March 22, 2024: Star Housing Finance (Star HFL), a retail-focused semi-urban/rural housing finance company, has partnered with Tata Capital Housing Finance (TCHFL). The partnership aims to help economically weaker sections (EWS) and low-income groups (LIG) to avail more affordable rates. With a 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.
Kalpesh Dave, CEO of Star HFL, said, “This partnership validates our journey and continued focus to create a quality loan book. We aim to service 5,000 families in our operational geographies in the first phase of 6-8 operational quarters.”
Spokesperson at Tata Capital Housing Finance, said, “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.”
Star HFL is a BSE-listed rural-focused housing finance company. It 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 has a presence across states of Maharashtra, Madhya Pradesh, NCR, Gujarat, Rajasthan and Tamil Nadu.
Tata Capital Housing Finance is a wholly-owned subsidiary of Tata Capital and is registered with the National Housing Bank as a Housing Finance Company, offering long-term funds for housing purposes. TCHFL’s 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.
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