Piramal Capital & Housing Finance Partners with India Mortgage Guarantee Corporation to Offer ‘Gruh Setu Home Loan’ | Odisha News | Latest news from Odisha

New Delhi: Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, has partnered with India Mortgage Guarantee Corporation (IMGC), the first and only mortgage guarantee company in India. It will offer Gruh Setu Home Loan – affordable mortgage-backed home loans to customers in unserved and underserved areas.

Steps to avail the loan:
• Customers can apply for a loan directly from PCHFL or by contacting distribution partners such as connectors and DSAs
• Complete the application form and submit the required loan documents
• Loan eligibility assessment is done by PCHFL and IMGC
• Client is offered options for a home loan structure that meets their needs with longer loan terms, lower EMIs and affordable interest rates
• Loan is disbursed after verification of ownership by PCHFL

Gruh Setu Home Loan aims to meet the ambitious needs of salaried and self-employed customers from all geographies and bring them closer to owning their dream home. The loan offer is designed to provide loans to people who receive a salary by bank or cash, retirees, employees of sole proprietorships and partnership companies as well as independent professionals such as doctors or architects, small business owners, owners and partners of partnership corporations.

Jairam Sridharan, Managing Director of PCHFL, said, “Piramal’s affordable housing solutions are aimed at unserved and underserved clients in Bharat. Although we have designed specific products to serve this population, there is a segment that is currently not credit viable. Our new Gruh Setu offer, created in partnership with IMGC, allows us to extend credit to this population with the support of a mortgage guarantee. We expect this partnership to generate 10-12% of our housing business. »

The partnership with IMGC will allow PCHFL to deepen its offer through more than 300 branches located across the country. Under this product, PCHFL will offer home loans ranging from INR 5 lakh to INR 75 lakh for terms of up to 25 years at very affordable rates.

Speaking on the partnership, Mr. Mahesh Misra, CEO of IMGC said, “We are delighted to partner with Piramal Capital & Housing Finance. Piramal’s real estate expertise will result in a well-structured, mortgage-backed home loan product that will help fulfill the dream of early home ownership for first-time homebuyers in India. It will also provide affordable home loans, thanks to lower down payments, longer loan terms and lower EMIs. IMGC will provide comprehensive support to PCHFL to strengthen underserved markets and expand operations to over 1,000 cities.

With the acquisition of DHFL, PCHFL is a leading player in the retail lending segment with access to over one million lifetime customers, a presence in 24 states with a network of over 300 branches. PCHFL plans to expand its operations to approximately 1,000 cities, with a physical presence in approximately 500 to 600 cities, over the next three years. The company relies on the “phygital” lending platform driven by machine learning (ML) and artificial intelligence (AI), including the new mobile app.

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