The Partnership is to realize the PMAY Vision of ‘Housing for All’
FinTech BizNews Service
Mumbai, 18 December, 2024: Aditya Birla Housing Finance Limited (“ABHFL”), a wholly owned subsidiary of Aditya Birla Capital Limited, India’s leading, diversified financial services company has signed a Memorandum of Understanding (MoU) with National Housing Bank (“NHB”) to actively contribute to the Pradhan Mantri Awas Yojna vision of ‘Housing for All’. The partnership will offer customized housing finance solutions to economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG), across the country.
Under the new initiative, Aditya Birla Housing Finance has introduced home loan options of up to Rs 25 Lakh for families earning Rs 3 Lakh annually under the EWS category, Rs 6 Lakh for the LIG category, and Rs 9 Lakh for the MIG category. The initiative supports homes with carpet area of up to 120 square meters. Further, customers can avail PMAY subsidy benefits of up to Rs 1.80 Lakh payable in 5 yearly instalments to help significantly reduce the financial burden of homeownership.
These solutions have been tailored to benefit individuals such as small-business owners, vendors, self-employed professionals, as well as salaried customers, with special emphasis on those living in remote and underserved regions.
Mr. Pankaj Gadgil, MD & CEO of Aditya Birla Housing Finance Ltd., said, “The Indian housing market is brimming with robust growth potential, driven by the rising aspirations of young Indians, and government initiatives like the Pradhan Mantri Awas Yojana. In line with PMAY’s ‘Housing for All’ vision, we have introduced our ‘Happy Home Loan Journey’, a seamless process for customers to avail home loans with ease. By prioritizing affordability, accessibility, and inclusive growth, we aim to empower communities and make the journey to homeownership seamless and hassle-free, helping more Indians turn their dream of owning a home into reality.”
