Delhi, 14th December, 2021: ADB, in collaboration with IIFL HFL organised Kutumb, an initiative towards Green Affordable Housing at IHC, Delhi on December 14th, 2021, which is a knowledge sharing platform fostering green, affordable, and sustainable building development in India. With a vision of sustainable living for everyone, it is an impetus to institute green technology and environment friendly sustainable living that focuses on the needs, efforts, and initiatives to promote sustainable and energy efficient real estate development in the affordable sector.
Advocating the Government’s vision of "Housing for All", the 7th chapter of Kutumb was aimed at discussing and disseminating knowledge on "Climate Resilient & Green Affordable Housing in India" which focused on affordable, low-carbon and resilient homes. Kutumb witnessed over 150 registrations and was attended by over 100 developers, DFI's, and experts.
At the occasion, Mr. Monu Ratra – CEO & ED at IIFL HFL said, "We are venturing into 2022 with likely lesser impact of Covid – 19. The pandemic however has brought a change of mindset amongst the builders and homeowners. People are becoming increasingly keen to adopt a sustainable, healthy lifestyle and way of life. Supporting the government’s initiatives, ADB and IIFL HFL have been putting all their efforts to build a sustainable and affordable housing in India through its initiative (Kutumb). “Building climate-resilient and sustainable communities begins with each green home, particularly for lower income groups that are highly vulnerable to climate change impacts. IIFL is our partner in broadening the scope of green affordable housing in India.” - Susan Olsen, Senior Investment Specialist for South Asia, ADB*
The event witnessed discussions and deliberations between industry experts such as S. K. Hota (MD, National Housing Bank), Monu Ratra (ED & CEO, IIFL Home Finance Ltd.), Priya Sunder (Senior Investment Officer, Asian Development Bank), Nirmal Jain (Founder & Chairman, IIFL Group), Diane Jegam (Directrice Régionale PROPARCO Asie du Sud chez Proparco), Ar. Ashok B Lall (Principal Architect, Ashok B. Lall Architects), Mohua Mukherjee (Economist & Green Finance Professional, Independent Director, IIFL Home Finance Ltd.), Dr. Sejal Patel (Professor & Chair, Faculty of Planning, CEPT), Ravi Aggarwal (Co-founder & MD, Signature Global Group of Companies), Saswat Bandyopadhyay (Project Director, CEPT) The panel was moderated by Mr. Monu Ratra (ED & CEO at IIFL Home Finance Ltd.) and Mr. Saswat Bandyopadhyay, and focused on the subjects "Sustainable Finance in Affordable Housing" and "Importance of Climate Resilience in Affordable Housing".
About IIFL Home Finance Limited:
Incorporated in 2006 and registered in 2009 with National Housing Bank (NHB), IIFL Home Finance Limited is a wholly-owned subsidiary of IIFL Finance Limited. The Company is one of India’s leading housing finance companies and is a preferred choice for affordable home loan requirements. Through their affordable home loans, IIFL Home Finance makes people's aspirations of owning a home a reality. As a technology-driven housing finance player, we endeavor to make our customer experience as seamless as possible. We have made the entire life cycle of our housing loans i.e., from origination to closure, completely digitized. We have state-of-the-art IT infrastructure which has helped in reducing costs, real-time analysis of customer data, improving our control and underwriting functions, while increasing customer reach and distribution capability.
We have adopted and implemented a social objective across all aspects of our business in line with the vision of ‘Complete Profitability’ and ESG framework with an increased focus on sustainable growth. We operate a financially inclusive customer-centric lending business and believe that our business model contributes significantly to the EWS and LIG segment. As of March 31, 2021, 74.90% of our live accounts were from customers who belonged to the EWS and LIG segment. Through the provision of loans for the purchase of homes to a customer segment that is not serviced by the mainstream financial services sector and our employment of personnel in rural and semi-urban locations across India, we are fulfilling an important social objective of economic upliftment for these segments of the Indian economy.
We offer customers a range of mortgage-related loan products, including
(i) housing loans, for purchase of ready built residential units, under-construction property by approved builders, self-construction, home improvement on the pre-owned property, and purchase of land for construction of residential property;
(ii) secured business loans, for primarily meeting working capital requirement, business use and purchase of commercial property; and
(iii) affordable housing project loans, to meet construction expenses of affordable housing projects of reputed developers.
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