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Asian Development Bank & IIFL Home Finance Ltd. (IIFL HFL) promotes green affordable housing in Andhra Pradesh and Telangana through the 9th chapter of ‘Kutumb’

Vijayawada | Published On 2022-05-13T11:51:10IST | Press Release | 1 min read
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 Asian Development Bank & IIFL Home Finance Ltd. (IIFL HFL) promotes green  affordable housing in Andhra Pradesh and Telangana through the 9th chapter of  ‘Kutumb’

●To promote & propagate green affordable housing and spread awareness about building climate resilient housing, that also saves cost and energy, in Andhra Pradesh and Telangana

●Over 17,000 households benefitted, as on March 31st 2022, with a total loan disbursement of over Rs 2,448 cr in both the states (Over Rs1,491 cr in Telangana and over Rs 956 cr in Andhra Pradesh)

●Target is to achieve over Rs 7,200 cr home loan business by 2025 in Andhra Pradesh and Telangana (Over Rs 4,320 in Andhra Pradesh and Rs 2,880 in Telangana)

●Over 645 Beneficiary Led Housing Construction (BLC) units funded by IIFL HFL, with over Rs 12 cr loan disbursement in Andhra Pradesh

●Over 2,900 households benefitted with Credit Linked Subsidy (under PMAY) of over Rs 66 cr

●IIFL HFL has 87 branches till date in the states of Andhra Pradesh and Telangana (56 branches in AP & 31 in Telangana) and plans to furtherexpand their physical reach in tier 2 & 3 markets by having 120 total branches by March 2023.

Vijayawada/Hyderabad, 13th May 2022: IIFL Home Finance Limited (IIFL HFL), India’s fastest growing digital first home finance company, organized the 9th chapter of its flagship event Kutumb; ‘Andhra Pradesh & Telangana – Urgent need for Green Affordable Housing’ which is the 3rd event in collaboration with Asian Development Bank (ADB). ‘Kutumb’ is a knowledge ecosystem conceptualized by IIFL Home Loan, to promote Green Affordable Housing in India, for better understanding of green design, rating and financing options available.

The event took place in hybrid model at Hyderabad, Vijayawada, Vellore and Rajahmundry, all locations connected virtually. The speakers included Priya Sunder (Senior Investment Officer, ADB), renowned sustainable architect Ashok B Lall (Principal Architect, Ashok B Lall Architects), S Karthikeyan (Principal Counselor, CII-IGBC), Medapati Vishnuvardhan Reddy (CEO &Director, Tranquillo Holdings and Projects Pvt. Ltd.). The event witnessed over 100 attendees.

With over 85 branches in the sates of Andhra Pradesh and Telangana, IIFL HFL has disbursed a total loan of over Rs 2,448 cr in the state of Andhra Pradesh and Telangana, till March 31, 2022 (Over Rs 1,491 cr in Telangana and over Rs 956 cr in Andhra Pradesh). With our mission, in line with government’s mission of ‘Housing for All’ in all parts of Andhra Pradesh and Telangana, IIFL HFL intends to expand itself in tier 3 and 4 markets. The aim is to target over Rs 7,200 cr home loan disbursements by 2025 in Andhra Pradesh and Telangana (Over Rs 4,320 in Andhra Pradesh and Rs 2,880 in Telangana). The company has funded over 645 Beneficiary-led Construction (BLC) units with over Rs 12 cr loan disbursement in Andhra Pradesh. BLC is a Centrally Sponsored Scheme, to provide assistance of up to Rs 1.5 lakh per house to individual eligible families belonging to EWS categories to either construct new house or to enhance existing houses on their own.

Speaking at the event Monu Ratra, ED and CEO, IIFL HFL said, “We at IIFL Home Loan believe that we owe to affordable housing customers more, beyond just financial assistance, which is to provide them habitation which is sustainable and ecologically healthier. In continuation of same endeavour we have ‘Kutumb’, a knowledge ecosystem which shall spark a sustainable housing revolution”.

The event was also live streamed on YouTube and later available as recording on the same platform. Click here for the event link: https://www.youtube.com/watch?v=6GGUSIiQP44

About IIFL Home Finance Limited

IIFL Home Finance Limited (IIFL HFL) is a wholly-owned subsidiary of IIFL Finance Limited. It is one of India’s leading housing finance companies and is a preferred choice for affordable home loan requirements. As of 31st March 2022, the AUM stood at Rs 23,617 crore of which home loan is 74% of the total with an average ticket size of Rs 16 lakh. The Return on Assets (ROA) for the period is at 3.5%.

Through affordable home loans, IIFL HFL makes people's aspirations of owning a home a reality, while emphasizing on supporting green buildings and projects that help society achieve inclusive sustainable development. The objective is to fulfill economic upliftment for EWS/LIG segments of the country. The company has adopted asset light model by getting into Co-Lending arrangements that further helps to penetrate and expand in deeper markets of India. To make customer experience seamless the entire life cycle of housing loans is technology driven i.e., from origination to closure. The state-of-the-art IT infrastructure helps in reducing costs, real-time analysis of customer data, improving control and underwriting functions, while increasing customer reach and distribution capability.

To know more, https://www.iiflhomeloans.com/kutumb

For news and updates, visit https://www.iifl.com/home-loans and follow us on twitter at https://twitter.com/IIFLHomeLoan

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