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IIFL Home Finance Ltd. (IIFL HFL), in collaboration with Asian Development Bank (ADB), launches 8th Chapter from the flagship 'Kutumb' series to promote green affordable housing in India

Ahmedabad | Published On 2022-04-05T11:51:10IST | Press Release | 1 min read
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 IIFL Home Finance Ltd. (IIFL HFL), in collaboration with Asian Development Bank  (ADB), launches 8th Chapter from the flagship 'Kutumb' series to promote green  affordable housing in India

●To promote green affordable housing in Gujarat also spread awareness about financing for same

●IIFL HFL disbursed maximum amount of subsidy in the region of Gujarat, amounting over Rs 300 cr

●Target is to achieve over Rs 5,000 cr home loan business in next 5 years within Gujarat

Ahmedabad, 5th April 2022: IIFL HFL, India’s fastest growing digital first home finance company, organised the 8th Chapter of its flagship event ‘Kutumb’, and 2nd in collaboration with Asian Development Bank (ADB). ‘Kutumb’ is an initiative by IIFL HFL to promote Green Affordable Housing in India. The event took place at YMCA on 5th April in the presence of Mr. Lochan Sehra, Municipal Commissioner, Ahmedabad Municipal Corporation; Mr. Yamal Vyas, Director, National Housing Bank; Ms. Priya Sunder, Senior Investment Officer, ADB; Mr. Sandeep Virmani, Director, Hunnarshala Foundation; Mr. Saswat Bandyopadhyay and Smruti Jukuras chief guests.

The 8th chapter of ‘Kutumb’, in Ahmedabad titled ‘Green Gujarat' is focused on affordable, low-carbon and resilient homes. This chapter is the first multicity Kutumb, simultaneously conducted in Ahmedabad, Bhuj and Surat, via hybrid model. The programme witnessed over 200 builder attendees, enhancing the reach to every corner of Gujarat on the subject.

The home finance company has disbursed maximum subsidy in the state of Gujarat amounting over Rs 300 cr to more than 12,400 beneficiaries. The aim is to target over Rs 5,000 crore home loans in next 5 years, within the region of Gujarat.

Speaking on the event Mr. Monu Ratra, ED and CEO, IIFL HFL said, “According to NAREDCO, Gujarat will need nearly 40 lakh houses in the next 5 years and 70% of these would have to be in the affordable housing segment. As an enabler of green affordable housing finance, IIFL Home Finance is encouraging people through its Kutumb initiative to get as many green homes as possible. This chapter of Kutumb is first multicity Kutumb, covering Ahmedabad, Surat and Bhuj, via hybrid model.”

The event was conducted in a panel discussion format supported by presentations. The panels focused on increasing awareness among various stakeholders about climate risk mitigation and to promote the adoption of green certified housing standard in the affordable housing segment. The home finance company has been focusing on easing the journey of the customer journey by digital intervention at various touch points.

In the series of Kutumb, the next event, 9th Chapter is likely to be scheduled in Hyderabad, where IIFL HFL and ADB aim to bring together the affordable housing developers, planners, architects, consultants and potential homebuyers on one forum and address subjects relevant to green affordable housing in the area.

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 December 2021, the AUM stood at Rs 22,207 crore of which home loan is 74% of the total with an average ticket size of Rs 17 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 emphasising 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 an 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

For media queries, write to corpcom.hfc@iifl.com

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