Inception

Incorporated in 2011, SEWA Grih Rin Limited was envisaged as a means for the under-served households to access affordable and formal housing finance in urban & peri-urban locations. We learnt that low-income households held two facets of their life very close to their heart: they treasured the education of their children; and aspired to self-own a property, a home of their own.

SEWA Grih Rin Limited’s work is aimed at directly improving the quality of life of informally employed households, especially their women members, by creating a tangible financial asset in their name. We provide an affordable alternative to those households whose credit capacity falls behind the widening financing gap given the informal nature of their employment.

SEWA Grih Rin Limited’s niche lies in opening up the formal financial sector to low-income households with undocumented incomes and informal housing tenure.

Why Affordable Housing

There is a documented shortage of 10-12 million housing units in urban India, with 96% of that shortage occurring in economically weaker segments. Additionally, 26-37 million urban households live in informal settlements that are inadequate to live in. Housing is also a driver for economic growth, especially for the poor – their homes often form the crux of their livelihood. Most of these urban poor households require a housing loan to purchase or improve their homes. However, they remain under-served as informal workers lack formal documentation of income and largely reside in informal settlements. Sitara caters to this segment of the population seeking housing finance, aiming to fulfil their desire to own a home.