New Delhi, Aug 3: Country's top corporate house Tatas is gearing up to enter the highly competitive but lucrative housing loan business with an aggressive business strategy of attractive interest rates and better service than other players in the market.

The group's newly incorporated financial services arm Tata Capital is soon expected to file its application with the National Housing Board to start the housing finance business.

"We expect to start our home loan business by March 2009 after getting all the necessary approvals," Tata Capital's Managing Director and CEO Praveen P Kadle said here while announcing ambitious plans to expand into businesses like housing loan, commodity and debt broking, private equity and wealth management.

Admitting being a late-entrant in these high growth businesses, including the lending operations, Kadle said that the company would look to make up for that with quality product offerings for its customers.

Tata Capital started its operations in September last year, but consumer finance business began in February 2008, Kadle said.

When asked whether Tata Capital would look at offering lower interest rates than those currently prevailing in the market, Kadle said that an attractive differential rate would certainly be a top priority to get a headway in the market.

While noting it would difficult to offer lower rates than the banks, Kadle said that the rates offered by Tata Capital would certainly be better than those by other non-banking finance companies (NBFCs).

Besides better rates, Tata Capital would also focus on offering a better product in terms of services as well as process and IT systems support, he noted.