IIFL Home Finance Ltd. (IIFL HFL) provides home loans to better the living conditions of the Economically Weaker Section (EWS) and Lower Income Group (LIG) in Delhi NCR

Delhi, 16th August 2023: Home Finance Ltd., one of India’s fastest-growing digital first home finance company, is geared up to provide housing access in alignment with affordable government schemes. Through this campaign, IIFL HFL is making a significant stride in alignment with the Governments’ mission of ‘Housing for All’. Also, we are providing hassle free loans to the customers with informal income documents or who are currently not being funded by any other lenders in the market. Our customer profile includes professions like daily wage workers, auto/cab drivers, hawkers. The unique selling proposition (USP) of this campaign lies in the application fees, which have been thoughtfully reduced to 1,000 INR from the standard 3,000 INR and also the one-day sanction process. These initiatives are meticulously designed to address the housing needs of the Economically Weaker Section (EWS) and Lower Income Group (LIG) in Delhi NCR.

The scheme introduces affordable housing options in sought-after locations such as Rohini, Narela, and Ashok Vihar. This strategic move aims to alleviate the financial burden on prospective homebuyers from the EWS and LIG segment, making the dream of owning a home more accessible than ever before.

We have also collaborated with the authoritties in their special scheme of providing properties constructed under In Situ Rehabilitation scheme - Kalkaji wherein the authority is allotting the flat to previously slum residents.

In addition to support the housing needs of the Economically Weaker Section (EWS) and Lower Income Group (LIG), IIFL HFL has also launched a campaign with their brand ambassador, actor Tamannaah Bhatia titled ‘Sapnon Ko Sach Karne Ka Seedha Rasta’. The campaign is aimed at consumers who are unbanked, underbanked, living in rented houses and aspiring to buy a home. It communicates that home buyers can obtain IIFL HFL’s loans in a seamless manner.

Speaking about the upcoming campaigns, Praveen Khullar, Zonal Head (North), IIFL Home Finance Limited, said, "At IIFL HFL, we are committed to making housing dreams come true for the Economically Weaker Section and Lower Income Group. We firmly believe in empowering these deserving segments of society by extending much-needed financial support through customized loan solutions, thus promoting financial inclusion and social progress. This will help to redefine affordable housing for the masses in Delhi NCR."

As of March 31st, 2023, it has fulfilled the home ownership dream of nearly 1 lakh customers in the informal income segment and has served over 213,700 first time homeowners. Also, IIFL HFL has facilitated subsidy of over Rs. 1,750 cr to more than 73,000 first time homeowners, CLSS-PMAY (U) beneficiaries, aligning to the Government of India’s mission of ‘Housing for All’.

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About IIFL Home Finance Limited:

IIFL Home Finance Limited (IIFL HFL) is a subsidiary of IIFL Finance Limited, with 79.59% shareholding, while Abu Dhabi Investment Authority acquired 20.41% stake in the company in 2022. As of 31st March 2023, the AUM stood at Rs 28512 crores of which home loan is 76 % of the total with an average ticket size of Rs 14 lakh. The Return on Assets (ROA) for the period is at 4.0 %. Through affordable home loans, IIFL HFL makes people’s aspirations of owning a home a reality, while emphasizing on supporting green buildings and projects that help society achieve inclusive sustainable development. The objective is to fulfil 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 facilitate a seamless customer experience, 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.