LIC Housing Finance
LIC Housing Finance Limited was incorporated under the Companies Act 1956 on 19th of June, 1989. However this became public and open to the common man in 1994 after being promoted at a great level by the LIC of India. The maiden GDR issue was launched by the company in 2004. National Housing Bank has recognized this company and has thus listed it under the Bombay Stock Exchange Limited (BSE) as well as National Stock Exchange (NSE). Demat format is basically used for the trading up of shares f this organization. The paid up capital of the company is around Rs.85 crores and the authorized capital amounts up to Rs.150 crores. However the GDR listing is being kept under Luxembourg Stock Exchange.
LIC Housing is a means to provide individuals long term financial aids for construction, purchase, renovate or repair new or rather old existing flats and houses etc. Not only this, LIC Housing also renders financial resources on the properties that are being used for the business purposes like Nursing Homes, Office Space, Diagnostic Centers, Construction of clinics etc.
LIC Housing is regarded as one of the most extensive market network in India. The main corporate office is being located in Mumbai as well as it has seven other regional offices, thirteen back offices and 190 marketing units all over India. Back office is the centralized area to carry on the administrative functions and is responsible for the credit appraisal too. Further in order to extend the marketing structure, the company has 1241 Direct Sales Agents (DSAs), 782 Customer Relationship Associates (CRAs) and 6535 Home Loan Agents (HLAs) appointed as paid employees.
All the non-resident Indians residing in GLCC countries like Dubai, Kuwait, Bahrain, Saudi Arabia & Qatar can also receive the benefits of LIC Housing via the representative office that is being set up in Kuwait and Dubai.