To invest Rs 250 crore
Esaar (India) announced that the company is planning to focus on Micro Housing Finance to the tune of Rs.250 crore.Esaar (India) an NBFC registered with RBI is foraying into micro housing finance sector in a big way. Company has chalked out ambitious plan to make a mark in the huge potential that India's Micro Housing finance sector offers.
One of the issues stalling the development of low income housing is the lack of finance available to lower Income households (especially those without documentation to prove incomes) to buy such homes. Esaar (India) plans to specifically address this gap. Company's main objective will be to provide housing finance for lower income households (mostly in the informal sector) in urban India.
With the NDA led government at center, laying focus on housing for the urban poor and middle class the company sees huge potential and has prepared an aggressive road map to grow through acquisitions and organically. The company is in the process of raising funds for the venture and is seeing lot of interest from the investor community. The company will exclusively focus on providing mortgage solutions to the financially excluded and informal income earners in urban India.
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