates:Some banks give home loans at floating rates, which fluctuate at Different intervals due to some reasons. These changes sometimes, may lead to increase in interest rate which will increase the cost of home loans to the customers High Cost:The public sector banks charge high processing cost for home loans sanctioning. They are forced to pay serious charges at various stages to fulfill the requirements. Some consumers are not able

to pay such charges so such people could not avail the benefits of home loan schemes. Problems in disbursement:There are many problems in disbursement of home loan amount. There are some delay in disbursement of loan amount to the customers due to legal formalities. This causes problems to the customers. These are limitations or disadvantages of home loans. But sometimes some banks charges high installments to repay loan amount. Such also causes problem to customers. These limitations can be removed by providing good and promote services to the customers.

DISBURSEMENT OF HOME LOANS:The every bank has its own procedure to disburse the loan amount among customers. After choosing your right home, the next step is disbursement of home loans. The loan amount is disbursed after identifying and selecting the property or home that are purchased and submit the requisite legal documents. In the disbursement of home loans a clear title and full verification to ensure that a person has full rights on his house. The 230A clearance of seller and /or 371 clearances from the appropriate authority of income tax is also needed. (I) Eligibility criteria:However, if one is a resident or non-resident individual who is planning to buy a house in India, one can apply for a home loan. If a person has decided to buy a property in the near future, he/she can apply for a loan before even selecting the property. Once the maximum amount to put into the property has been decided, the Housing Finance Institutions or Banks will let the customer know that how much he/she is eligible for and this helps to plan out the budget. (ii) Conditions regarding co-applicants:-

All Housing Finance Institutions lay down conditions on who can be co-applicants. All co-owners to the property need to be co-applicants to the loan necessarily. These institutions do not permit minors to join in as either co -owner or as co-applicants because a minor is not eligible to enter into a contact as per law. They do not permit even friends or relatives who are not blood relatives to take a property jointly.However, Income of co applicants can be clubbed together to get higher loan eligibility. Given below is a Table that throw light on acceptable relationship of a co-applicant for clubbing of income. Income Clubbing of Co-applicants:- It is as follows:Combination Income Clubbing: Husband-Wife: - Income of husband-wife can be clubbed.  Parent - son: - It can be clubbed if only son is there but not if any male sibling exists.  Brother-Brother: - If they are currently staying together and intend to stay together in the new

property, then only, their income-can be clubbed for above purposes.

 Brother-Sister: - No clubbing-is possible.  Sister-Sister: - No clubbing is possible.  Parent-Minor- Child: - No clubbing is possible in this case also. (iii) General Terms and Conditions: The following are the terms and conditions applicable to the basic home loan product only. These are likely to change on the basis of the variations of the home loan product. Typically, in general home loans, the following conditions are applicable:(1) The loan to value ratio (LTV) cannot exceed a particular percentage. This differs from product to product and from one Housing Finance Institutional Bank (HFI/B) to another. The components of the value of the Property calculated here are covered under cost of property.

(2) The maximum tenure of the bank is nominally fixed by HFI/Bs. However, HFls/Bs do provide for different tenures with different terms and conditions. (3) The installment that one pay is normally restricted to about-50-per cent of the monthly gross income of the candidate. (4) The total monthly outflow towards all the loans that have been availed of, including the current loan is normally restricted to 50% of the gross monthly income. (5) One will be eligible for a loan amount which is the lowest as per one's eligibility. This is calculated as per the LTV norms, the HR, norms and the FOIR norms as mentioned above. (6) Most HFls/Bs consider the profile before they judge the repayment capacity. The judgement is based on age, qualifications, number of dependents, employment details, employer credentials, work experience, previous track record of repayment of any loans that have been availed of, occupation, the industry to which the candidate's business relates to, if he/she is self-employed, then the turnover in the last 3-4 years etc. (7) Some HFIs/Bs insists on guarantees from other individuals for the repayment of the loan. In such cases, the customers has to arrange for the personal guarantee before the disbursement of the loan takes place. (8) The property should be technically clear before the HFIs/Bs disburses the loans amount. Most of institutions and banks have a teams of technical experts who visit the site to get a technical report before the disbursement of loan. This is also beneficial to the customer as they check for the technical quality and compliance with local laws. (9) The property should be legally clear before one can avail of a disbursement of the loan amount. Housing-Finance Institutions /Banks (HFIs/Bs) take legal clearance from their lawyers before the disbursement

of

amount.

This

proves

to

be

beneficial

to

the

customers

as a legal expert checks his/her documentation to ensure that he/she get a proper title to the property. (10) The disbursement of the loan is as per the progress of construction of the property unless it is a ready property in which case the disbursement will be by one single cheque. PEMI or simple interest on the loan amount disbursed to the customer in case of a part disbursement will be payable by the customer on the disbursement. (11) The disbursement in most cases will be favoring the builder or the seller or the society or the development authority as the case may be. The disbursement will come in the customer's favour under special circumstances only. (12) The repayment of loan can be made either through deduction against salary, post-dated cheques, standing instructions or Auto debit instructions to bank. (13) The principle is amortized either on annual reducing or monthly reducing basis as the case may be. The above terms and conditions are generally true for most Housing finance Institutions/Banks with respect to the general Home Loans. However, the specific terms and conditions vary with respect

to

special

Housing

Finance

Institutions

or

Banks.

(iv)Charges applicable to home loans:The different kinds of charges applicable to home loans are discussed below:(a) Processing fees:First of all, comes the process fee. This is a charge that is levied by most HFls/Bs. This has to be paid at the time of submission of the application form. It's normally charged as a percentage of the loan amount sanctioned. Some HFls also charge a flat fee based on the loan amount instead of a percentage. When a lower amount is sanctioned the excess fees paid at the time of submission of

the application is adjusted with the charges, which one make to the HFI/B subsequently. Most HFls/Bs refund the processing fee if the loan application is rejected. (b) Administrative fees:This charge is again, normally, a percentage of the loan amount sanctioned. It is collected by the HFI/B for the maintenance of customer's records, issuing interest certificates, legal charges, technical charges, etc. though the tenure of the loan. It is payable by the customer when he/she accepts the offer letter given by the HFI/B. This payment has to be made before the availment of the disbursement. The mode of collection of these fees varies from one HFI/B to another. (c) Rate of interest:This is the rate of interest applicable on the loan amount through the tenure of the loan. It is charged on the principal monthly reducing method. Most HFIs/Bs give an option to select either a fixed rate

of

interest

or

a

variable

rate

of

interest.

(d) Legal Charges:Some HFIs/Bs mainly Public Sector Banks levy legal charges that they incur on getting the property

documents

vetted

by

their

panel

of

lawyers.

(e) Technical Charges:These charges are also levied by certain Housing Finance Institutions/Banks (HFIs/Bs) to meet their expenses on the technical site visits to the customer's property. This ensures quality of construction and construction within the norms as stipulated by the respective approval authority. (f) Stamp duty and registration charges:HFIs that go in for a registered mortgage pass these charges on to the customer. These are rather heavy in certain states depending on the laws laid down by the state where one buy a property. (g) Personal Guarantee from Charges:-

Since the personal guarantee provided by the customer need to be stamped, these charges are also recovered from the customer. They are charged to him by HFIs who demand for Guarantees. (h)Cheque Bounce Charges:In case the cheques through which one make a payment to HFls get dishonored, some minimum charges

are

levied

by

the

HFI.

The

same

are

recovered

from

the

customer.

(i) Delayed payment charges:HFls/Bs charge delayed payment charges from the customer if he/she delays the payment of installments beyond the due date. (j) Additional charges:These are levied as a percentage on the delayed payment charges by most HFls. They are levied if one fail to pay the dues within the stipulated time after a delay has taken place. (k) Incidental charge:This is payable in case the HFI/B sends a representative from their organization to collect their outstanding dues. It is normally charged at a flat rate per visit. These charges are levied by most HFls/Bs. (l) Prepayment Charges:This is a penalty charged by HFls/Bs from when one makes either a part prepayment or a full repayment of the loan. This charge is levied only on lump sum payments and not on the EMls that one pays. This charge is levied on the amount prepaid by one and not on the entire outstanding principal. These charges are gradually being discount. So, these are the charges levied by most Housing Finance Institutions and Banks while granting home loan to the customers. Now, the decision on the repayment capacity shall be talked about as follows. (v) Judgement regarding repayment capacity on the basis of income:-

To understand how the income of a customer is considered to arrive at his repayment capacity, it is first necessary to classify customers into salaried and self- employed individuals. (a) The income of the salaried individual is considered in the following manner:Gross monthly income as it appears on the salary slip. Less:- Any non- regular variable income appearing on the salary slip (including overtime, etc.) Add: - 50 per cent of the average variable income of the last six months. Add: - Any fixed cash/voucher payments for which proof can be submitted. Add: - 50 per cent of the average variable cash/voucher payments with proof like traveling reimbursement etc. Add:- HRA receivable if not being received already in the salary slip. The above income calculated for the calculation of eligibility using IIR and FOIR norms. For calculation of FOIR, the installments of all the loans that one has availed of currently for which repayment is being made is taken into account as well. The lower of the two eligibilities is considered as the maximum repayment capacity. b) To consider income of Self-employed individuals we further classify them into Professionals and non-professionals. 

Professionals:- Comprising doctors, chartered accountants, lawyers, architects, etc. For calculation of eligibility of professional's income is computed by most HFIs using the gross professional receipts instead of the Net profit as in the case of self-employed nonprofessionals.



Non-Professionals: - The income of non-professionals is normally calculated by HFIs in the

following

Average of the net profits of last 2 years as it appears in the profit and loss account (Returns need to be filed for the same. They should be filed regularly before the due date is over). Less: - Any income, which is unusual and non-recurring in nature like sale of some asset, etc which affects profits substantially, Add: - Any expense that is unusual and non-recurring in nature like repairs and maintenance that has not been capitalized and effect profit adversely. Add: - 50 per cent of the average depreciation of the last two years. The above income is calculated for the calculation of eligibility using IIR and FOIR norms. For calculation of FOIR the installments of all the loans that one has availed of currently for which repayment is being made is taken into account and the eligibility is worked out. The lower of the two eligibilities is considered as the maximum repayment capacity. (vi)Credit documentation:Given below is the exhaustive list of credit documents- that need to be submitted for a general home loan product. The documents vary from one HFI/B to another based on one's employer, qualifications experience etc. the general requirements are as follows: (a) Income Documents:For salaried slips for the last three months appointments letter-salary certificate-retainership agreement, if appointed as a consultant-Form 16 issued by the employer in customer's name income document for self -employee - last three years profit and loss account statement duly attested

by

Chartered

Accountants.

Last

three

years

Balance

Sheets

duly attested by Chartered Accountant, last three years Income Tax Returns with computation chart duly filed and certified by the Income Tax authorities. (b) Proof of employment:-

Identify card issued by the employer- Visiting card. (c) Employer's details (In case of private limited companies):Profile of employer on employers letterhead (to be signed by a senior person in the organization) comprising • Name of promoter/directors • Background of promoters/directors • Nature of business activity of your employer • Number of employees • List of branches/factories • List of suppliers • List of clients/customers • Turnover of employer • Annual reports of the employer for the last two to three years. (d) Proof of age (Anyone of the following):Passport- Voter's ID card-PAN card-Ration card-Employer's identity card-School leaving certificate-Birth certificate. (e) Proof of residence (Anyone of the following):Ration card-Passport- PAN card-Rent agreement, if the customer is staying currently on rent- Bank Pass book-Allotment letter from the company if he/she is residing in company quarters. (f) Proof of name change (If applicable):A copy of the official gazette – A copy of a newspaper advertisement publicizing the name change-Marriage certificates. (g) Proof if investment (If required):-

Bank statement for the last six months of all operating and salary accounts - Bank statements for the last six months of all current accounts, if self-employed-any other photocopies of investments held, if required by the HFC. (vii) Legal documentation:Legal Documentation the typical legal documents that need to be submitted to the HFC arc discussed here. Given below is a list of legal property documents that need to be submitted to the HFC for mortgage of the property. The name and the list of documents vary from state to state and also depend on the type of property being financed. A broad outline of the documents required is given below. a) Acceptance copy of the offer letter issued by the HFC/B. b) Title documents of the property that include -sale agreement duly Registered-Own contribution receipts - Allotment letter-Registration receipt-Land documents indicating ownership, if applicable- Possession letter-Lease agreement, if applicable (Property bought from a development authority)

-

Mortgage

deed

if

the

HFC

opts

for

a

registered

mortgage.

c) No Objection Certificate from the developer, society or development authority as applicable. d)Personal

Guarantees,

if

applicable.

e) In case of alternator additional security, documents for the same depending upon the security details. f)Postdated

cheques

for

the

EMls.

The above documents are only indicative in nature and do not cover the entire list. It may, also be noted that in a resale case, the previous chain of agreement also need to be taken. (viii) The tax benefits that are applicable to housing loans for individuals:-

Currently Tax Benefits to individuals are available only for the Home Loans and Home Extension Loans

products.

The

benefits

available

are

covered

under

these

sections.

Property Insurance:Is it compulsory to insure the property? some HFls insist on a mortgage redemption life insurance policy. In this case the customer gets a benefit of an interest rate reduction. Though the HFI may not insist, it is better to go in for property insurance to safeguard the asset against any sort of damage or loss. The customer can select the tenure for the property insurance. The insurance premium is changed up front. Most insurance companies provide for huge discounts on the rate of premium for larger tenures. The premium charged currently is seventy-seven for every lakh of property for a year. So a customer has to fulfill various conditions to be eligible for availing home loan from a Housing Finance Institution/Bank After fulfilling these conditions, a customer can avail loan at low interest rate i.e. fixed rate floating rate. A decision on whether one should go in for a fixed-rate loan or a floating-rate loan now is a function of two factors i.e. One's perception of where interest rates in the economy are headed and one' capacity to ride the interest rate changes. A floating-rate loan let one take advantage of further falls in interest rates but one stand to loose if interest rate, rise again. However this decision is based on the perception of the consumer.

LITERATURE REVIEW

CHAPTER-4 LITERATURE REVIEW SUMMARY:• After going through previous studies of Home loans I came to conclude that• There is growth of home loans after 2001. • Home loans have an inverse relation with interest rates i.e. when interest rate low the demand of home loans increase. (Ojha 1987) • People are going more towards home loans than private mortgage insurance.(Berstain 2008) • Government taking various steps to encourage people to go toward home loan.(Haavio, Kauppi 2000) • Growth of home loans are due to increase of living standard of people, shifting from joint family to nuclear family.(Lacourr, Micheal 2007) • There are some problems also attach with these home loans such as time i.e filling of application of loan to closing ,people have their own specified needs from these home loans which are not fulfilling. (Lacour Micheal 2006). • SBI provide a very low interest rate on home loans as compared to other banks. (SBI May 2000) Now after this conclusion the details of reviews are below:Berstain David (2009) examined in his study taken from 2001 to 2008 that in this period there is increase use of home loans as compared to private mortgage insurance (PMI).he have divided his study into four sections. Section 1 describes why people are going more for home loans than PMI.

the main reason for this that now home loans market provide Piggybank loans for those people who don’t have 20% of down payment. Section 2 tells the factors responsible for the growth of home loans and the risks on shifting toward home equity market without any PMI coverage. PMI can protect lenders from most losses up to 80% of LTV and the absence of PMI will result in considerable losses in an environment. Section 3 tells the measures in changes of type of loans. For this he have taken the data from the 2001 and 2007 AHS a joint project by HUD and Census The results of this analysis presented in Table One reveal a sharp increase in the Prevalence of owner occupied properties with multiple mortgages among properties with Newly originated first mortgages. Section 4 describe the Financial status of single-lien and multiple-lien households and for this he have taken the survey of consumer finance and show that financial position is more weaker in multiple loans than the single loans. Vandell, Kerry D (2008) analysis the sharp rise and than suddenly drop down home prices from the period 1998- 2008. changes in prices are for the reasons as such economic fundamentals , the problem was not subprime lending per se, but the Fed’s dramatic reductions, then increases in interest rates during the early- mid-2000 , the housing ―boom was concentrated in those markets with significant supply-side restrictions, which tend to be more price-volatile; he problem was not in the excess supply of credit in aggregate, or the increase in subprime per se, but rather in the increased or reduced presence of certain other mortgage products. La courr, Micheal (2007) analysis in his study the factors affected the increase in the level of Annual percentages rates (APR) spread reporting during 2005 over 2004.the three main factors are changes in lender business practices; (2) changes in the risk profile of borrowers; and (3) changes in the yield curve environment. The result show that after controlling for the mix of loan types, credit risk factors, and the yield curve, there was no statistically significant increase in reportable

volume for loans originated directly by lenders during 2005, though indirect, wholesale originations did significantly increase. Finally, given a model of the factors affecting results for 2004-2005, we predict that 2006 results will continue to show an increase in the percentage of loans that are higher priced when final numbers are released in September 2007. La cour Micheal (2006) examined the home purchase mortgage product preferences of LMI households. Objectives of his study to analysis the factors that determined factors their choice of mortgage product is different income groups have some specified need to meet particular product. The role pricing and product substitution play in this segment of the market and do results vary when loans are originated through mortgage brokers? For this they have use the regression analysis and the results are high interest risk reduce loan value. Self- employed borrower chooses reduce documented loans than salaried workers use of this product type seems to be more prevalent among borrowers with substantial funds for down payment and better credit scores. In case of pricing Multi families requires price premium and larger loans carry lower rate. And the role of time, particularly, the time required for the loan to proceed from application to closing it is find that government lending taking the longest time and Nonprime loans the shortest time Multi families properties take longer time in closing. And during peak season take longer time to close. And for last objective it is find that broker originated loans close faster. The effect of mortgage brokers on pricing and other market outcomes is fertile ground for additional research. Dr. Rangarajan C. (2001) said that the financial system of India built a vast network of financial institutions and markets over times and the sector is dominated by banking sector which accounts for about two-third of the assets of organized financial sector. Haavio,Kauppi (2000) stated that countries where a large proportion of the population lives in owner – occupied housing are experiencing higher unemployment rates. Than countries where the

majority of people live in private rental housing, which might suggest that rental housing enhances labour mobility. In this paper, they develop a simple inter temporal two region model that allow us to compare owner occupied housing markets to rental markets and to analyze how these alternative arrangements allocate people in space and time .Announced that it will offer loans for Rs. 2-10 lakh at 12.5 percent the lowest rate offered by any housing finance provider, big brother SBI has taken the rate war in the home loans category to new heights. This is because, apart from the low rate, the interest on these loans is calculated on principal, which is reduced every month unlike other housing finance companies which calculate interest on annually reducing basis. Narasimham Committee (1991) points out that although the banking system in our country has made rapid progress during the last two decades, there is decline in productivity and efficiency and erosion of profitability. The committee strongly make indications of liberlising, deregulating economy to make Indian baking system more competitive and efficient. Ojha (1987) in his paper "modern international caparison of productivity and Profitability of public sector banks of India" making Comparison on the basis of per employee indicators and taking examples of state bank group and Punjab National bank noted that Indian banks are the lowest in all accounts. However such international comparison will not be fair for numbers of reasons. Godse (1983) in his essay, “looking a fresh at banking productivity” observe that productivity aspect is only at the Conceptualization stage in banking industry. He suggested improvement in productivity and procedures, costing of operations and capital expenditure etc.

Fanning (1982), while examining bank productivity of British banks observed that although the productivity of the UK clearing banks is improving, they are still heavily over manned as compared with similar banks elsewhere. Kulkarni (1979) in his study “Development responsibility and profitability of banks” stated that while considering banks costs and profits, social benefits arising out of it cannot be ignored. He suggested that while meeting social responsibility banks should try to make developmental business as successful as possible. Varde and Singh (1979) in a study "profitability of commercial banks" over 15 years gave consideration to two types of factors that effects interest rates levels i.e. internal factors (including operational and managerial efficiency of individual basis). Banking Commission (1972) reviewed bank operating methods and procedures and made recommendations for improving and modernizing these, particularly relating to customers services, credit procedure and internal control systems. It observed that present methods of working out branch profitability are not appropriate and an integrated costing and financial reporting system is needed. Department of Banking operations and development, RBI : Bombay observed that the rapid expansion of banks activities since 1970 called for a phase of consolidations to improve the quality of banks operational efficiency, productivity and customer services.

RESEARCH METHODOLOGY

CHAPTER-5 RESEARCH METHODOLOGY Research methodology is a methodology for collecting all sorts of information & data pertaining to the subject in question. The objective is to examine all the issues involved & conduct situational analysis. The methodology includes the overall research design, sampling procedure & fieldwork done & finally the analysis procedure. The methodology used in the study consistent of sample survey using both primary & secondary data. The primary data has been collected with the help of questionnaire as well as personal observation book, magazine; journals have been referred for secondary data. The questionnaire has been drafted & presented by the researcher himself.

MEANING OF RESEARCH:Research in common parlance refers to a search for knowledge. Once can also define research as a scientific and systematic search for pertinent information on a specific topic. In fact, research is an art of scientific investigation. The Advanced Learner’s Dictionary of Current English lays down the meaning of research as “a careful investigation or inquiry specially through search for new facts in any branch of knowledge.” Redman and Mory define research as a “systematized effort to gain new knowledge.” Some people consider research as a movement, a movement from the known to the unknown. It is actually a voyage of discovery. We all possess the vital instinct of inquisitiveness for, when the unknown confronts us, we wonder and our inquisitiveness makes us probe and attain full and fuller understanding of the unknown. This inquisitiveness is the mother of all knowledge and the method, which man employs for obtaining the knowledge of whatever the unknown, can be termed as research. Research is an academic activity and as such the

term should be used in a technical sense. According to Clifford Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis. D. Slesinger and M. Stephenson in the Encyclopedia of Social Sciences define research as “the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in the practice of an art.” Research is, thus, an original contribution to the existing stock of knowledge making for its advancement. It is the pursuit of truth with the help of study, observation, comparison and experiment. In short, the search for knowledge through objective and systematic method of finding solution to a problem is research. The systematic approach concerning generalisation and the formulation of a theory is also research. As such the term ‘research’ refers to the systematic method consisting of enunciating the problem, formulating a hypothesis, collecting the facts or data, analyzing the facts and reaching certain conclusions either in the form of solutions(s) towards the concerned problem or in certain generalizations for some theoretical formula.

OBJECTIVES OF RESEARCH:-

The purpose of research is to discover answers to questions through the application of scientific procedures. The main aim of research is to find out the truth which is hidden and which has not been discovered as yet. Though each research study has its own specific purpose, we may think of research objectives as falling into a number of following broad groupings:



To gain familiarity with a phenomenon or to achieve new insights into it (studies with this object in view are termed as exploratory or formulative research studies);



To portray accurately the characteristics of a particular individual, situation or a group(studies with this object in view are known as descriptive research studies);



To determine the frequency with which something occurs or with which it is associated with something else (studies with this object in view are known as diagnostic research studies);



To test a hypothesis of a causal relationship between variables (such studies are known as hypothesis-testing research studies).

MOTIVATION IN RESEARCH:-

What makes people to undertake research? This is a question of fundamental importance. The possible motives for doing research may be either one or more of the following:-



Desire to get a research degree along with its consequential benefits;



Desire to face the challenge in solving the unsolved problems, i.e., concern over practical problems initiates research;



Desire to get intellectual joy of doing some creative work;

However, this is not an exhaustive list of factors motivating people to undertake research studies. Many more factors such as directives of government, employment conditions, curiosity about new things, desire to understand causal relationships, social thinking and

awakening, and the like may as well motivate (or at times compel) people to perform research operations.

TYPES OF RESEARCH: -

The basic types of research are as follows:-



Descriptive vs. Analytical: - Descriptive research includes surveys and fact-finding enquiries of different kinds. The major purpose of descriptive research is description of the state of affairs as it exists at present. In social science and business research we quite often use the term Ex post facto research for descriptive research studies. The main characteristic of this method is that the researcher has no control over the variables; he can only report what has happened or what is happening. Most ex post facto research projects are used for descriptive studies in which the researcher seeks to measure such items as, for example, frequency of shopping, preferences of people, or similar data. Ex post facto studies also include attempts by researchers to discover causes even when they cannot control the variables. The methods of research utilized in descriptive research are survey methods of all kinds, including comparative and correlational methods. In analytical research, on the other hand, the researcher has to use facts or information already available, and analyze these to make a critical evaluation of the material.



Applied vs. Fundamental: - Research can either be applied (or action) research or fundamental (to basic or pure) research. Applied research aims at finding a solution for an immediate problem facing a society or an industrial/business organization.

Whereas fundamental research is mainly concerned with generalizations and with the formulation of a theory. “Gathering knowledge for knowledge’s sake is termed ‘pure’ or ‘basic’ research.” Research concerning some natural phenomenon or relating to pure mathematics are examples of fundamental research. Similarly, research studies, concerning human behaviour carried on with a view to make generalizations about human behaviour, are also examples of fundamental research, but research aimed at certain conclusions (say, a solution) facing a concrete social or business problem is an example of applied research. Research to identify social, economic or political trends that may affect a particular institution or the copy research (research to find out whether certain communications will be read and understood) or the marketing research or evaluation research are examples of applied research. Thus, the central aim of applied research is to discover a solution for some pressing practical problem, whereas basic research is directed towards finding information that has a broad base of applications and thus, adds to the already existing organized body of scientific knowledge. 

Quantitative vs. Qualitative: - Quantitative research is based on the measurement of quantity or amount. It is applicable to phenomena that can be expressed in terms of quantity. Qualitative research, on the other hand, is concerned with qualitative phenomenon, i.e., phenomena relating to or involving quality or kind. For instance, when we are interested in investigating the reasons for human behaviour (i.e., why people thinkor do certain things), we quite often talk of ‘Motivation Research’, an important type of qualitative research. This type of research aims at discovering the underlying motives and desires, using in depth interviews for the purpose. Other

techniques of such research are word association tests, sentence completion tests, story completion tests and similar other projective techniques. Attitude or opinion research i.e., research designed to find out how people feel or what they think about a particular subject or institution is also qualitative research. Qualitative research is especially important in the behavioural sciences where the aim is to discover the underlying motives of human behaviour. Through such research we can analyze the various factors which motivate people to behave in a particular manner or which make people like or dislike a particular thing. It may be stated, however, that to apply qualitative research in practice is relatively a difficult job and therefore, while doing such research, one should seek guidance from experimental psychologists. 

Conceptual vs. Empirical: - Conceptual research is that related to some abstract idea(s) or theory. It is generally used by philosophers and thinkers to develop new concepts or to reinterpret existing ones. On the other hand, empirical research relies on experience or observation alone, often without due regard for system and theory. It is data-based research, coming up with conclusions which are capable of being verified by observation or experiment. We can also call it as experimental type of research. In such a research it is necessary to get at facts firsthand, at their source, and actively to go about doing certain things to stimulate the production of desired information. In such a research, the researcher must first provide himself with a working hypothesis or guess as to the probable results. He then works to get enough facts (data) to prove or disprove his hypothesis. He then sets up experimental designs which he thinks will manipulate the persons or the materials concerned so as to bring forth the desired information. Such research is thus characterised by the

experimenter’s control over the variables under study and his deliberate manipulation of one of them to study its effects. Empirical research is appropriate when proof is sought that certain variables affect other variables in some way. Evidence gathered through experiments or empirical studies is today considered to be the most powerful support possible for a given hypothesis. 

Some Other Types of Research: - All other types of research are variations of one or more of the above stated approaches, based on either the purpose of research, or the time required to accomplish research, on the environment in which research is done, or on the basis of some other similar factor. Form the point of view of time, we can think of research either as one-time research or longitudinal research. In the former case the research is confined to a single time-period, whereas in the latter case the research is carried on over several time-periods. Research can be fieldsetting research or laboratory research or simulation research, depending upon the environment in which it is to be carried out. Research can as well be understood as clinical or diagnostic research. Such research follow case-study methods or in depth approaches to reach the basic causal relations. Such studies usually go deep into the causes of things or events that interest us, using very small samples and very deep probing data gathering devices. The research may be exploratory or it may be formalized. The objective of exploratory research is the development of hypotheses rather than their testing, whereas formalized research studies are those with substantial structure and with specific hypotheses to be tested. Historical research is that which utilizes historical sources like documents, remains, etc. to study events or ideas of the past, including the philosophy of persons and groups at any remote

point of time. Research can also be classified as conclusion-oriented and decisionoriented. While doing conclusion oriented research, a researcher is free to pick up a problem, redesign the enquiry as he proceeds and is prepared to conceptualize as he wishes. Decision-oriented research is always for the need of a decision maker and the researcher in this case is not free to embark upon research according to his own inclination. Operations research is an example of decision oriented research since it is a scientific method of providing executive departments with a quantitative basis for decisions regarding operations under their control.

RESEARCH APPROACHES:The above description of the types of research brings to light the fact that there are two basic approaches to research, viz., quantitative approach and the qualitative approach. The former involves the generation of data in quantitative form which can be subjected to rigorous quantitative analysis in a formal and rigid fashion. This approach can be further subclassified into inferential, experimental and simulation approaches to research. The purpose of inferential approach to research is to form a database from which to infer characteristics or relationships of population. This usually means survey research where a sample of population is studied (questioned or observed) to determine its characteristics, and it is then inferred that the population has the same characteristics. Experimental approach is characterised by much greater control over the research environment and in this case some variables are manipulated to observe their effect on other variables. Simulation approach involves the construction of an artificial environment within which relevant information and data can be generated. This permits an observation of the dynamic behaviour of a system

(or its sub-system) under controlled conditions. The term ‘simulation’ in the context of business and social sciences applications refers to “the operation of a numerical model that represents the structure of a dynamic process. Given the values of initial conditions, parameters and exogenous variables, a simulation is run to represent the behaviour of the process over time.” Simulation approach can also be useful in building models for understanding future conditions. Qualitative approach to research is concerned with subjective assessment of attitudes, opinions and behaviour. Research in such a situation is a function of researcher’s insights and impressions. Such an approach to research generates results either in non-quantitative form or in the form which are not subjected to rigorous quantitative analysis. Generally, the techniques of focus group interviews, projective techniques and depth interviews are used.

SIGNIFICANCE OF RESEARCH:-

“All progress is born of inquiry. Doubt is often better than overconfidence, for it leads to inquiry, and inquiry leads to invention” is a famous Hudson Maxim in context of which the significance of research can well be understood. Increased amounts of research make progress possible. Research inculcates scientific and inductive thinking and it promotes the development of logical habits of thinking and organization. The role of research in several fields of applied economics, whether related to business or to the economy as a whole, has greatly increased in modern times. The increasingly complex nature of business and government has focused attention on the use of research in solving operational problems. Research, as an aid to economic policy, has gained added importance, both for government and business. Research provides the basis for nearly all government policies in our

economic system. For instance, government’s budgets rest in part on an analysis of the needs and desires of the people and on the availability of revenues to meet these needs. The cost of needs has to be equated to probable revenues and this is a field where research is most needed. Through research we can devise alternative policies and can as well examine the consequences of each of these alternatives. Decision-making may not be a part of research, but research certainly facilitates the decisions of the policy maker. Government has also to chalk out programmes for dealing with all facets of the country’s existence and most of these will be related directly or indirectly to economic conditions. The plight of cultivators, the problems of big and small business and industry, working conditions, trade union activities, the problems of distribution, even the size and nature of defence services are matters requiring research. Thus, research is considered necessary with regard to the allocation of nation’s resources. Another area in government, where research is necessary, is collecting information on the economic and social structure of the nation. Such information indicates what is happening in the economy and what changes are taking place. Collecting such statistical information is by no means a routine task, but it involves a variety of research problems. These day nearly all governments maintain large staff of research technicians or experts to carry on this work. Thus, in the context of government, research as a tool to economic policy has three distinct phases of operation, viz., (i) investigation of economic structure through continual compilation of facts; (ii) diagnosis of events that are taking place and the analysis of the forces underlying them; and (iii) the prognosis, i.e., the prediction of future developments. Research has its special significance in solving various operational and planning problems of business and industry. Operations research and market research, along with motivational research, are considered crucial and their results assist, in

more than one way, in taking business decisions. Market research is the investigation of the structure and development of a market for the purpose of formulating efficient policies for purchasing, production and sales. Operations research refers to the application of mathematical, logical and analytical techniques to the solution of business problems of cost minimization or of profit maximization or what can be termed as optimization problems. Motivational research of determining why people behave as they do is mainly concerned with market characteristics. In other words, it is concerned with the determination of motivations underlying the consumer (market) behaviour. All these are of great help to people in business and industry who are responsible for taking business decisions. Research with regard to demand and market factors has great utility in business. Given knowledge of future demand, it is generally not difficult for a firm, or for an industry to adjust its supply schedule within the limits of its projected capacity. Market analysis has become an integral tool of business policy these days. Business budgeting, which ultimately results in a projected profit and loss account, is based mainly on sales estimates which in turn depends on business research. Once sales forecasting is done, efficient production and investment programmes can be set up around which are grouped the purchasing and financing plans. Research, thus, replaces intuitive business decisions by more logical and scientific decisions. Research is equally important for social scientists in studying social relationships and in seeking answers to various social problems. It provides the intellectual satisfaction of knowing a few things just for the sake of knowledge and also has practical utility for the social scientist to know for the sake of being able to do something better or in a more efficient manner. Research in social sciences is concerned both with knowledge for its own sake and with knowledge for what it can contribute to practical concerns. “This double

emphasis is perhaps especially appropriate in the case of social science. On the one hand, its responsibility as a science is to develop a body of principles that make possible the understanding and prediction of the whole range of human interactions. On The other hand, because of its social orientation, it is increasingly being looked to for practical guidance in solving immediate problems of human relations.” In addition to what has been stated above, the significance of research can also be understood keeping in view the following points:



To those students who are to write a master’s or Ph.D. thesis, research may mean a careerism or a way to attain a high position in the social structure;



To professionals in research methodology, research may mean a source of livelihood;



To philosophers and thinkers, research may mean the outlet for new ideas and insights;



To literary men and women, research may mean the development of new styles and creative work;



To analysts and intellectuals, research may mean the generalizations of new theories.

This , research is the fountain of knowledge for the sake of knowledge and an important source of providing guidelines for solving different business, governmental and social problems. It is a sort of formal training which enables one to understand the new developments in one’s field in a better way.

RESEARCH DESIGN This project is based on exploratory study as well as descriptive study. It was an exploratory study when the customer satisfaction level was studied to suggest new methods to improve the services of DHFL in providing home loans and it was descriptive study when detailed study was made for comparison of disbursement of home loans by commercial banks.

RESEARCH PROBLEM: DHFL Main Branch, Kanpur want to know about the customer perception about the product provide by them to the people.  To find out what kind of service provide by the competitors in product.  To find out the need of the customer and hence formulate the strategy to level the economy in the society.  How the products are helping the customer.  To know the utility of the product.  To find out the need of the customer in Kanpur region and introduce new product or facilitate new service in existing product.

HYPOTHESIS:Ho: There is positive impact of survey on customer satisfaction. H1: There is no significant impact of survey on customer satisfaction. POPULATION SIZE:-

The whole market of Gumti and P.Road are the population size.

SAMPLE SIZE:-

Sample of 50 people was taken into study, and their data was collected.

SAMPLING METHOD:To study the Project, a Simple Random Sampling technique is used.

MODE OF DATA COLLECTION:Data collection is mainly dealt with the way data is collected. We have Collected data mainly through two ways-1.primary data collection 2.secondry data collection. Primary data collection – we collected primary data by visiting individual Houses and meeting with individual persons. We also visited some apartments. Here, we meet with societies Managers and try to convince them to arrange a meeting with society persons. We gave information to them and filled survey sheet by them. Secondary data collection – it is collected through secondary sources like data of sells of the flat from some of my friends and senior’s company, Data from LDA etc. After that we make call to them and make survey. And visited them if required.

RESEARCH TOOLS:Out of the total respondents, the respondents who responded logically were taken into account while going into statistical details & analysis of data. The tools that have been used for analyzing data & inference drawing are mainly statistical tools like percentage, ranking, averages, etc. As per questionnaire and market surveys I have find out different responses from different people. According to their responses I analyze the findings and draw certain remarks.

METHOD OF ORGANIZATION OF DATA:Organizing your data-

Once you create, gather, or start manipulating data and files, they can quickly become disorganized. To save time and prevent errors later on, you and your colleagues should decide how you will name and structure files and folders. Including documentation (or 'metadata') will allow you to add context to your data so that you and others can understand it in the short, medium, and long-term.

Below you can find some guidance on:



Naming and Organizing Files



Documentation and Metadata



Managing References



Organizing E-mail

1-Naming and Organizing files:-

Choosing a logical and consistent way to name and organize your files allows you and others to easily locate and use them. Ideally, the best time to think how to name and structure the documents and directories you create is at the start of a project.

Agreeing on a naming convention will help to provide consistency, which will make it easier to find and correctly identify your files, prevent version control problems when working on files collaboratively. Organizing your files carefully will save you time and frustration by helping you and your colleagues find what you need when you need it.

How should I organize my files?

Whether you are working on a stand- alone computer, or on a networked drive, the need to establish a system that allows you to access your files, avoid duplication, and ensure that your data can be backed up, takes a little planning. A good place to start is to develop a logical folder structure. The following tips should help you develop such a system: 

Use folders - group files within folders so information on a particular topic is located in one place



Adhere to existing procedures - check for established approaches in your team or department which you can adopt



Name folders appropriately - name folders after the areas of work to which they relate and not after individual researchers or students. This avoids confusion in shared workspaces if a member of staff leaves, and makes the file system easier to navigate for new people joining the workspace



Be consistent – when developing a naming scheme for your folders it is important that once you have decided on a method, you stick to it. If you can, try to agree on a naming scheme from the outset of your research project



Structure folders hierarchically - start with a limited number of folders for the broader topics, and then create more specific folders within these



Separate ongoing and completed work - as you start to create lots of folders and files, it is a good idea to start thinking about separating your older documents from those you are currently working on



Try to keep your ‘My Documents’ folder for files you are actively working on, and every month or so, move the files you are no longer working on to a different folder or location, such as a folder on your desktop, a special archive folder or an external hard drive



Backup – ensure that your files, whether they are on your local drive, or on a network drive, are backed up



Review records - assess materials regularly or at the end of a project to ensure files are not kept needlessly. Put a reminder in your calendar so you do not forget!

What do I need to consider when creating a file name?

Decide on a file naming convention at the start of your project.

Useful file names are: 

consistent



meaningful to you and your colleagues



allow you to find the file easily.

It is useful if your department/project agrees on the following elements of a file name:



Vocabulary – choose a standard vocabulary for file names, so that everyone uses a common language



Punctuation – decide on conventions for if and when to use punctuation symbols, capitals, hyphens and spaces



Dates – agree on a logical use of dates so that they display chronologically i.e. YYYYMM-DD



Order - confirm which element should go first, so that files on the same theme are listed together and can therefore be found easily



Numbers – specify the amount of digits that will be used in numbering so that files are listed numerically e.g. 01, 002, etc.

How should I name my files, so that I know which document is the most recent version?

Very few documents are drafted by one person in one sitting. More often there will be several people involved in the process and it will occur over an extended period of time. Without proper controls this can quickly lead to confusion as to which version is the most recent. Here is a suggestion of one way to avoid this:



Use a 'revision' numbering system. Any major changes to a file can be indicated by whole numbers, for example, v01 would be the first version, v02 the second version. Minor changes can be indicated by increasing the decimal figure for example, v01_01 indicates a minor change has been made to the first version, and v03_01 a minor change has been made to the third version.



When draft documents are sent out for amendments, upon return they should carry additional information to identify the individual who has made the amendments. Example: a file with the name datav01_20130816_SJ indicates that a colleague (SJ) has made amendments to the first version on the 16th August 2013. The lead author would then add those amendments to version v01 and rename the file following the revision numbering system.



Include a 'version control table' for each important document, noting changes and their dates alongside the appropriate version number of the document. If helpful, you can include the file names themselves along with (or instead of) the version number.



Agree who will finish finals and mark them as 'final.'

2-Documentation and Metadata:-

To ensure that you understand your own data and that others may find, use and properly cite your data, it helps to add documentation and metadata (data about data) to the documents and datasets you create.

What are 'documentation' and 'metadata'?

The term 'documentation' encompasses all the information necessary to interpret, understand and use a given dataset or set of documents. On this website, we use 'documentation' and 'metadata' (data about data - usually embedded in the data files/documents themselves) interchangeably.

When and how do I include documentation/metadata?

It is a good practice to begin to document your data at the very beginning of your research project and continue to add information as the project progresses. Include procedures for documentation in your data planning.

There are a number of ways you can add documentation to your data:

1-Embedded documentation:-

Information about a file or dataset can be included within the data or document itself. For digital datasets, this means that the documentation can sit in separate files (for example text files) or be integrated into the data file(s), as a header or at specified locations in the file. Examples of embedded documentation include:



code, field and label descriptions



descriptive headers or summaries



recording information in the Document Properties function of a file (Microsoft)

2-Supporting documentation:-

This is information in separate files that accompanies data in order to provide context, explanation, or instructions on confidentiality and data use or reuse. Examples of supporting documentation include: 

Working papers or laboratory books



Questionnaires or interview guides



Final project reports and publications



Catalogue metadata

Supporting documentation should be structured, so that it can be used to identify and locate the data via a web browser or web based catalogue. Catalogue metadata is usually structured according to an international standard and associated with the data by repositories or data centres when materials are deposited. Examples of catalogue data are:



Title



Description



Creator



Funder



Keywords



Affiliation

Tools for metadata tracking and data standards:-

ISA Tools - metadata tracking tools for life sciences

The open source ISA metadata tracking tools help to manage an increasingly diverse set of life science, environmental and biomedical experiments that employing one or a combination of technologies. Built around the ‘Investigation’ (the project context), ‘Study’ (a unit of research) and ‘Assay’ (analytical measurement) general-purpose Tabular format, the ISA tools helps you to provide rich description of the experimental metadata (i.e. sample characteristics, technology and measurement types, sample-to-data relationships) so that the resulting data and discoveries are reproducible and reusable.

Bio Sharing - searchable portal of inter-related data standards, databases, and policies for life sciences

Bio Sharing is a curated, searchable portal of inter-related data standards, databases, and policies in the life, environmental, and biomedical sciences. Managing References

Projects can last for months or years, and it is easy to lose track of which piece of information came from which source. It can be a challenge to have to reconstruct half of your citations in the scramble at the end of the project! Your future self may not remember everything that seems obvious in the present, so it is important to take clear notes about your sources.

What is 'reference management software'?

Reference management software helps you keep track of your citations as you work, and partially automates the process of constructing bibliographies when it is time to publish. The University of Cambridge also offers support and training on several referencing systems.

Who can help me with reference conventions and formats for my academic discipline or particular project?

Your departmental librarian will be able to help you pick the right format for references and will probably know about some useful search and management tools that you have not used before. Feel

free

to

ask

him/her

for

advice.

Additionally, your college librarian is also a very good resource and is there to help. Find your departmental and college librarian on the University's Libraries Directory.

3-Organizing e-mail:Most people now routinely send and receive lots of messages every day and as a result, their inbox can get very quickly overloaded with hundreds of personal and work-related email. Setting aside some time to organize your emails will ensure information can be found quickly and easily, and is stored securely.

Why should I organize my email?

Apart from the obvious frustration and time wasted looking for that email you remember sending to someone last month, email is increasingly used to store important documents and data, often with information related to the attachments within the email itself. Without the proper controls in place they can often be deleted by mistake. It is also important to remember that your work email comes under The Data Protection Act 1998 and the Freedom of Information Act 2000, so your emails are potentially open to scrutiny.

What are the first steps to organizing my email?

If your emails have got out of control there are a number of immediate steps you can take to control the problem:



Archive your old emails. If you have hundreds of emails hanging around from more than a month ago, move them into a new folder called something like "Archive". You can always come back to these at a later date.



Now go through your remaining inbox email by email. If an email is useless, delete it. If not, ask yourself: is it "active" - is there a specific action you, or someone else, need to take, or do you just vaguely think it is worth keeping? If the latter, move it to the archive.

How can I ensure my emails remain organized?

Here are some general tips to ensure your email remains organized in the long term: 

Delete emails you do not need. Remove any trivial or old messages from your inbox and sent items on a regular (ideally daily) basis.



Use folders to store messages. Establish a structured file directory by subject, activity or project.



Separate personal emails. Set up a separate folder for these. Ideally, you should not receive any personal emails to your work email account.



Limit the use of attachments. Use alternative and more secure methods to exchange data where possible (see ‘data sharing’ for options). If attachments are used, exercise version control and save important attachments to other places, such as a network drive.

METHOD OF PRESENTATION OF DATA:The method of presenting data are Pi charts.

ANALYSIS & INTERPRETATION

CHAPTER-6 DATA ANALYSIS & INTERPRETATION

Q1. When you have taken Home Loan from DHFL?

One year before

Options

Responses(Percentage) 50

Two to three year before 30

More than three year before 20

Total 100

20% One year before

50%

Two to three year bofore More than three year before

30%

INTERPRETATION:-

It can be interpreted that 50% of people are taken home loan before one year, 30% are taken home loan before two to three years while 20% taken home loan before more than three years.

Q2. Reason for taking Home Loan from DHFL?

Options Responses(Percentage)

Faster processing

Interest rates

20

40

6% 14%

Brand image of DHFL 20

Margin amount

others

14

6

Total 100

20% Faster processing Interest rates Brand image of DHFL Margin amount

20%

others

40%

INTERPRETATION:-

It can be interpreted that the 40% persons take DHFL home loans for low interest rates, 20% persons take loans for faster processing, 20% persons take loans for brand image of DHFL, 14% persons take loan for margin amount while 6% persons take loans for other reasons.

Q3. How do you rate the Interest rates charged by DHFL? Highly satisfactory

Satisfacto ry

Options Responses(Per 10 centage)

80

6%

Averagel y satisfacto ry 6

Dissatisfact ory

Highly dissatisfa ctory

Total

4

0

100

4%0% 10% Highly satisfactory

Satisfactory Averagely satisfactory Dissatisfactory Highly dissatisfactory

80%

INTERPRETATION:-

It can be interpreted that 10% of people are highly satisfied by the interest rates of DHFL, 80% are satisfied by interest rate, 6% are averagely satisfied by interest rates, 4% are dissatisfied while nobody are highly dissatisfied.

Q4. How do you rate the EMI of DHFL?

Highly satisfactory

Satisfacto ry

Options Responses(Per 60 centage)

20

Averagel y satisfacto ry 10

Dissatisfact ory

Highly dissatisfa ctory

Total

10

0

100

10% 0% 10%

Highly satisfactory Satisfactory Averagely satisfactory

20%

60%

Dissatisfactory Highly dissatisfactory

INTERPRETATION:-

It can be interpreted that 60% of people are highly satisfied with the EMI of DHFL, 20% are satisfied with EMI, 10% are averagely satisfied with EMI, 10% are dissatisfied while nobody are highly dissatisfied.

Q5. How do you rate the Documentation Procedure of DHFL? Highly satisfactory

Satisfacto ry

Options Responses(Per 40 centage)

30

10%

Averagel y satisfacto ry 16

Dissatisfact ory

Highly dissatisfa ctory

Total

10

4

100

4% Highly satisfactory

40%

16%

Satisfactory Averagely satisfactory Dissatisfactory

Highly dissatisfactory

30%

INTERPRETATION:-

It can be interpreted that 40% of people are highly satisfied with the Documentation procedure of DHFL, 30% are satisfied with Documentation procedure, 16% are averagely satisfied with Documentation procedure, 10% are dissatisfied while 4% are highly dissatisfied.

Q6. How do you rate the Processing Fees of DHFL?

Highly satisfactory

Satisfacto ry

Options Responses(Per 30 centage)

40

12%

Averagel y satisfacto ry 16

Dissatisfact ory

Highly dissatisfa ctory

Total

12

2

100

2% 30%

Highly satisfactory Satisfactory

16%

Averagely satisfactory Dissatisfactory

Highly dissatisfactory

40%

INTERPRETATION:-

It can be interpreted that 30% of people are highly satisfied with the Processing fees of DHFL, 40% are satisfied with Processing fees, 16% are averagely satisfied with Processing fees, 12% are dissatisfied while 2% are highly dissatisfied.

Q7. How do you rate the Sanctioning Procedure of DHFL? Highly satisfactory

Satisfacto ry

Options Responses(Per 50 centage)

40

Averagel y satisfacto ry 8

Dissatisfact ory

Highly dissatisfa ctory

Total

0

2

100

2% 8% 0% Highly satisfactory Satisfactory

50%

40%

Averagely satisfactory Dissatisfactory Highly dissatisfactory

INTERPRETATION:-

It can be interpreted that 50% of people are highly satisfied with the Sanctioning Procedure of DHFL, 40% are satisfied with the Sanctioning Procedure, 8% are averagely satisfied with the Sanctioning Procedure, nobody are dissatisfied while 2% are highly dissatisfied.

Q8. How do you rate the Sanctioning Time of DHFL? Highly satisfactory

Satisfacto ry

Options Responses(Per 60 centage)

30

Averagel y satisfacto ry 8

Dissatisfact ory

Highly dissatisfa ctory

Total

2

0

100

2% 8%

0% Highly satisfactory Satisfactory Averagely satisfactory

30% 60%

Dissatisfactory Highly dissatisfactory

INTERPRETATION:-

It can be interpreted that 60% of people are highly satisfied with the Sanctioning time of DHFL, 30% are satisfied with the Sanctioning time, 8% are averagely satisfied with the Sanctioning time, 2% are dissatisfied while nobody are highly dissatisfied.

Q9. How do you rate the Fore Closure Charges of DHFL?

Highly satisfactory

Satisfacto ry

Options Responses(Per 20 centage)

50

Averagel y satisfacto ry 24

Dissatisfact ory

Highly dissatisfa ctory

Total

6

0

100

6%0% 20% Highly satisfactory

24%

Satisfactory Averagely satisfactory Dissatisfactory Highly dissatisfactory

50%

INTERPRETATION:-

It can be interpreted that 20% of people are highly satisfied with the Fore Closure Charges of DHFL, 50% are satisfied with the Fore Closure Charges, 24% are averagely satisfied with the Fore Closure Charges,6 % are dissatisfied while nobody are highly dissatisfied.

Q10. Are you satisfied with DHFL Home Loans?

Options Responses(Per 80 centage)

Yes

No 20

Total 100

20%

Yes N0

80%

INTERPRETATION:-

It can be interpreted that 80% of people are satisfied with DHFL home loans while 20% are dissatisfied with DHFL home loans.

CHAPTER-7 FINDINGS

From this project it is found that DHFL Home Loans having the 1st place in the market at KANPUR, but HDFC and ICICI also working hard for improving their market share in home loan segment so they are the main threat or competitor. 1.

It has been observed that a person first of all come to the DHFL for sanctioning their loan but bad response from DHFL force them to switch to the other bank.

2. All of DHFL customers are satisfied with the services provided by the bank. 3. Many of these customers are well aware of DHFL and their home loan product and satisfied with the low interest rate and longer repayment period of the advance product. 4. Most of the customers at Kanpur feels that DHFL really trying hard for improving their services. 5. Approximately 43% of product users said that the service of DHFL in product is excellent. 6. A response from customer care is so clear & good. 7. Many customers have no time to call customer care so that they are not able to know about the service & features of DHFL product. 8. Most customers are shifted from other bank’s product to DHFL because of hidden charges, high interest rate, less repayment period. 9. Government employees are more concern than private employees for product.

CHAPTER-8 RECOMMENDATIONS 1. Customer awareness program is required so that more people should attract towards product. 2. If there are any kind of hidden charges than that must disclose to customer before giving loan to them. 3. DHFL must take some steps so that customers can get their loan in time. Like phone verification by customer care that one customer is got their loan on time or not .It must be before a certain date so necessary steps can be taken. 4. DHFL should more concern about physical verification rather than phone verification so it will avoid fraud or cheating. 5. Product selling agents must not give any type of wrong information regarding product. 6. For the better service new offers would be require. 7. DHFL customer care should more concern about the fastest settlement of customer problems. 8. Before deducting or charging any monetary charge DHFL must consult with customer. 9. Agents should be trained, well educated & proper trained to convince the people about different product. 10. It is the duty of the bank to disclose all the material facts regarding product, like interest charged, repayment period, other types of charges, etc. 11. Special scheme should be implemented to encourage both customer and agents. 12. The bank should increase the period for repayment of loan. 13. DHFL should more focus on Retaining existing customers.

14. DHFL must focus on Segmentation based on customer knowledge Product offering based on customer demand. 15. DHFL must take feedbacks of customers regarding features & services.

CHAPTER-9 CONCLUSION It can be conclude that customers have a good respond towards DHFL products in Kanpur. DHFL is in 1st position having large number of customers & providing good services to them. DHFL has a wide customer base, so they should concentrate on this to retain these customers. In present scenario DHFL is the largest product issuer in India. Within a very short period of time the achievement made by DHFL is excellent, what a normal bank cannot expect, but it is being done by DHFL. It happens due to employee dedication towards the organization, fastest growing Indian economy, & brand image. To be the largest product issuer, DHFL should focus on

Launch Innovative product



Customized advance products.



Better customer services.



Fastest customers problem solving techniques.



Customer retention

Apart from all the above, DHFL believe in providing good customer services to their customers which is a key factor for success in future.

ANNEXURE

CHAPTER-10 QUESTIONNAIRE Q1. When you have taken Home Loan from DHFL? a. One Year Before b. Two to Three Years Before c. More than Three Years Before

Q2. Reason for taking Home Loan from DHFL? a. Faster Processing b. Interest Rates c. Brand image of the Bank d. Margin Amount e. Others

Q3. How do you rate the Interest rates charged by DHFL? a. Highly Satisfactory b. Satisfactory c. Averagely Satisfactory d. Dissatisfactory e. Highly Dissatisfactory

Q4. How do you rate the EMI of DHFL? a. Highly Satisfactory b. Satisfactory

c. Averagely Satisfactory d. Dissatisfactory e. Highly Dissatisfactory

Q5. How do you rate the Documentation Procedure of DHFL? a. Highly Satisfactory b. Satisfactory c. Averagely Satisfactory d. Dissatisfactory e. Highly Dissatisfactory

Q6. How do you rate the Processing Fees of DHFL? a. Highly Satisfactory b. Satisfactory c. Averagely Satisfactory d. Dissatisfactory e. Highly Dissatisfactory

Q7. How do you rate the Sanctioning Procedure of DHFL? a. Highly Satisfactory b. Satisfactory c. Averagely Satisfactory d. Dissatisfactory e. Highly Dissatisfactory

Q8. How do you rate the Sanctioning Time of DHFL? a. Highly Satisfactory b. Satisfactory c. Averagely Satisfactory d. Dissatisfactory e. Highly Dissatisfactory

Q9. How do you rate the Fore Closure Charges of DHFL? a. Highly Satisfactory b. Satisfactory c. Averagely Satisfactory d. Dissatisfactory e. Highly Dissatisfactory

Q10. Are you satisfied with DHFL Home Loans? a. Yes b. No

BIBLIOGRAPHY REVIEWS: Berstain David(2008), “Home equity loans and private mortgage insurance: Recent Trends & Potential Implications”, Vol.3 No.2, August 2008, Pp. 41 - 53  Dr. Rangarajan C. (2001), “A Simple Error Correction Model of House Price” Journal of Housing Economics Vol. 4, No. 3,pp 27 – 34  Fanning (1982), “The Demand for Home Mortgage Debt” Journal of Urban Economics, Vol 11 No 2, November, pp. 770-774  Godse (1983), “looking a fresh at banking productivity”, Journal of Real Estate Literature, Vol. No. 13, Page 141 to 164  Haavio, Kauppi(2000) , “Residential Lending to Low-Income and Minority Families: Evidence from the 1992 HMDA Data," Federal Reserve Bulletin Vol no 80(2), December 2000 Pp-79-108  Kulkarni (1979), “Development responsibility and profitability of banks” Journal of Economic Perspectives, Vol 9 No 1 pp. 26-32.  La courr, Micheal(2007) , “Economic Factors Affecting Home Mortgage Disclosure Act Reporting” The American Real Estate and Urban Economics Association, Vol.2 No. 2 May 18, 2007, Pp. 45 -58  La cour Micheal(2006) , “The Home Purchase Mortgage Preferences Of Low and Moderate Income Households”, Forthcoming in Real Estate Economics , Vol 18, No 4 , December 20, 2006, p. 585.  Vandell,,kerry D(2008), “Subprime lending and housing bubble:tail wag dog?” International Journal of Bank Marketing, vol. 21,no 2, pp. 53-7

WEB PAGES:

https://www.slideshare.net/



http://www.projects4mba.com/



https://www.dhfl.com/



https://economictimes.indiatimes.com/



https://www.creditmantri.com/dhfl-home-loan/



https://www.myloancare.in/home-loan-interest-rates/dhfl

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https://www.bankbazaar.com/

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https://www.creditnation.in/banking-partners/dhfl-home-loan

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https://en.wikipedia.org/wiki/Dewan_Housing_Finance_Corporation

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https://ndtvprofit.com/

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http://docshare.tips/

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https://www.zaubacorp.com/