Aadhar Housing to expand operations in 4 more states
Aadhar is a low income segment focused housing finance company jointly set up by DHFL and International Finance Corporation
Apr 11, 2015
Source : Business Standard


New Delhi: Aadhar Housing Finance Limited (Aadhar) will expand its operations in four more states, including Maharashtra and Uttarakhand. 

Aadhar is a low income segment focused housing finance company jointly set up by DHFL and International Finance Corporation (IFC). 

"... Will expand operations to four more states, Maharashtra, Punjab, Haryana and Uttarakhand," it said in a release today. 

"These states have seen a rise in the demand for low income housing...Aadhar has also decided to consider loans up to 15 lakh as against the existing cap of 12 lakh home loans which will suit the need of many LIG customers in the newly expanded states," Aadhar CEO Deo Shankar Tripathi said. 

Aadhar currently operates through 62 branches in nine states Uttar Pradesh, Madhya Pradesh, Jharkhand, Chhattisgarh, Bihar, Orissa, West Bengal, Gujarat and Rajasthan. 

It plans to open 40 more branches by March 2016. 

"The expansion move to the new states rose from the increase in demand for low income housing and government commitment for housing for all, thus increase in demand for financial assistance in the EWS and Low Income groups," it said. 

Presently there is a housing requirement of 2 crore in urban India, out of which 95 per cent constitutes of the EWS and LIG segment. 

Aadhar aims to double its current loan book size to Rs 2,000 crore from Rs 1,000 crore by 2016 by reaching out to this untapped market, said the company. 

Also, for an added impetus it company also plans to increase its maximum loan ticket size to Rs 15 lakh from Rs 12 lakh. 

The average home loan ticket size of the company is as of now is Rs 6.40 lakh. 

Aadhar gives housing finance to lower income consumer segments, both salaried and self-employed individuals with monthly income ranging between Rs 5,000 to Rs 25,000.

Latest Realty News

Apr 11, 2015
PUNE: The standing committee of Pune Municipal Corporation (PMC) approved a proposal to provide a discount in premium charges for buildings that follow eco-housing norms
Apr 11, 2015
NAGPUR: The BJP-led ruling alliance at the Nagpur Municipal Corporation (NMC) stayed the steep hike on various types of charges applicable for sanctioning the plans of building and layout/plots
Apr 11, 2015
New Delhi: National Green Tribunal (NGT) issued directions to the governments of Delhi, Haryana and UP to stop any construction in NCR, which violates its rules or 2010 guidelines of the MOEF
Apr 11, 2015
New Delhi: Arun Jaitley defined GIFT city as a “role model” for the development of future smart cities in India
Apr 11, 2015
HYDERABAD: Real estate developers have welcomed the Union Cabinet’s approval of the Real Estate Regulatory and Development Bill
Apr 11, 2015
Mumbai: Stable rate of new office space addition; occupiers increasingly opting for bespoke solutions and committing to under construction projects
Apr 11, 2015
NOIDA: For thousands of buyers who invested in housing projects in Noida Extension, the past five years have been full of trepidation
Apr 11, 2015
MUMBAI: The country's largest housing finance company HDFC Limited has brought down its lending rate by 20 basis points with effect from April 13
Apr 11, 2015
MOHALI: Auction of the Greater Mohali Area Development Authority (GMADA) turned out to be a flop show as there was not even a single bidder for residential plots
Apr 10, 2015
Gurgaon: Both builders and homebuyers feel there is a lot to feel upbeat about the amended Real Estate Regulation and Development Bill 2013, but they also see a scope for more clarity

Latest Realty News Of State

Realty Talk's