BASIC Home Loan, a leading mortgage-focused fintech platform in India, has teamed up with udChalo Housing to provide customized home loan solutions for current and retired defense personnel and their families. This collaboration aims to simplify the process of home ownership for defense and CAPF families by leveraging BASIC’s network of over 150 lenders and udChalo’s expertise in defense housing requirements. Together, they will assist defense buyers in finding verified residential projects tailored to their needs and securing competitive home loans through a seamless process.
Under this partnership, BASIC Home Loan will facilitate financing for RERA-registered residential projects that are ready-to-move or near-possession, focusing mainly on properties priced at Rs 20 lakh and above. The offerings will include 1.5, 2, and compact 3 BHK homes, as well as plotted developments and row houses. The emphasis is on affordable and mid-income housing options that align with the income profiles and preferences of defense households. Initially launching in Chandigarh and Pune, the partnership plans to expand to other key defense hubs across India in the future.
BASIC Home Loan anticipates loan disbursals of up to Rs 1,000 crore over the next three years through this collaboration. This initiative comes at a time when the affordable housing segment is gaining momentum, valued at around $3.17 billion in 2024 and projected to reach $9.46 billion by 2030, with North India being the largest market. Atul Monga, CEO & Co-Founder of BASIC Home Loan, highlighted the importance of catering to the specific housing finance needs of defense personnel, emphasizing the tailored loan options provided through the partnership with udChalo.
Rahul Singh Sirohi, Business Head – Builder Business at BASIC Home Loan, emphasized that the partnership aims to offer defense families access to competitive financing solutions that suit their lifestyle, budget, and long-term requirements. By aligning builders, lenders, and platforms like udChalo, the collaboration seeks to establish a more transparent and reliable ecosystem for homebuyers within the defense community. udChalo, known for its large base of serving armed forces personnel, veterans, and defense civilians, focuses on curating projects near strategic defense locations with clear titles, bank-accepted documentation, and realistic pricing in line with defense household incomes.
