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Akme Star Housing Finance was originally incorporated with the name of “Akme Buildhome Private Limited” to tap the potential growth in the housing finance industry of the Country on March 17, 2005. The Name of the Company was changed to “Akme Star Housing Finance Private limited” on October 23, 2009. Further on the suggestion of NHB it has been further changed to “Akme Star Housing Finance Limited” on November 13, 2009. License from the NHB was also amended and the renewed license no. 12.0080.09 in the name of “Akme Star Housing Finance Limited” was issued on December 24, 2009.
As a value driven corporate the company focuses on direct customer contact, transparency, quality customer servicing and speed of operations. The company is a well-recognized brand in Udaipur and surrounding region and intends to extend its presence and business activities through deepening its reach in existing regions and expanding to new regions that are untapped and underserved. The company understands the customer requirements of these dynamic markets and continues to evolve processes and products that cater to the needs of the target segment it serve. Housing Finance Sector’s asset quality performance has been better than banks in past several years. Sectoral focus, robust systems and process has contributed to healthy portfolio quality. According to the technical analysis the housing shortage in urban India was estimated at 18.78 million units in 2012. 95 percent of the shortage of housing is in the EWS/LIG segments. The need for low cost, safe and affordable housing to achieve inclusive growth cannot be overemphasized.
Business area of the company
The company has an aim to provide home loans finance to weaker sections of the society, group housing societies and NGOs engaged in the welfare of the weaker section. The company is consciously targeting markets that are relatively underpenetrated. The company sustained growth in the Indian economy will result in urbanization and significant development in the housing sector of the Country. The company is a professionally managed housing finance company having it’s headquarter at Udaipur, Rajasthan. It is registered as a housing finance company with the National Housing Bank (NHB), the housing finance regulator of India.
The company offers a variety of home loan products which are designed to cater the dynamic needs of rural and micro-rural borrowers. Its commitment to offer the home loans comprise of products like ‘Loan to purchase new housing units’, ‘ Loan to construct new units’, ‘Loan to purchase plot and construction of units thereon’, ‘Extension & Renovation Loan’ etc.