Mon. Sep 28th, 2020

News Broadcasting Agency

Akme Star Housing Finance Limited forays in Tamil Nadu, Establishes physical presence in Chennai

Akme Star Housing Finance Limited (Akme Star HFC), a housing finance company active in affordable housing finance space has announced its foray in Tamil Nadu through establishing and operationalizing a branch in Chennai.Akme Star HFC has been operating in Rajasthan since more than a decade and has recently expanded its presence in the Maharashtra and Madhya Pradesh. The Company works with a business philosophy of enabling credit access to first time home buyers in target EWS / LIG (Economically Weaker Section / Low Income Group) section who wish to purchase low cost housing units

Akme Star HFC has chosen Tamil Nadu as the first state for expansion in southern part of India and through its Chennai branch, will be working with an objective of providing demand side intervention at the retail level targeting end users in the Pradhan MantriAwasYojana (PMAY) notified towns. The focus will be on residential projects where units qualify the criteria set by CLSS guidelines under the PMAY

Akme star HFC branch at Chennai is situated at Butt Road. This office would act as a hub for adjoining locations including Tambaram, Mahabalipuram, Sriperumbudur, Villupuram and Tiruvallur. The Company would be focusing on customers in EWS/LIG segment looking towards purchase / construction of own home. Akme Star HFC would offer housing loans up to Rs. 25 lakhs to these customers

Speaking on the occasion, Mr.Ashish Jain, Chairman &Managing Director, Akme Star HFC said,“Akme Star HFC is has expanded to newer geographies in the last couple of quarters and Tamil Nadu, being one of the biggest affordable housing finance market in India, becomes a natural choice for establishing our presence. With a projected housing demand of more than 5 million units over the next decade, more than 90% of which would be in low cost housing segment, we aim to play a meaningful role in providing housing finance assistance to the first-time home owning families. We intend to open more physical branches in Tamil Nadu over the next 2-3 years as a part of our scale up program”

On the occasion, Mr. PrashantKarulkar, a reputed social entrepreneur and a key member of Arkfin Investments Pvt. Ltd which is a strategic investor in Akme Star HFC said, “We are extremely happy to have Akme Star HFC venturing into Tamil Nadu. Multitudes of first-time home buyers stand to benefit from financial assistance through the Company and eligible ones stand to gain through Credit Linked Subsidy Scheme (CLSS) under Pradhan MantriAwasYojana (PMAY)”

About Akme Star Housing Finance Limited

Akme Star Housing Finance Limited (Akme Star HFC) is an NHB registered housing finance company founded by Late Shri. Mohan LalNagda and Shri. Nirmal Kumar Jain. The company has been operational in affordable housing finance space since commencement of business operations in Sep 2009. Akme Star HFC works with an intent to enable home ownership through providing housing finance to target EWS/LIG customers. Akme Star HFC is managed by Shri. Ashish Jain, Chairman and Managing Director and a team of experienced housing finance professionals. Akme Star HFC is registered as a Primary Lending Institution (PLI) under the Pradhan MantriAwasYojana (PMAY). The Company is listed on Bombay Stock Exchange (BSE) since March 2015. Akme Star HFC has its registered office in Udaipur, Rajasthan and Corporate Head Office in Mumbai, Maharashtra