Wave Group forays into housing finance sector

NEW DELHI: Leading business conglomerate Wave on Wednesday announced its foray into the housing finance sector with the unveiling of New Habitat Housing Finance and Development Limited.

The new company is poised to be a key propagator in the housing finance sector offering home loans and other related loans under various categories with a special thrust on affordable housing. The company will initially cater to customers in Delhi NCR and in the near future expand its reach to other tier II and tier III cities as well.

Speaking at the launch, Rakesh Kapoor, CEO & Whole-time Director of New Habitat Housing Finance and Development Limited, said “In the present scenario, there has been a gap in housing demand and availability of housing finance. To bridge this gap and realising the need and importance of this sector, Wave Group is now venturing into the housing finance sector.”

Talking about why Wave ventured into the housing finance sector, RK Panpalia, MD, Wave Group, said, “As a business conglomerate, Wave has always ensured to enter business which they are in sync with and as one of the emerging segments of the financial system in India, we, at Wave Group, have entered the housing finance sector through its new venture, New Habitat Housing Finance and Development Limited (NHHFDL), which is in synergy with our existing activities.”

According to a press release, Wave Group’s new initiative is in sync with the Government housing policies and agendas. With Wave’s expertise, the company wishes to reach out to the formal and informal segment of customers in order to provide them with easy and flexible housing finance solutions.