Chennai, Jan 21 (PTI) Sundaram Home Finance has inaugurated a new branch under the Emerging Business segment in Tambaram and has set a target to make disbursements of Rs 50 crore from the Chennai zone over the next 12 months, a top official said.

The company, a subsidiary of Sundaram Finance Ltd, under the Emerging Business offers loans to small businesses and provides affordable housing finance solutions.

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"The Tambaram real estate landscape is currently experiencing significant activity driven by rapid urbanisation, combination of residential and commercial zones, infrastructure development and value for money," said Sundaram Home Finance MD D Lakshminarayanan in a company statement on Tuesday.

The city-headquartered company expects the Chennai zone to register disbursements in the Emerging Business segment of around Rs 50 crore over the next 12 months. The new branch would target customers of Selaiyur, Mudichur, Perungalathur, Manimangalam, Urapakkam, Guduvancherry among other neighbouring locations.

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"Proximity to the highway, being close to transport facilities and the initiatives to be undertaken by the government to enhance road connectivity, public transportation and basic amenities have turned it (Tambaram) into an attractive destination for homebuyers in the affordable housing segment," he said.

Under its expansion plan, Sundaram Home Finance established new branches in Pollachi, Tiruchirappalli and Thanjavur on January 20, under the emerging business segment.

Sundaram Home Finance employs around 300 people under the segment, the company said.

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