The partnership aims to simplify home ownership for defence and CAPF families by bringing together BASIC’s access to 150 plus lenders and 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 journey.
Under the collaboration, BASIC Home Loan will facilitate home financing for RERA-registered, ready-to-move, and near-possession residential projects, primarily in the Rs 20 lakh and above price range, including 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 roll out in Chandigarh and Pune, and will gradually expand to key defence hubs across India.
Over the next three years, BASIC Home Loan expects loan disbursals of up to Rs 1,000 crore through this partnership. This partnership comes amid strong momentum in the affordable housing segment, valued at about $ 3.17 billion in 2024 and projected to grow to $ 9.46 billion by 2030, at a CAGR of nearly 19.8 per cent, with North India currently 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 that suits 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 this 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 plus lending partners. The company has serviced over 3.50 lakh customers and achieved cumulative approvals of around 45,000 crore across 650 plus districts nationwide.
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