Nivara is headquartered in Bengaluru with an initial scope of operations in the state of Karnataka before embarking onto its national footprint.
"Nivara" - A word made up of the Sanskrit verb " नि + वृ " (Ni + Vru), means to cover, shelter, haven etc.
Housing has come a long way from primitive cave dwellings in the Stone Age to modern day high rises; but the basic function - providing a safe haven, a nest, a cocoon - to rest and to grow - remains the same. While the concept of housing has not changed from time immemorial, what can bring in a change is the way we provide access to finance to those in need of shelter.
India has seen one of the most severe housing shortages across the globe despite the robust growth in the housing finance sector in the past couple of decades. However, the growth has predominantly been restricted to the affluent sectors of the society and thus there exists a large window of opportunity in the informal (low income) sector towards affordable housing segments. According to a study by KPMG 2014, India needs to develop 110 million housing units including the current shortage to meet the government’s vision of ‘Housing for All by 2022’. It is estimated that 50% of this demand is from urban affordable housing towards the LIG and MIG segments of households. Nivara looks forward to meet this demand by participating in this grand vision.
One of the major challenges faced by the lower income households is the lack of financing options to purchase their dream homes - either due to the lack of documented income or due to the lack of properly established income assessment methods.Nivara aims to bridge this gap by providing organized home loan solutions to the unorganized sector through innovative credit delivery mechanism. Nivara provides home loans for purchase of flats/apartments, construction of homes, home improvements and home extensions in addition to loans against property for personal and business consumption.