IIFL Home Finance targets Rs 7,200 crore home loans with AfDB in Telangana, Andhra by 2025, Real Estate News, ET RealEstate

NEW DELHI: IIFL Home Finance, in association with the Asian Development Bank, will continue to promote green affordable housing in Andhra Pradesh and Telangana, targeting home loans worth Rs 7,200 crore by 2025. The move aims to raise awareness about building climate-resilient housing that also saves cost and energy, IIFL Home Finance said in a statement on Friday.

The company said that with a total disbursement of Rs 2,448 crore in these two states, it has benefited over 17,000 households as of March 31, 2022.

The digital real estate finance company organized the 9th chapter of its flagship event Kutumb; ‘Andhra Pradesh & Telangana – Urgent Need for Affordable Green Housing’ — the 3rd event in collaboration with the Asian Development Bank (ADB).

Kutumb is a knowledge ecosystem conceptualized by IIFL Home Finance to promote affordable green housing in India to better understand green design, rating and financing options available.

With over 85 branches in Andhra Pradesh and Telangana, IIFL Home Finance has disbursed a total loan of over Rs 2,448 crore in these two states till March 31, 2022 (over Rs 1,491 crore in Telangana and more than Rs 956 crore in Andhra Pradesh).

“With our mission, in line with the government’s mission of ‘housing for all’ in all parts of Andhra Pradesh and Telangana, IIFL Home Finance intends to expand into Tier 3 and Tier 4 markets”, did he declare.

The company said it aims to target over Rs 7,200 crore in home loan disbursements by 2025 in Andhra Pradesh and Telangana (over Rs 4,320 in Andhra Pradesh and Rs 2,880 in the Telangana).

The company has financed over 645 beneficiary led construction (BLC) units with a loan disbursement of over Rs 12 crore in Andhra Pradesh.

BLC is a center-sponsored scheme to provide aid of up to Rs 1.5 lakh per house to eligible families belonging to economically weaker sections to build a new house or improve existing houses on their own.

Monu Ratra, ED and CEO, IIFL Home Finance, said, “At IIFL Home Finance, we believe we owe affordable housing customers more than just financial assistance, which is to provide them with sustainable and affordable housing. ecologically healthier.

“As a continuation of the same company, we have Kutumb, a knowledge ecosystem that will spark a sustainable housing revolution.”