IIFL Home Finance launches 6th Kutumb initiative to promote Green Affordable Housing in India

IIFL Home Finance Ltd, India's leading housing finance company has launched sixth edition of Kutumb – India's only initiative towards Green Affordable Housing, in association with Asian Development Bank, German Agency for International Cooperation, Climate Bond Initiative, International Finance Corporation, Green Building Council of India, and CDC - a UK sovereign fund.

Considering government's focus on affordable housing, IIFL Home Finance through Kutumb, aims to extend the mission of 'Housing for All' to 'Green Housing for All'.

The company through Kutumb, brings together industry experts and affordable housing developers by offering financial support as an incentive in inducing them to opt for sustainable development in affordable housing. In the past, IIFL Home Finance has successfully completed 5 Chapters of Kutumb across Ahmedabad, Indore, Pune, Bangalore, and Hyderabad.

The sixth edition of Kutumb is a series of webinars and podcasts, giving it a greater reach across geographies. This e-Kutumb is themed as 'Sustainable Affordable Housing for All: A New Paradigm amid Pandemic'. The first session was graced by Mr. Prashant Kapoor, Chief Industry Specialist, Green Building and Cities, IFC and renowned architect Mr. Ashok B Lall. The event was hosted by Mr. Monu Ratra, CEO, IIFL Home Finance Ltd.

"The Covid-19 pandemic has changed the mindset of builders and homeowners as sustainable healthy living takes center-stage. In this backdrop our efforts to build a sustainable and affordable housing initiative is reinforced and we look forward to take the idea to more people. Affordable green housing makes perfect business sense as well," said Mr Monu Ratra.

Drawing a parallel between other developing nations like  Jakarta, Mongolia, Philippines, and Columbia, Mr Prashant Kapoor said, "India needs a way to democratize green buildings and It will take a metrics-driven, scale-able standard to transform the market." He also added that the key emphasis on savings  through scalability is what will sell green homes and will make them affordable in India.

Talking about the design principles of building green and sustainable homes in India, Mr Ashok B Lall said, "If we devote 60% terrace area of a 4-storey building to install solar panels, it can meet the energy demand of all its residents. The height of the building has a direct correlation with its carbon emissions & is inversely proportionate to affordability".

IIFL Home Finance, which is a leader in affordable housing finance segment has seen business picking-up significantly since the lockdown even as the overall real estate sector is struggling with higher inventory and sluggish demand.