BENGALURU: Grihashakti, a wholly owned subsidiary of the
Fullerton India Credit Company Limited, Singapore and Finance Buddha, one of
the largest integrated lending platforms in the country have come together to
launch affordable housing projects.
Ravindra Rao, CEO, Fullerton Grihashakti says,
"Presently there is a shortfall of 71 million affordable housing units in
India. Our housing company - Grihashakti, was set up to address this growing
demand for affordable housing units and also is in line with Government of
India's initiative of 'Housing for all by 2022'. We are happy to partner with
Finance Buddha as we believe that this alliance will leverage our individual
strengths and will help us in catering to the needs in affordable housing
segment."
The shortage for
housing for the lower income segment in India will be 25 million by 2025
(inclusive of the backlog), which is currently being valued at anything between
Rs. 5-10 trillion.
The combined entity of Grihashakti and Finance Buddha is
focusing to become a leading player in the affordable housing segment and will
be adding another niche to their basket of offerings.
"We feel extremely proud that Grihshakti has partnered
with us for this initiative. We are confident of working with them to ensure
deeper penetration of this important product suite and encourage various
stakeholders like builders, real estate brokers, loan agents, financial experts
etc. to partner with us to provide this important service to people looking for
affordable housing loans. This is also in line with our credit inclusion
agenda," says Arun Raj, Business and Strategy Head, Finance Buddha.
Finance Buddha will use their multi-channel approach using
analytics and marketing to identify customers for this segment, and couple it
with their offline presence to provide real time solutions and products in this
space.
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