Star Housing Finance Ltd. Inks co-lending partnership with Tata Capital Housing Finance Ltd. Aims to service 5000 home buyers in EWS/ LIG segment in the first phase of engagement.
Star Housing Finance LTD (Star HFL. BSE:539017), a leading retail focused semi-urban /rural housing finance company, has partnered with Tata Capital Housing Finance Limited (TCHFL). The partnership aims to help Economically Weaker Sections (EWS) and Low-Income Group (LIG) to avail more affordable rates by leveraging the strength of TCHFL and leveraging on the distribution of STAR HFL.
With this tech powered co-lending approach, the partnership aims to serve customers across multiple geographies with differential origination capabilities and differential level of franchise on the borrower base.
Speaking on the occasion, Mr. Kalpesh Dave, CEO of Star HFL said, “This partnership validates our journey and continued focus to create a quality loan book. We are happy that TCHFL trusted and validated our domain and capabilities to build a retail low ticket home loan book. We aim to service 5000 families in our operational geographies in first phase of 6-8 operational quarters. We truly value this partnership and look forward to a long and mutually beneficial association.”
Speaking on the partnership, spokesperson at Tata Capital Housing Finance said, “We are happy to collaborate with Star Housing Finance Limited for this co-lending partnership. Together, we are dedicated to meeting the needs of underserved prospective homebuyers who lack access to formal credit, empowering them to fulfill their homeownership dreams. This partnership not only caters to an aspiring segment of customers but will also strengthen our loan portfolio with quality assets.”
About Star Housing Finance Limited: Star HFL is a BSE listed rural focused housing finance company. The Company has been operational in the low-cost housing finance space since 2009. Star HFL provides long term housing finance assistance to EWS/LIG families towards purchase/construction of low-cost housing units (affordable housing) in its operational geographies. Star HFL is a professionally managed Company with a presence across states of Maharashtra, Madhya Pradesh, NCR, Gujarat, Rajasthan and Tamil Nadu. The company is registered as a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY) and has received subsidy for its qualified customers under CLSS scheme. Star HFL has its Registered & Corporate Office in Mumbai, Maharashtra
About Tata Capital Housing Finance: Tata Capital Housing Finance Limited (TCHFL) is a wholly owned subsidiary of Tata Capital Limited and is registered with the National Housing Bank as a Housing Finance Company, offering long-term funds for housing purposes. TCHFL’s wide product range includes loans for purchase and construction of a residential unit, purchase of land, home improvement loans, home extension loans, project finance loans to developers etc.