IIFL Home Finance Ltd. (IIFL HFL) facilitates over 50,000 households under CLSS

New Delhi, February 9, 2022: IIFL Home Finance Ltd. (IIFL HFL), a subsidiary of IIFL Finance Limited, today announced facilitating over 50,000 households under CLSS making it one of the leading FIs contributing towards PMAY-U. The company has been able to disburse subsidy of over Rs. 1200 crores to households since the launch of the scheme in June 2015.

IIFL HFL provides affordable home loans to EWS/LIG. Home loans have been disbursed to over 1,40,000 borrowers as on Sept 30^th, 2021.

Under CLSS-PMAY (U), borrowers are eligible for interest subsidy on home loans provided they fulfill the  eligibility criteria. The scheme for EWS/LIG is valid up to March 31, 2022.

Monu Ratra – MD & CEO at IIFL Home Finance said, “Pandemic affected the real estate and housing finance industry, but we have seen a steady demand for housing even during these difficult times and it is certainly growing as the economy is emerging out of Covid situation. The current scenario of people getting offered lowest-ever home loan interest rates, attractive property prices, tax benefits on home loans and increase in the work from home trend, are pushing demand for housing too. IIFL Home Finance’s faith and support towards the Government’s mission of PMAY is intact and it is our mission to provide affordable housing to all first time EWS/LIG home buyers.”

IIFL HFL is looking to expand in smaller towns with an aim to cross the Rs. 25,000 crore mark in terms of assets under management (AUM) by March 2022. It’s AUM was at Rs. 21,474 crore at the end of September with home loans contributing almost three-fourth of it.