Housing Finance Company Overview
Definition: A housing finance company is a non-bank financial institution whose main business is to finance the purchase or construction of housing, including land for the construction of new housing.
The housing finance corporation is majority-owned by the National Housing Bank. Any NBFC can operate as a housing finance company as long as it complies with the basic requirements set out in the Companies Act, 1956.
- The principal business of the company shall be housing financing, directly or indirectly.
- Companies must obtain a Certificate of Registration (CoR) from the National Housing Bank (NHB). Under the National Housing Bank Act 1987, companies carrying on such business without a COR are penalized and the NHB can seek to liquidate such companies.
- The company must have net own funds of not less than Rs 10 crore.
After fulfilling these basic requirements, the company must also fulfill the following conditions to register as a home finance company:
- The company must be able to meet the full requirements of its current and future depositors as and when requirements arise.
- The company's business activities should not harm public interest and interest of depositors.
- The affairs of housing finance companies should not prejudice the interests of current and future fund savers.
- The registration certificate shall not harm the operation and development of the national housing finance industry.
- The company must have sufficient capital structure and good earning potential.
And therefore, the NBFC must fulfill all the above conditions to finance housing business (construction and purchase).
List of housing finance companies that have obtained a certificate of registration (COR) but are not eligible to accept deposits from the public.
Aavas Financiers Limited
Adani Housing Finance Private Limited
Aditya Birla Housing Finance Limited
AGRIM Housing Finance Private Limited
Aham Housing Finance Private Limited
Altum Credo Home Finance Private Limited
Anand Housing Finance Private Limited
APAC Housing Finance Private Limited
Aptus Value Housing Finance India Limited
ART Housing Finance (India) Limited
Aryarth Housing Finance Limited
Aviom India Housing Finance Private Limited
Baid Housing Finance Private Limited
Bajaj Housing Finance Limited
Capital India Home Loans Limited
Capri Global Housing Finance Limited
Centrum Housing Finance Limited
Clix Housing Finance Limited
DMI Housing Finance Private Limited
Easy Home Finance Limited
Edelweiss Housing Finance Limited
Essel Finance Home Loans Limited
Family Home Finance Private Limited
Fasttrack Housing Finance Limited
Fullerton India Home Finance Company Limited Godrej Housing Finance Limited
GRD India financial services Private Limited
Habitat Micro Build India Housing Finance Company Private Limited
Hero Housing Finance Limited
Hinduja Housing Finance Limited
Home First Finance Company India Limited
Homeshree Housing Finance Limited
IFL Housing Finance Limited
IIFL Home Finance Limited
IKF Home Finance Limited
India Home Loan Limited
India Shelter Finance Corporation Limited
Indiabulls Housing Finance Limited
IndoStar Home Finance Private Limited
JM Financial Home Loans Limited
Jothi Housing and Mortgage Finance Private Limited
Khush Housing Finance Private Limited
KIFS Housing Finance Private Limited
Mahindra Rural Housing Finance Ltd
Mamta Housing Finance Company Private Limited
Manappuram Home Finance Limited
Milestone Home Finance Company Private Limited
Manibhavnam Home Finance India Private Limited
MAS Rural Housing and Mortgage Finance Limited
Mentor Home Loans India Limited
Motilal Oswal Home Finance Limited
Muthoot Homefin (India) Limited
Muthoot Housing Finance Company Limited
Nanayasurabhi Affordable Housing Finance Limited
Navarathna Housing Finance Limited
New Habitat Housing Finance and Development Limited
Nivara Home Finance Limited
North East Region Housing Finance Company Limited
Orange City Housing Finance Limited
Panthoibi Housing Finance Company Limited
Piramal Housing Finance Limited
“Poonawalla Housing Finance Limited
Prosper Housing Finance Limited
Reliance Home Finance Limited
Religare Housing Development Finance Corporation Limited
Roha Housing Finance Private Limited
Swarna Pragati Housing Microfinance Private Limited
Tata Capital Housing Finance Limited(TCHFL)
Ummeed Housing Finance Private Limited