IIFL Home Finance Ltd. (IIFL HFL) focusses on expansion of green affordable housing in Pune, Maharashtra

IIFL Home Finance Ltd. (IIFL HFL) focusses on expansion of green affordable housing in Pune, Maharashtra

• IIFL HFL has disbursed more than Rs 7,050 crores of total home loans in Maharashtra, benefiting more than 34,200 households

• IIFL HFL has facilitated Credit Linked Subsidy of more than Rs 343 Cr to over 13,000 households under PMAY (U)

• IIFL HFL has more than 30 branches across Maharashtra

• Through the Kutumb programme, IIFL HFL encourages the implementation of green- certified housing standards in the affordable housing segment

• At the occasion of the launch of the 13^th chapter of Kutumb, IIFL HFL aims to stimulate exchange of ideas and to raise knowledge about the benefits of climate risk adaptation and risk mitigation

Pune: 18th November 2022: IIFL HFL, India’s fastest growing digital first home finance company, launched the 13^th chapter of Kutumb in Pune. Kutumb is IIFL HFL’s flagship programme to provide green and sustainable housing to the economically weaker section and lower income groups. This is the seventh chapter that IIFL HFL has launched in association with the Asian Development Bank (ADB).

Kutumb endeavours to promote green, sustainable, future-ready and affordable housing by actively collaborating and consulting with developers, architects and rating agencies. The association explores understanding of green designs, rating and finance choices to allow people from middle and lower income groups access to environmentally-friendly dwellings. It is part of a broader attempt to promote green, affordable, and sustainable housing in India. In the past three years, this is the second time IIFL HFL is organising Kutumb in Pune.

IIFL HFL organised Kutumb on November 18th, 2022 titled ‘Expansion of Green Affordable Housing’ in Pune on the occasion of the chapter’s launch. The event focused on addressing subjects such as population demography, urbanisation, and the need for green, affordable, and climate-resilient housing, particularly in the light of Maharashtra’s vernacular architecture and Pune’s changing housing regulations.

The participants and speakers dwelled on the challenges of uneven distribution of urbanisation and lack of consistent supply of housing projects for the low-income community. Irrespective of the demand, flooding, and an increase in the run-off volumes because of the increased build-up area were also addressed during the event.

The event was graced by many dignitaries, including Monu Ratra (ED & CEO, IIFL Home Finance Ltd), Jaiprakash Shroff (Chairman, IGBC Pune Chapter & Managing Director & Chairman, Shroff Group), Ashok B. Lall (Principal, Ashok B. Lall Architects, New Delhi), Priya Sunder (Senior Investment Officer, Asian Development Bank), Neha Kumar (India Programme Manager, Climate Bonds Initiative), Poorva Keskar (Director, VK:e environmental) and Rupesh Agarwal (MD, Sara Group).

Speaking at the event, Monu Ratra (ED and CEO, IIFL HFL) said, “Maharashtra is one of the pioneers in including green and sustainable housing as a component of climate action. By financing and facilitating the creation of green dwellings for the economically weaker sections, Kutumb seeks to make these sections the beneficiaries of a broader climate action movement. The 13^th chapter of Kutumb in Pune will carry the programme’s mission forward by bringing in developers, policymakers, and all other relevant institutions to deliberate on the need for green housing and to find ways to overcome the challenges in popularising it.”

Maharashtra is one of the top states with the highest number of green structures. The Government of Maharashtra has been a pioneer in climate action. It released its first Climate Action Plan (MCAP) in March 2022 where it pledged to achieve net zero emissions by 2050. The Pune region is at the forefront of the state’s mission and boasts of 107 green initiatives.

The event was also live streamed on YouTube and later available as recording on the same platform. Click here for the event link: https://youtu.be/3q2kJur4SJY

To know more about Kutumb, https://www.iiflhomeloans.com/kutumb

For news and updates, visit https://www.iifl.com/home-loans and follow us on twitter at https://twitter.com/IIFLHomeLoan

For media queries, write to corpcom.hfc@iifl.com

About IIFL HFL

IIFL Home Finance Limited (IIFL HFL) is a subsidiary of IIFL Finance Limited. It is one of India’s leading housing finance companies and is a preferred choice for affordable home loan requirements. As of 31st March 2022, the AUM stood at Rs 23,617 crore of which home loan is 74% of the total with an average ticket size of Rs 16 lakh. The Return on Assets (ROA) for the period is at 3.5%. 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.