Company Overview

Akme Star Housing Finance Limited (Akme Star HFC) is a NHB registered housing finance company incorporated in 2005 (Registered under section 29A of the National Housing Bank Act, 1987 as a Housing Finance Company vide Certificate of Registration No. 12.0080.09 dated Dec 24, 2009) with an intent to be an enabler to fulfil the home owning needs of the target EWS (Economically Weaker Section)/LIG (Low Income Group)/MIG (Middle Income Group) households by providing them long term housing finance towards the purchase of their home.

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Akme Star HFC is founded and promoted by Late Dr. Shri. Mohan Lal Nagda, Mr. Nirmal Jain and Mr. Kalu Lal Jain and is currently managed by a group of housing finance professionals. These professionals bring in rich experience across the domains and continue to leverage their expertise in HFC business to help build a strong franchise build on the values of Truth, Transparency, and Sincerity.

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Indian housing finance industry continues to exhibit strong tailwind backed by urbanization and nuclearization of Indian families that has resulted in an increase in demand for housing units. The total housing credit / GDP ratio still remains relatively lower at 9.7% when compared with developing and developed economies which reflects a huge potential for growth. With projected housing shortage of more than 110 million units by 2024-25, the sector is set to grow 20% annually over the next five years. Government of India also has taken requisite steps to address to the housing shortage in the country and beginnings have been made at the central and state level to address home ownership problem.

More than 95% of the total housing demand emanates from EWS/LIG/MIG households who yearn to be a potential first-time home owner but are unable to fulfil their dreams of home purchase due to lack of financing options available on fair terms. Akme Star HFC aims to address to the housing needs of this segment through demand side intervention by enabling credit access to these first-time home buyers and would attempt to contribute meaningfully towards Government of India’s mission “Housing for All”.

Akme Star HFC has been registered as a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY).

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Vision
To let the people feel the warmth of their “own house” by delivering quality financial product both in appearance and content.
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Mission
To be known as the organization where personal attention will never become obsolete. We want to employ people who are extremely satisfied and go the extra mile for clients. We want a culture of growth, profitability and enthusiasm throughout the company.
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Core Values
Seeking Excellence, Accountability and Ownership, Teamwork and Collaboration, Integrity, Nurturing Lives
Loan Process

A brief overview of loan process at Akme Star HFC covering application to disbursement. You can get a detailed overview by visiting any of our branches.

Step 1: Application for Home Loan

You may apply for a home loan by walking in to any of Akme Star HFC branches. You need to:

  1. Completely fill up the application form as per the given instructions
  2. Submit the necessary documents (Income and KYC documents) to initiate the processing of the application
  3. Submit the initial processing fees for processing the application

Our Business Development Officers would assist you in case you have any queries during this process. Once submitted, the application goes through appraisal process

Step 2: Credit Appraisal

At this stage, our appraisal officer will interact with you and with the help of submitted documents & one-on-one discussion; he / she will calculate loan eligibility. Post found eligible, you will be handed over the sanction letter which will contain the information on sanctioned loan amount, processing fees, loan tenure and rate of interest. You need to read this sanction letter carefully and sign it which indicates that you accept the terms and conditions mentioned in this letter.

Post acceptance, you need to submit:

  1. Balance processing fees
  2. Property related documents for legal and technical appraisal
Step 3: Legal Appraisal

Legal check on property documents is conducted which validate their authenticity. You need to submit all property related documents as required to avoid delay in processing. These papers are evaluated by empanelled lawyers who verify if the borrower is the absolute owner of the property that needs to be financed. Subsequently, validation of succession of title from earlier owners to the present one is done.

Step 4: Technical Appraisal

In technical appraisal, the validity for approvals for construction from local government bodies is verified. Compliance with building laws, like restrictions on the number of floors or height of the building, is also verified and the property to be financed is valuated and its condition is checked. Technical appraisal judges if the property to be financed is viable at all.

Step 5: Disbursement

Post credit, legal and technical appraisal, the documents are scrutinized one final time by the operations team. Once this is done, you formally request for disbursement and enter into a loan agreement with Akme Star HFC post which the amount will be disbursed

Board of Directors
Mr. Ashish Jain
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Mr. Nirmal Jain
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Mr. Kalu Lal
Jain
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Mr. S C Gupta
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Mr. Amrit Singh
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Dr. Rekha Jain
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Management Team
Mr. B. S.
Kachhawaha
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Mr. Kavish Jain
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Mr. Natesh
Narayanan
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Mr. Paritosh
Kothari
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Mr. Kalpesh
Dave
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