| Singapore-based sovereign investment firm Temasek is looking to make inroads into the housing finance business in the country through its subsidiary Fullerton.Fullerton India Credit Company is the wholly owned subsidiary of Fullerton Financial Holdings, which is a subsidiary of Temasek. The non-bank finance company plans to enter housing finance towards the end of this year and expects to disburse around Rs 500-600 crore in 2016-17.
"We have already got the necessary approval. We are primarily looking to finance affordable houses with an average ticket size of around Rs 60-70 lakh. Demand for affordable housing is coming from tier II and III markets. The eastern region offers a huge potential for our housing finance business and we are well-placed to cater to the increasing demand," said Rakesh Makkar, executive vice-president and head (business and marketing) of Fullerton India...............................................Full Article: Source
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