National Housing Bank
|Post- liberalization, real estate and housing sectors have witnessed phenomenal growth along with all the other spheres of the economy and became front runners in conception of fiscal and tangible assets both for individuals as well as for the country. A regulated, regular yet independent supervision of housing and real estate prices became an acute need voiced by many interest groups. To address the demands for tracking of price movements of residential real estate, the Ministry of Finance instructed the National Housing Bank to embark on a scheme to gauge the feasibility of setting up of such a regulator index on national level. Initially the survey was done in 5 cities, namely Kolkata, Bhopal, Mumbai, Bangalore and Delhi, and later spread out to encompass ten more cities namely Chennai, Jaipur, Surat, Hyderabad, Faridabad, Kochi, Patna, Pune, Lucknow and Ahmedabad.
Apart from this, a Technical Advisory Group (TAG) along with the Advisor of Ministry of Finance at the helm, constituted by expert members from NSSO, CSO, RBI, NHB and Labour Bureau, was appointed to manage and legislate on all matters pertaining to data collection, methodology and the procedure of expression of an apt index. Based on the ensuing results of the survey and the testimonials of the TAG, RESIDEX was established by NHB to keep count of residential property costs and values in India in July 2007.
NHB, as an organization, was formed under the National Housing Bank Act, 1987, to boost and stabilize comprehensive expansion in the real estate and housing business. The Reserve Bank of India possesses the full ownership of the NHB, headquartered at Delhi. NHB functions as the chief agency to encourage housing finance institutions at grass root and territorial strata and render fiscal, technical and legal support to them. The institution aspires to control and advance to potentials of the market in order to cater to the residential needs of all sections of citizens. It has branches and offices all over the country.
In order to ensure that the archetype prices for dealings for the survey excogitate the projected market movements and patterns, the inputs for the same were gathered from real estate agents and property dealers and verified by hiring private consultancies which were experts in this arena. The pricing structures were thoroughly researched for several property tax zones and administrative zones of every city to ascertain accurate predictions. 2001 was the year reckoned as the cornerstone of the survey and compared with the CPI (Consumer Price Index) and WPI (Wholesale Price Index). The price was modified on an annual fundament by analysis and projections in the survey and made au courant until 2007.
In the first phase itself, the NHB Residex was splayed over in more than 35 cities having more than million inhabitants. With changes in the market scenario, up gradation of the NHB Residex was done to 2009 and the index now treats the year 2007’s data as its base. It is projected that index would now be brought au fait half yearly and the NHB Residex would widen its services to over 63 cities. To get any queries or complaints answered, the user can post them online on the official website www.nhb.org.in along with their contact number and e-mail id for the answer of query and future correspondence.
The monetary value of housing units exhibited a haphazard trend in the 15 cities studied by the NHB Residex for the quarter January-March 2011. Terms in three cities showed indications of heightening over the previous quarter (October-December 2010), while prices in seven cities experienced a chastening of sorts. Prices in five cities maintained over the period. All the new additions to any guidelines or regulations are published in the annual report or in the circulars issued by the NHB from time to time.
NHB Residex Roles and Products
NHB Residex has three primary roles Promotion, Regulation and Financing which also includes refinancing. The Products offered by NHB Residex include- RML, RMBS, Term Deposits, Sunidhi/Suvridhi), ISHUP, PHIRA, GJRHF.
NHB promises bright careers to professionals as it is going for recruitment of advisors at its regional/representative offices and on scale of managers and deputy managers.
The Bank looks to push for excellence in its functionings through research, analysis and enquiry by embracing modern-day work practices and technology. NHB offers a modern, sociable and professional work environment.
The Bank regularly recruits new employees for posts like Advisor (Residex), Manager (Premises), Manager (HR) and Chartered Accountants at Manager and Assistant General Manager designations in its team to undertake the aforesaid projects with worthy professionals on regular and contract employment. Handsome remuneration and several other benefits like Conveyance/Vehicle Allowance and telephone reimbursement are also offered to its employees. Interested suitable candidates can apply for the post in the attached format and send it to the following address:
National Housing Bank,
Core 5A, 4th Floor, India Habitat Centre,
Lodhi Road, New Delhi – 110003
NHB CAPITAL GAINS BONDS - 2002
NHB's Capital Gains Bonds Issue 2002 were subscribed to deluge in August 2002 by institutions, individuals and banks to the amount Rs.2,600.00 crore. Bearing in hindsight the course charted by the general interest rates of the economy and the characteristics of corresponding instruments of its contemporaries, NHB reviewed the prevailing structure of its Bonds. NHB also introduced extra features for the welfare of the intending investor-public. Bond holders of NHB Capital Gain Bonds -2002 who hadn’t redeemed their bonds can contact Registrar to the issue or Resource Mobilization & Management Department, National Housing Bank based on the details given below:
|Registrar to the issue||Resource Mobilization & Management Department|
|M/s Karvy Computer Share Pvt. Ltd|
(Unit: National Housing Bank)
Plot No. 17-24, Vittal Rao Nagar
Tel. No: 040-44655175/121
|Mr. K. Chakravarthy, AGM|
National Housing Bank
Core 5A, 3rd Floor,
India Habitat Centre
Lodhi Road, New Delhi-110003
Tel. no: 011-24649031-35
Head Office Address:
National Housing Bank
Core 5A, 3rd Floor
India Habitat Centre, Lodhi Road,
New Delhi- 110003
Phone Number: 011-24649031-35.
Last Updated On: 2012/02/29