Mumbai: Tata Capital Housing Finance Ltd (TCHFL), a wholly-owned subsidiary of Tata Capital Ltd on Tuesday said it has received certificate of registration from the National Housing Bank (NHB) to start operations as a housing finance company.
Tata Capital already has a presence in retail finance with auto loans, personal loans and loan against property among its products.
Announcing the new initiative, Praveen P Kadle, managing director, Tata Capital Ltd said in a statement that “The housing sector is treading a path of growth. Floating a home finance company will give us the opportunity to participate in the growing housing sector. Helping customers realize their dreams of owning a house is both fulfilling and rewarding and TCHFL will endeavour to lend its support to discerning customers in the housing segment.”
The company will create a network of around 35 outlets by the end of fiscal 2010, it said in a statement, focusing primarily on Tier II and Tier III cities