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HDFC held approx. 48.7% of shares in HDFC Life [24] and was the sole promoter of the company, as of May 2023. [25] In September 2013, it was ranked third in terms of market share of private life insurance companies in India. [15] On the same date, it had a network of approx. 72,000 financial consultants to sell its policies. [15]
The original goal of NYC HDFCs in the early 1980s was to salvage neglected housing stock [3] while lifting people out of poverty and low income status by giving them home ownership. Most HDFC coops originated in crime-ridden neighborhoods as discarded buildings that the city did not want to maintain, thus, the buildings were sold to tenants.
On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [23] [24] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
[4] In May 2021, Housing Development Finance Corporation (HDFC), entered into a share purchase agreement for the sale of 44,12,000 equity shares of Rs. 10 each, representing 0.62% of the issued and paid-up share capital of HDFC ERGO, in accordance with the direction of Reserve Bank of India to reduce its shareholding in the latter to 50% or ...
The company is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of India's leading housing finance institutions and Abrdn, a global investment company. [5] As of 31 March 2020, the promoters; HDFC Ltd. and Standard Life (Mauritius Holdings) 2006 Ltd. hold a 51.69% and 34.75% stake in HDFC Life respectively. [5]
[22] [23] As of March 2024, 86% of its gross loan assets are from home loans, and 13% from the loan against property vertical. [2] The company operates in 13 states and union territories through 133 branches and 321 touchpoints. [3] As of March 2024, 58.5% of its loan assets are from the states of Gujarat, Maharashtra and Tamil Nadu. [3] [24] [5]
The MCC program is designed to help first-time homebuyers offset a portion of their mortgage interest on a new mortgage as a way to help homebuyers qualify for a loan. Because it is a tax credit and not a tax deduction , mortgage lenders will often use the estimated amount of the credit on a monthly basis as additional income to help the ...
HDFC may refer to: Housing Development Finance Corporation, an Indian mortgage company; HDFC Bank, an Indian financial services company; HDFC Life, a joint venture of Housing Development Finance Corporation and Standard Life plc; HDFC Bank of Sri Lanka, a Sri Lankan specialised housing bank