I have been a career banker for almost 40 years. I realised that housing is one area which will be given a lot of thrust in days to come.

CHENNAI: The housing finance space is considered to be booming. Balachandran Muthusamy, Chairman of the newest player on the block, Sasvitha Home Finance tells CE why the company is different from its peers.


What makes Sasvitha Home Finance different from the numerous other players in the space?
Financing for housing is nothing new but most of the well-known establishments are focused on the organised sector — those with monthly salary slips and those who file I-T returns. Even most of the people who approach for housing loan assistance are from urban areas. We wanted to cater to the unorganised sector and take housing finance to tier-2 and tier-3 cities which have been underserved so far. We are not the first to do the same but the pie is so large that we felt that there is always room for new entrants focussing on certain geographies that we are acquainted to and servicing certain segments where we are confident of reaching out and making an

How do you see government subsidies helping to put the limelight on housing?
The Prime Minister’s Credit Linked subsidy scheme for urban house owners is a big boon. People in the economically weaker sections and middle-income group who want to go for homes for the first time depending on their income strata, can avail subsidies ranging from R6 lakh to R9 lakh.The great advantage of this interest subsidy scheme is that repayment burden will be reduced. But as a housing finance company, we will not restrict ourselves only to this and will look at the feasibility of financing such people with or without subsidies.