IIFL Home Finance - Aligned to Government Initiatives

Pradhan Mantri Awas Yojana (Urban)- Government Initiative Driving Affordable Housing in India

PMAY(U), under the Government’s ‘Housing for All’ programme, was launched in 2014 to provide a house, with basic amenities, to all homeless households and households living in kutcha and dilapidated houses. At IIFL Home Finance, we work with the Central/State Governments and Housing Authorities to reach the country’s remotest areas, making home loans reasonable and easily accessible. Captured below are some of our initiatives and tie-ups:

  • Empanelled with the Rajiv Gandhi Rural Housing Corporation Limited, Karnataka state-level Nodal Agency for the PMAY(U) programme to issue home loans to beneficiaries of Affordable Housing in Partnership (AHP) projects across the state
  • Received assistance from the state governments of Andhra Pradesh, Haryana, Madhya Pradesh, Rajasthan, Gujarat, Tamil Nadu, and Uttarakhand in carrying out the Government’s aim of ‘Housing for All’ by supplying us with data on PMAY(U) beneficiaries as well as other information/documents
  • Among the leading housing finance companies appointed by the Corporations and Urban Local Bodies (ULBs) to support the mission of ‘Housing for All’
  • Bestowed with a certificate of appreciation from Nagpur Metropolitan Region Development Authority (NMRDA) for making maximum loan cases disbursed under PMAY(U)
  • Received a letter of appreciation from Slum Rehabilitation and Redevelopment Department, Pimpri Chinchwad Municipal Corporation, for financing the maximum housing loans disbursed under PMAY(U)

Our Collaborations under PMAY(U) Beneficiary Led Construction (BLC)

  • Enlisted by the Punjab State Urban Livelihood Mission (PSULM) to fund the PMAY(U) BLC recipients
  • Honoured by the Hon’ble Minister of Housing and the Hon’ble Chairman of the Andhra Pradesh Legislative Council for making a difference in home financing by disbursing loans to BLC component beneficiaries under the state’s PMAY(U) mission. We are also the only HFC to have agreed to fund a portion of the large BLC component under the State’s Navratanalu Pedalandariki Illu Scheme, which is expected to build about 30 lakh dwellings over the next four years
  • Collaborated with the Tamil Nadu Urban Habitat Development Board, the official state level nodal agency for PMAY(U) in Tamil Nadu, on various AHP projects aimed at funding the final consumer, with a concentration on the EWS and LIG categories. We also undertook loan financing for the BLC component and disbursed numerous cases in order to establish an overall balance and significant impact on Tamil Nadu’s PMAY(U) programme


BLC Units Funded by IIFL Home Finance

120.9+ million*

Disbursed Amount

*Since inception

Credit Linked Subsidy Scheme, PMAY (U)

  • Assisted over 55,700 households under the Credit Linked Subsidy Scheme (CLSS). Thereby, making us one of the leading Financial Institutions contributing to PMAY(U) scheme. Since the scheme’s inception in June 2015, the Company has facilitated over ` 13 billion in subsidies to families.’


Families benefited under CLSS

13+ billion

Disbursed in Subsidies

Other Collaborations

  • One of the preferred lenders to the Delhi Development Authority, a department of the Central Government