New Delhi, Dec 24: BASIC Home Loan, India’s fastest-growing mortgage-focused fintech platform, has partnered with udChalo Housing to offer tailored home loan solutions for serving and retired defence personnel and their families.
The partnership aims to simplify home ownership for defence and CAPF families by combining BASIC’s access to 150 lenders with udChalo’s deep understanding of defence housing needs. Together, the two companies will enable defence buyers to discover verified, defence-friendly residential projects and secure competitive home loans through a single, streamlined process.
Under this collaboration, BASIC Home Loan will facilitate financing for RERA-registered ready-to-move and near-possession residential projects, primarily in the INR 20 lakh and above price range. This includes 1.5, 2, and compact 3 BHK homes, plotted developments, and row houses. The focus is on affordable and mid-income housing, with projects selected to align with defence household income profiles and end-use requirements.
The partnership will initially launch in Chandigarh and Pune, with plans to expand to key defence hubs across India. Over the next three years, BASIC Home Loan expects loan disbursals of up to INR 1,000 crore through this initiative.
This collaboration comes amid strong momentum in the affordable housing segment, which was valued at approximately USD 3.17 billion in 2024 and is projected to grow to USD 9.46 billion by 2030, at a CAGR of nearly 19.8%, with North India being the largest market.
“Defence personnel represent a strong borrower segment with stable incomes and disciplined credit behaviour, yet their housing finance needs are often underserved. The partnership with udChalo allows us to deliver customised loan options that account for defence-specific income structures, postings, and long-term planning,” said Atul Monga, CEO & Co-Founder, BASIC Home Loan.
Rahul Singh Sirohi, Business Head Builder Business, BASIC Home Loan, added,
“Through this partnership, we are enabling access to competitive financing tailored to the lifestyle, budget, and long-term needs of defence families. By aligning builders, lenders, and platforms like udChalo, we are creating a more reliable and transparent home-buying ecosystem.”
udChalo brings to the partnership a large captive base of serving armed forces personnel, veterans, defence civilians, and their families. The platform curates projects located near strategic and defence-preferred locations, ensuring clear titles, bank-acceptable documentation, and realistic pricing aligned with defence household incomes.
Shivam Arren, CEO, udChalo, said,
“Housing is one of the most important yet complex decisions for defence families. By partnering with BASIC Home Loan, we are extending our support beyond property discovery to financing, ensuring our users get access to multiple lenders, competitive rates, and guidance at every stage of their home-buying journey.”
Over the next 3–5 years, BASIC Home Loan and udChalo aim to formalise and scale defence-focused housing finance across major cantonments and Tier-2 and Tier-3 cities, creating a structured ecosystem for first-time buyers, serving personnel, and retirees alike.
BASIC Home Loan operates a phygital home loan model with a proprietary lender-matching technology stack and access to 150 lending partners. The company has serviced over 3.5 lakh customers and achieved cumulative approvals of around INR 45,000 crore across 650 districts nationwide.