Dear Customer, Fasttrack Housing Finance Limited will never ask for sensitive details such as debit/credit card details, username, OTP, etc. or any other confidential banking credentials from you, hence do not respond to such requests received by you (if any) in the name of Company with anyone over Phone Call/ SMS/Email/what’s App messages or any other mode of communication. For any query/assistance/clarification, please visit our official website i.e. http://www.fasttrackhfc.com/

WELCOME TO Fasttrack Housing Finance Limited


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Samrudhhi Aapki.....  Saath Hamara.....!
 

Product name and its definition

Home Loan

For purchase or construction of new dwelling unit

Home Extension Loan

For making extension of a family unit in an existing house

Home Improvement Loan

For making improvements in an existing house

   

Loan Against Property

For expansion of existing business / Children education/ Marriage

   

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Home Finance

For purchase or construction of new dwelling unit


Description and Eligibility
  Constitution : Individuals
 
  Party Relations :
  • All Loans require one additional co-borrower who is blood relative (Blood relative means Father, Mother, Spouse, Son etc. Brother to be considered only if staying in joint family. Sisters and unmarried daughters to be strictly avoided)

  • Wherever profile is risky, company may ask for Guarantee of competent Individual/Firm

  •  
      Age Criterion :
    Entry Age for Borrower: 22 Years (Should be working from last two years minimum)
    Maximum Age :

  • For Salaried not exceed 60 years or retirement age +1

  • For Govt. Servants having pensionable Job- 70 Years

  • For Self Employed 65 Years

  •  
      Resident Status :
  • All Indian Residents Salaried, Self Employed Professionals (SEP's) and Self Employed NON Professionals

  • NRI's: As per company Policy

  •  
      Net Income :
  • Min. Declared Income of Rs. 8500.00 per Month i.e. Rs. 1.02 Lacs per annum (Any Deviation to this as per matrix)

  • For No Income profiles, basis actual business visit.

  •  
      Loan Amount :
  • Min.: Rs. 8.00 L

  • Max.: Rs. 25.00 L

  •  
      Tenure :
  • For Salaried: Min 1 Yr. & Max. 20 Yrs.

  • For SEP/SENP: Min. 1 Yr. & Max. 15 Yrs.

  •  
      Security Type :
    Residential Bungalow, Flat, Apartment, NA Plot on which construction is proposed

     
      LTV
    Maximum 80% of Agreement Value + Stamp Duty + Registration

     
      Rate of Interest
    From 12.00% to 15.00% for Home Loan and from 13.50% to 17.00% for Home Extension. Separate Rate grid will be circulated from time to time.

     

    Home Balance Transfer

    Transferring your existing Home Loan account to another bank


    Description and Eligibility
      Constitution Individuals
     
      Party Relations
  • All Loans require one additional co-borrower who is blood relative (Blood relative means Father, Mother, Spouse, Son etc. Brother to be considered only if staying in joint family. Sisters and unmarried daughters to be strictly avoided)

  • Wherever profile is risky, company may ask for Guarantee of competent Individual/Firm

  •  
      Age Criterion
    Entry Age for Borrower: 22 Years (Should be working from last two years minimum)
    Maximum Age :

  • For Salaried not exceed 60 years or retirement age +1

  • For Govt. Servants having pensionable Job- 70 Years

  • For Self Employed 65 Years

  •  
      Resident Status
  • All Indian Residents Salaried, Self Employed Professionals (SEP's) and Self Employed NON Professionals

  • NRI's: As per company Policy

  •  
      Net Income
  • Min. Declared Income of Rs. 8500.00 per Month i.e. Rs. 1.02 Lacs per annum (Any Deviation to this as per matrix)

  • For No Income profiles, basis actual business visit.

  •  
      Loan Amount
  • Min.: Rs. 3.00 L

  • Max.: Rs. 15.00 L

  •  
      Tenure
  • For Fresh Loan: Min 1 Yr. & Max. 10 Yrs.

  • For Existing Loan Customers: Min. 1 Yr. & Max. 10 Yrs. or remaining Tenure which ever is low

  •  
      Security Type
    Residential Bungalow, Flat, Apartment, NA Plot on which construction is proposed

     
      LTV
    Maximum 80% of MV. BT can be done only post 12 months seasoning with existing Financer. TopUp Loan cannot be more thean 25% of the Balance Loan Amount.

     
      Rate of Interest
    From 12.00% to 15.00% for Home Loan and from 13.50% to 17.00% for Home Extension. Separate Rate grid will be circulated from time to time.

     

    Home Improvement

    For making improvements in an existing house


    Description and Eligibility
      Constitution Individuals
     
      Party Relations
  • All Loans require one additional co-borrower who is blood relative (Blood relative means Father, Mother, Spouse, Son etc. Brother to be considered only if staying in joint family. Sisters and unmarried daughters to be strictly avoided)

  • Wherever profile is risky, company may ask for Guarantee of competent Individual/Firm

  •  
      Age Criterion
    Entry Age for Borrower: 22 Years (Should be working from last two years minimum)
    Maximum Age :

  • For Salaried not exceed 60 years or retirement age +1

  • For Govt. Servants having pensionable Job- 70 Years

  • For Self Employed 65 Years

  •  
      Resident Status
  • All Indian Residents Salaried, Self Employed Professionals (SEP's) and Self Employed NON Professionals

  • NRI's: As per company Policy

  •  
      Net Income
  • Min. Declared Income of Rs. 8500.00 per Month i.e. Rs. 1.02 Lacs per annum (Any Deviation to this as per matrix)

  • For No Income profiles, basis actual business visit.

  •  
      Loan Amount
  • Min.: Rs. 2.00 L

  • Max.: Rs. 15.00 L

  •  
      Tenure
  • For Fresh Loan: Min 1 Yr. & Max. 10 Yrs.

  • For Existing Loan Customers: Min. 1 Yr. & Max. 10 Yrs. or remaining Tenure which ever is low

  •  
      Security Type
    Residential Bungalow, Flat, Apartment, NA Plot on which construction is proposed

     
      LTV
    Maximum 75% of the market Value, on existing loans we can extend loan only after 12 months seasoning and combined exposure should not cross 85% of LTV. In case of furniture Loan on Ready possession properties, maximum LTV can be considered as 90%.

     
      Rate of Interest
    From 12.00% to 15.00% for Home Loan and from 13.50% to 17.00% for Home Extension. Separate Rate grid will be circulated from time to time.

     

    Home Equity/LAP

    For expansion of existing business / Children education/ Marriage


    Description and Eligibility
      Constitution :
    • Individuals
    • Proprietorship Company
    • Partnership Company
    • LLP Company
    • Pvt. Ltd. Company
    • Public Limited Company
    • Trust

     
      Party Relations :
  • Guarantee of some competent Individual/Firm is required where Borrower is Individual

  • Wherever Borrower is Firm, we need to seek Guarantee of Partners/Directors/Trustees as per constitution

  •  
      Age Criterion :
  • For Individuals: Same as HF

  • For Firm/Companies: Should be in existence for more than 3 years

  • For Guarantee: Same as HF

  •  
      Resident Status :
  • For Indian Companies as per Constitution

  • Guarantee of NRI's as per Deviation

  •  
      Net Income :
  • Min. Declared Income of Rs. 12000.00 per Month i.e. Rs. 1.44 Lacs per annum (Any Deviation to this as per matrix)

  •  
      Loan Amount :
  • Min.: Rs. 8.00 L

  • Max.: Rs. 50.00 L

  •  
      Tenure
  • For Individuals : Min 1 Yr. to 7 Yrs.

  • For Companies : Min. 1 Yr. to 10 Yrs.

  •  
      Security Type
    • Residential Premises of any kind
    • Commercial Property like Shop, Office premises etc.
    • NA Property (LTV to be restricted to 45%, may consider 50% for fenced properties)


     
      LTV
    • Self Occupied Residential Properties: 70%
    • Self Occupied Commercial Properties: 60%
    • On Rent out properties: 5% additional margin
    • Lease Hold Residential properties: 70%
    • Open NA Land (Unfenced): 40%
      (Fenced) : 50%


     
      Rate of Interest
    From 12.00% to 15.00% for Home Loan and from 13.50% to 17.00% for Home Extension. Separate Rate grid will be circulated from time to time.

     

    About us


    MANAGEMENT TEAM
    Mr Sudhir Valia

    Director

    Mr. Sudhir V. Valia is a Member of the Institute of Chartered Accountants of India. He has been the director of Sun Pharma since 1993 and is also on the board of Taro Pharmaceuticals Ltd. He has won CNBC TV18's CFO of the Year in the Pharmaceutical and Healthcare Sectors for two consecutive years (2011 and 2012).

    Mr Mahendra Mahajan

    Director

    Mr Mahendra Mahajan has completed Bachelor of Production Engineering from Mumbai University and Post Graduate Diploma in Business Management. He has total work experience of over 25 years in the field of corporate finance and banking. In his last stint, he has managed Commercial Real Estate and Housing Loan portfolio of ICICI Bank having book size exceeding ₹ 120 thousand crores over an extended period of 14 years.

    Mr Paras Mehta

    Director

    Mr Paras Mehta is Commerce graduate and Chartered Account by profession. He has around 15 years of experience in Accounts, Finance and Taxation.



    History of Fasttrack Housing Finance Limited
    Fasttrack Housing Finance Limited has been conceptualized with the objective of making finance available to individuals who wish to own a house. We want to contribute to the Indian economy by bringing no income and low-income profiles in the main stream of Society by helping them, to build their own dreams…. Their own House. We want to commit ourselves to the common economic goal of financial inclusion.
     
    It has been observed that a significant percentage of people in India struggle to build their own shelter and finance remains one of the big hurdles. They find it difficult to avail housing finance from nationalised or private banks and NBFC's due to income issues where records of incomes are not maintained; and property related issues like Sale of property without consent of legal hairs, in some cases proper records of property are not maintained and also entire legal process for transfer of property is not followed like probated will not obtained, succession certificate from magistrate not obtained etc.; which becomes obstruction in availing Finance. In such situation, these small business profiles having no or low income fall prey to local financers or money lenders who lend them at exorbitant rates.
     
    Not all such cases are problematic. We, at Fasttrack Housing Finance Limited, are committed to make finance option available where despite of good income, finance is not available due to non-availability of income proof and property issues.
     
    With core Values such as Transparency, Integrity, high business ethics, entrepreneurial approach we intend to become India's best Housing Finance Company.
     
    Fasttrack Housing Finance Limited is promoted by Mr. Sudhir Valia. He is a Chartered Accountant by qualification and is on the board of Sun Pharmaceutical Industries Limited. He is having expertise in buying out sick units and turning them profitable. He also has a vast experience in the Real Estate industry, having participated in numerous housing projects in Mumbai.
     
    We got our license in August 2015 and we actually commenced operations from January 2016. We initially piloted at three locations till July 2016 and since from then we started spreading our wings. As on date we are present at 12 locations in the state of Maharashtra and Gujarat and have a customer base of in excess of 300 customers. We intend to serve more than 2000 customers in the coming year from more than 20 locations.

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    Values and Philosophy

         
    Objective of Fasttrack Housing Finance Limited
       
  • To make Housing Finance readily available to every segment of Society in Rural India
       
  • Help small businesses to raise finances from their existing properties in Rural India
       
  • Help low income profile customers to raise Finance for buying or constructing their own house
       
  • Contribute to affordable housing segment and encourage low cost housing by funding to Small Builders in Rural India for their trunkey projects
     
         
    Vision and Mission Statement
          Vision Statement
          Make Finance available to individuals of India who wish to have their own Independent House or want to grow their business
     
          Mission Statement:
          At Fast Track Housing Finance Ltd. we are committed to make finance option readily available to middle class and lower middle class segment of rural india which mainly runs on cash transaction and hence remains deprived of finance options for their homes or business. We intend to serve minimum 25000 households in next five years span with this vision.
     
         
    Value system of Fasttrack Housing Finance Limited
          We are committed to provide easy finance option to those individuals of rural india which is in the debt trap of local money lenders. In a process we are committed to our core values of :
       
  • Innovation
       
  • Integrity
       
  • Transparency
       
  • Entrepreneurial Approach
           
          To bring dream of every deserving person in rural India to reality by providing them small ticket home and business finance
     

                              Regulatory Disclosures


    Disclosure of penalties levied by National Housing Bank

    With reference to the NHB Policy Circular number NHB (ND)/DRS/Policy Circular No.93/2018-19 dated February 15, 2019 with regard to Disclosure of penalty levied by National Housing Bank on contravention/ default of regulatory requirements, National Housing Bank had levied penalties on Fasttrack Housing Finance Limited.
    The details of the same are as follows:

    Sr. No Date of NHB Letter Nature of deficiencies in Regulatory Compliance Amount of Penalty
    1. December 04,2019 Non-submission of statement on Structural Liquidity and Interest Rate Sensitivity prescribed under ALM Guidelines ₹ 2,000/- (Rupees Two Thousand only) plus applicable GST of ₹ 360/- @ 18%
    2. December 09,2019 Non timely submission of Quarterly Return on schedule III for the period ended on 30-06-2019 ₹ 1,000/- (Rupees One Thousand only) plus applicable GST of ₹ 180/- @ 18%
    3. February 04,2021 Contravention of Section 29C of NHB Act, 1987 ₹ 5,000/- (Rupees Five Thousand only) plus applicable GST of ₹ 900/- @ 18%

    Get in touch

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    Head Office
    Fasttrack Housing Finance Limited
    ITI House 36, Dr. R.K. Shirodkar Road, Parel, Mumbai – 400 012, Maharashtra, India.
    Ph: (022) 40273600
    Fax: 022 - 40273700
    Email
    contactus@fasttrackhfc.com

    Our Branches


    MAHARASHTRA


    Mumbai Head Office

    Address : ITI House 36, Dr. R.K. Shirodkar Road, Parel, Mumbai – 400 012, Maharashtra, India.




    Contact No : 2240273600
    Email: contactus@fasttrackhfc.com
    complaints@fasttrackhfc.com

    ## Kalyan



    Email: contactus@fasttrackhfc.com

    Pune

    Address : : Office No 613 & 614, 6th floor, City Square Building, Behind Cloudnine Hospital, Shivaji Nagar, Pune - 411005

    Key Person :Mr. Nilesh Vaidya
    Contact No : 7020449204
    Email: nilesh.vaidya@fasttrackhfc.com

    ## Aurangabad

    Key Person : Mr. Priyanand Suradkar
    Contact No : 9762524376
    Email: priyanand.suradkar@fasttrackhfc.com

    ## Solapur



    Email: contactus@fasttrackhfc.com

    ## Latur



    Email: contactus@fasttrackhfc.com

    ## Pimpri


    Email: contactus@fasttrackhfc.com

    ## Vasai



    Email: contactus@fasttrackhfc.com

    ## Thane



    Email: contactus@fasttrackhfc.com

    ## Panvel



    Email: contactus@fasttrackhfc.com


    GUJARAT


    Vadodara

    Address : : FF-101-Arpan Complex, Opp. Hanuman Temple, Deluxe Cross Road, Nizampura, Vadodara- 390002

    Key Person :Mr. Paresh Patel
    Contact No : 9824783857
    Email: paresh.patel@fasttrackhfc.com

    Himatnagar

    Address :2nd Floor, 203, Sun Complex-2, Opposite Hotel Land Mark, Motipura Circle, Himatnagar - 383 001.

    Key Person : Mr Chinmay Patel
    Contact No : +91 9998413736
    Email: chinmay.patel@fasttrackhfc.com

    Ahmedabad

    Address :B-301/302, Shivanta One, Above IDFC First Bank, Opp Nalli Saree Showroom, Near Kochrab Ashram, Pritam Nagar, Paldi, Ahmedabad – 380007

    Key Person : Mr. Ashish Nayak
    Contact No : 7303539607
    Email:ashish.nayak@fasttrackhfc.com

    Surat

    Address : Meridian Tower 301 3nd Floor, Opp. Reliance Mall, N/r. Apple Hospital, B/S. Passport Office Udhna Darwaja Surat, Gujarat 395002

    Key Person : Mr. Piyush Desai
    Contact No : 9998094754
    Email:piyush.desai@fasttrackhfc.com

    Mehsana

    Address : S-2, Sigma Oasis,Above Woodland, Highway, Mehsana, Gujarat - 384002

    Key Person : Mr. A Murugan
    Contact No : 9016293674
    Email: a.murugan@fasttrackhfc.com

    ## Patan


    Email: contactus@fasttrackhfc.com

    Palanpur

    Address : Shop No. 7, 8 & 9, Trimurti Complex, Abu Highway, Near Sanskruti Complex, Palanpur – 385001

    Key Person : Mr. A Murugan
    Contact No : 9016293674
    Email: a.murugan@fasttrackhfc.com

    ## Surendranagar


    Email: contactus@fasttrackhfc.com


    KARNATAKA


    BANGALORE

    Address :No-65, Shreenijaya Arcade, 3rd Floor, T-Dasarahalli,Tumukur Road Bangalore-560057

    Key Person : Mr. Santosh Kumar
    Contact No : 9945126548
    Email: santosh.kumar@fasttrackhfc.com

    ## HUBLI


    Email: contactus@fasttrackhfc.com

    MYSORE

    Address : 147, K-51, Rama vilas Road, 2nd floor Above Central Bank of India, K.R. Mohalla, Mysore -570024


    Email: contactus@fasttrackhfc.com

    TUMKUR

    Address :Shreeyog Building Ward No:21, 2nd Floor, Beside Danalakshmi Bank, Valmiki Nagar, Tumkur - 572103


    Email: contactus@fasttrackhfc.com


    RAJASTHAN


    ## Jaipur


    Email: contactus@fasttrackhfc.com

    ## Kota


    Email: contactus@fasttrackhfc.com


    TAMILNADU


    Coimbatore

    Address : 1st Floor, 594, Obli Towers, D. B. Road, R. S. Puram, Coimbatore - 641002

    Key Person : Mr. Devasenapathy.A
    Contact No : 9843440322
    Email: devasenapathy.a@fasttrackhfc.com

    Salem

    Address :Office No F1 at First Floor, Mahalakshmi Nivasam, 121, Rajaji Road, Salem 636007

    Key Person : Mr. Prabhu Rajasekar
    Contact No : 9894175874
    Email: prabhu.r@fasttrackhfc.com

    Trichy

    Address :3rd Floor, No 38/39, Bharathidasan Salai, Cantonment, Trichy – 620 001

    Key Person : Mr. Ganeshkumar K
    Contact No : 7010939847
    Email: ganeshkumar.k@fasttrackhfc.com

    Theni

    Address :720-A, Ward No. 25, Nehruji Street, Periyakulam Road , Theni - 625 531

    Key Person : Mr. Dinesh T
    Contact No : 9943264368
    Email: dinesh.t@fasttrackhfc.com

    Madurai

    Address : 2nd Floor, KRV Arcade, Door No 16-17, North Veli Street, Madurai - 625001

    Key Person : Mr. Anandhan G
    Contact No : 9361915388
    Email: anandhan.g@fasttrackhfc.com

    ## Nungambakkam - Chennai


    Contact No : 2240273600
    Email: contactus@fasttrackhfc.com

    ## Tambaram - Chennai


    Contact No : 2240273600
    Email: contactus@fasttrackhfc.com

    Ambattur - Chennai

    Address :150, Redhills Road , Bharathi Nagar, Pudur, Ambattur, Thiruvallur (Dt) Chennai - 600053

    Key Person : Mr. Dinesh T
    Contact No : 9943264368
    Email: dinesh.t@fasttrackhfc.com

    ## Customer of these branches may contact Fasttrack Housing Finance Limited on email id contactus@fasttrackhfc.com or Call us at 022-66214837