Udaipur: Akme Star Housing Finance Limited (Akme Star HFC), a housing finance company active in affordable housing finance space has announced that it is strengthening its presence in Rajasthan. Akme Star HFC has been operating since more than a decade in Rajasthan and works with a business philosophy of enabling credit access to first time home buyers who wish to purchase low cost housing units.
The expansion in the existing geography of Rajasthan would be keeping in mind the growth plans of the Company and accordingly the locations with good business potential in the affordable housing space have been shortlisted. The objective would be providing demand side intervention at the retail level targeting end users in the Pradhan Mantri Awas Yojana (PMAY) notified towns. The focus will continue to be on residential projects where units qualify the criteria set by CLSS guidelines under the PMAY
Akme Star HFC would enable expansion through digging deep in the 21 districts of Rajasthan where the Company already has its presence and establishing presence in remaining 12 districts. The penetration in the existing districts would be based on business potential and customer service. The newer districts would be phase wise scale up from establishing smaller set ups to bigger offices based on demand for credit at retail level, housing shortage, number of affordable housing projects, and demographic related factors
Speaking on the occasion, Mr.Ashish Jain, Chairman & Managing Director & CEO, Akme Star Housing Finance Limited said,“Akme Star HFC has been operational in Rajasthan since more than a decade and we as a team know the dynamics of affordable housing space in this state. We seek to leverage this rich experience available with us through qualitative/quantitative data to expand to the other districts and strengthen our position in existing districts where we already have presence. Rajasthan has urban housing shortage of 1.2 million units, more than 95% of which are in low cost housing segment. Hence, we stay focused in the state and aim to contribute meaningfully towards home ownership to deserving EWS/LIG families“