House is a basic necessity. Everyone, rich or poor, whether in rural areas or urban areas, needs a house to protect his life and property and also to promote his well-being. Houses do a great deal more than housing the people. They channel human relationship and are an integral part of the society. A house is not an isolated structure but forms part of the neighborhood and the total community. The popular definition of housing finance is as: “Housing finance brings together complex and multi-sector issues that are driven by constantly changing local features, such as a country’s legal environment or culture, economic makeup, regulatory environment, or political system”( Loïc Chiquier and Michael Lea) “The purpose of a housing finance system is to provide the funds which home-buyers need to purchase their homes. This is a simple objective, and the number of ways in which it can be achieved is limited. Notwithstanding this basic simplicity, in a number of countries, largely as a result of government action, very complicated housing finance systems have been developed. However, the essential feature of any system, that is, the ability to channel the funds of investors to those purchasing their homes, must remain.” (Mark Boleat) “Put simply, housing finance is what allows for the production and consumption of housing. It refers to the money we use to build and maintain the nation’s housing stock. But it also refers to the money we need to pay for it, in the form of rents, mortgage loans and repayments.” (Peter King) “There is recognition of other relevant forms of housing finance [apart from residential mortgage finance] such as developer finance, rental finance, or microfinance applied to housing. Developer finance is often in the form of unregulated advance payments by buyers, and developers sometimes provide long-term finance to buyers through installments sales when mortgages markets are not accessible. Microfinance for housing is typically used for home improvement or progressive housing purposes. Loans are typically granted without pledging properties. Although the overall impact of microfinance in housing remains limited, this activity can represent an important source of funding for those in the informal sector.” ”(Loïc Chiquier and Michael Lea) Housing does not mean the construction of a shelter only, a shelter to protect way from the inclemency’s of weather. Housing in its wide sense a comprehends a shelter designed to fit in with his social and cultural wants and located in proper environment supported by physical and social infrastructure.

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The total population of Udham Singh Nagar district was 832600, of which more than two-third of the population of the district lives in rural areas, which is lower than the State share of rural population. Scheduled caste and scheduled tribes constitutes respectively 14.3 per cent and 13.1 per cent of the population of the district. One-third of the population belongs to minority community. 72 per cent of the villages of the district were having at least a primary school, which is higher than the figure for the State. Udham Singh Nagar is industrially developing, but at the same time, it is lacking industrial training schools, as the district has just 2 such institutions. District has better health and drinking water facilities than the State aggregate. More than one -third of the villages of the district of Udham Singh Nagar have a PHC within a range of 5 km. More or less similar is the situation with availability of tap water, tube wells and hand pump. Work force participation rate was one-third, which is significantly lower than the State average. The proportion of casual labour is comparatively lower in Udham Singh Nagar than the State average. One -third of the rural population is agricultural labour and a quarter of the rural population is also engaged in other works. Findings: Socio-economic Conditions: In survey findings, Udham Singh Nagar lagged behind the all India average in two out of eight indicators and also lagged behind the all India level in terms of one more health related indicator. Table 1 below shows the gap between all India and district figures Vis -à-Vis ten indicators and prioritizes the development interventions vis-à-vis eight indicators. The district figure is based on the survey findings (2008) and all India figures are of 2004-05 and 2005-06. The distance from the all India figures may be higher, as all India data are a little old. Note: (1) Survey data of the district (Col. 1) pertains to the rural area only, but all India data (Col. 2 ) pertains to total.

There Are Many Services Available Like Online Internet Banking, Mobile Banking, Money Deposit/Withdraw, Loan Facility And Other Basic Facilities Are Provided By Private And Nationalized Banks In Udham Singh Nagar District, And Moreover There Are So Many ATMs Available In Udham Singh Nagar District. Here We Will Provide The Details Like IFSC Code, MICR Code, Branch Code, Contact Details, and Office Time Etc. Of Every Bank and Its Branches. We Provide The Correct And The Most Updated Information About Every Bank And Its Branch.

1. ALLAHABAD BANK 2. AXIS BANK 3. BANK OF BARODA 4. HOUSING DEVELOPMENT FINANCE CORPORATION BANK 5. NAINITAL BANK 6. ORIENTAL BANK OF COMMERCE 7. PUNJAB NATIONAL BANK 8. STATE BANK OF INDIA

9. STATE BANK OF PATIALA

These loans are available for the construction of a new home. The documents required by the banks or HFCs for granting you a home construction loans are slightly different from the home purchase loans. Depending upon the fact that when you have brought the land, the lending party would or would not include the land cost as a component, to value the total cost of the property.

Bridge Loans are designed for people who wish to sell the existing home and purchase another. The bridge loan helps finance the new home, until a buyer is found for the old home.

Balance Transfer loans help you to pay off an existing home loan and avail the option of a loan with a lower rate of interest. You can transfer the balance of the existing home loan to either the same HFC or any another HFC.

These loans are sanctioned to pay the stamp duty amount that needs to be paid on the purchase of property.

This is a special home loan scheme for the Non-Resident Indians (NRI) who wishes to build or buy a home or land property in India. They are offered attractive housing finance plans with suitable reimbursement options by many HFCs in the country.

There are a large number of agencies/institutions providing direct finance to individuals for house construction, there was no organsed housing finance system. The vacuum in the institutional finance for housing and other construction activities was felt due to inadequate flow of funds for such activities from existing institutions and absence of specialised credit institutions to provide funds for the purpose. The need to have a specialised system stemmed from the fact that the housing sector was not only inadequately served in terms of finance for individual loans but also in terms of buildable or serviced land, building materials, effective low-cost technology and other related know-hows. The National Housing Bank was established to create such a system. The Bank has been mandated to establish a network of housing finance outlets across the vast span of the nation to serve different income and social groups in different regions. The primary responsibility, of course, is to develop a healthy and self-sustaining housing finance system in the country.

http://www.iloveindia.com/real-estate/home-loans/home-loan-types.html India (1999) A reference annual; Publication Division, Ministry of Information and Broadcasting, Government of India. Loïc Chiquier and Michael Lea (2009). Housing Finance Policy in Emerging Markets, p. xxx. Loïc Chiquier and Michael Lea (2009). Housing Finance Policy in Emerging Markets, p. xxxii.

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National Accounts Statistics (1998). Central Statistical Organisation, Department of Statistics, Ministry of Planning and Programme Implementation, Government of India. Peter King (2009). Understanding Housing Finance – Meeting Needs and Making Choices, p.3. Reserve Bank of India Bulletin, March 1999 Reserve Bank of India, Annual Report 1997-98