Indore (Madhya Pradesh) [India], March 28: New Habitat Housing Finance and Development Limited (NHHFDL), the Housing Finance subsidiary of SAVE Solutions Pvt. Ltd., has opened its latest branch in Indore, Madhya Pradesh. With the current presence in the states of Delhi NCR, Bihar, Jharkhand, Rajasthan, Uttar Pradesh, and Uttarakhand, SAVE’s New Habitat Housing Finance is all set to offer affordable home loans in the state of Madhya Pradesh. This new branch is located at 327 & 328, Shree Krishna Divine, Marimata Square, Indore, Madhya Pradesh, which will serve the customers of Indore and adjoining districts. With this, the organization also plans to expand into the Malwa region of the state and is very soon going to open branches in Ujjain & Mandsaur.
This move is not only directed at creating greater availability of housing loans for the underserved segment of aspiring home buyers but is also targeted to support more employment opportunities for the youth residing in the region. The Loan Products offered by the company include all types of Housing Loans (purchase/construction/renovation) and Non-Housing Loans (loans against residential & commercial property), especially for those that have limited access to the formal credit system.
Ajeet Kumar Singh (MD, CEO, and Co-Founder, SAVE Group) says: “With the addition of the Housing Finance Subsidiary, the aim of the organization has been to bring individuals into the realm of formalized credit in the affordable housing segment. While financial inclusion has been the primary objective of the group, by ensuring more financial awareness and literacy through its parent company, providing access to credit for various customer-centric needs is the ultimate solution. The pandemic has taught all of us how important it is to have our own home, and through New Habitat Housing, we are trying to cater to this basic need for our consumers. With the expansion into new territories, SAVE is trying to offer its myriad of products across the country and is determined to establish its presence in locations which are underserved by the formal banking system.”
SAVE Group began its housing credit operations through NHHFDL in January’22, and since then, the company has served around 600 new customers in the housing segment.
The new branch at Indore has been inaugurated by Mr. Ajeet Kumar Singh, MD, CEO & Co-founder, SAVE Group in the presence of the Indore Branch Team and the CEO of NHHFDL, Mr. Kaushal Kishore Singh. Highlighting the vision of the NHHFDL, Mr. Kaushal adds, “The organization is trying to reach the informal segment of customers belonging to Lower Income Groups and Lower Middle-Income Groups; who are dreaming of having their own homes. Our particular focus is on those individuals who are unable to avail of loans from the bank but have sufficient income to pay the loan through smaller EMIs. SAVE’s New Habitat is dedicated to ensuring that the process of home ownership is eased for the home buyers, particularly in tier 2 and tier 3 cities.”
About SAVE’s New Habitat Housing Finance and Development Limited
New Habitat Housing Finance and Development Limited (NHHFDL) is an NHB registered Housing Finance company that is focused on offering home loans to the affordable Housing segment. The Company is now part of the SAVE Group. The parent company SAVE Solutions Pvt. Ltd. is one of India’s largest Banking Correspondent Networks. It encompasses a network of 12000+ CSPs, which service over 21 million rural Indians residing in 8600+ villages that are spread across 559+ districts in 28 States and 3 Union Territories.
NHHFDL has joined hands with three other subsidiaries of SAVE Group, namely SAVE Microfinance Pvt. Ltd., SAVE Financial Services Pvt. Ltd., and SaGgraha Management Services Private Limited, to together offer a bouquet of financial services and products under one roof.
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