Shriram Automall India Limited (SAMIL), an ISO 9001:2008 certified firm with AA rating from CRISIL, has forged a strategic alliance with TATA Capital Housing Finance Limited (TCHFL), a housing finance subsidiary of TATA Capital Limited. As per the agreement, SAMIL will provide ‘End-to-End Bidding Services’ for disposal of TCHFL’s housing properties with its extensive experience and wider reach, a statement issued by SAMIL said.
From (L-R): Samir Chakraborty (National Functional Head – Housing & Mortgage of SAMIL); Sudeep Kumar Banerjee (National Head – Business Development of SAMIL); Ranjit Dash (Legal Manager of TCHFL) and Sachin Saxena (National Collection Manager of TCHFL).
Reacting on the partnership, Sameer Malhotra (CEO of SAMIL) said: “Housing is an extremely promising segment for Shriram Automall to take its bidding expertise on to the next level. Through this tie-up with TATA Capital Housing Finance Limited, we are eyeing at an expansion of this newly-launched housing segment within our operations. Under this association, we shall strengthen the disposal of TATA’s immovable assets through our both physical and online bidding platforms.”
In accordance to the MoU signed on February 11, 2015, SAMIL will conduct regular physical and online bidding events, specifically catering to the Residential Property Segment of TATA Capital Housing Finance Limited. The Company already holds a strong position within the pre-owned vehicles and equipment sector of India through its complete services and multiple bidding platforms. Known for maintaining complete transparency within transactions, it has promised value-for-money deals which will be strongly based on ethical grounds.
SAMIL has an online bidding web portal – bids.samil.in, which conducts regular bidding events, every month. Moreover, the Company has also developed a new web portal – property.samil.in, which will purely conduct online bidding events, specifically catering to properties. This portal will play an effective role in disposing different properties of TCHFL with its huge customer base, across India.
Sachin Saxena (National Collection Manager of TCHFL) said: “At TCHFL, we had been looking for an ethical and transparent platform for the disposal of our housing properties. Since, Shriram Automall and its organised bidding platforms maintain complete transparency at every step of a transaction, with this association, we intend to work closely with SAMIL and create the widest bidding platform through which people can acquire a dream home of their choice.”
Tata Capital Housing Finance Limited (TCHFL), is a wholly-owned subsidiary of Tata Capital Limited (TCL), and is registered with National Housing Bank (NHB) to carry on housing finance activities. The Company offers a range of Housing Loans and Loans against Property to various segments of society including salaried individuals, self employed individuals, self employed professionals, non-individual entities, etc. and has been focusing on business opportunities available within the Tata ecosystem. Apart from Housing Loans and Loans against Property to the retail segment, TCHFL also provides project finance loans to developers. The Company intends to keep growing its business at a healthy rate, with Rural and Affordable Housing Finance, as one of its focus areas.
Shriram Automall India (SAMIL), one-of-its kind facility, is a wholly owned subsidiary of Shriram Transport Finance Company (STFC). It is India’s first ever service provider that offers various well organised and transparent bidding platforms, including physical, online, one stop classified and negotiated deals, for acquisition and disposal of pre-owned commercial vehicles, construction and industrial equipment, tractors and agricultural equipment, buses, passenger vehicles, three wheelers and two wheelers. The company also provides various allied services, including New Look Refurbishment services, valuation, parking and finance (through STFC). It has successfully launched more than 100 bidding locations, including over 45 well-structured Automalls and nearly 70 strategic parking locations, across India. The company has been awarded ISO 9001:2008 certification for its Quality Management System and rated AA from CRISIL.