IIFL Home Finance Ltd. felicitates PMAY CLSS beneficiary families in Mumbai
IIFL Home Finance Ltd. (IIFL HFL), India’s leading housing finance company was recently in the news for closing in on touching the 20,000 beneficiaries mark in terms of CLSS subsidy disbursed under Pradhan MantriAwasYojana. To celebrate this achievement, the company decided to felicitate the beneficiary families at an event held in Eskay Resorts Banquet in Mumbai.
In line with Hon’ble Prime Minister NarendraModi’s vision of ‘Housing for All by 2022’, IIFL HFL is supporting the scheme in various parts of the country. IIFL HFL has earned the notable distinction in raising awareness and taking the benefits of this scheme to the first-time home buyers belonging to EWS (Economically Weaker Section), LIG (Low Income Group) and Middle Income Group (MIG) categories. In its efforts towards educating and supporting customers to avail the benefits of CLSS subsidy under Pradhan MantriAwasYojana, IIFL HFL has received immense support from the Ministry of Housing & Urban Affairs and National Housing Bank (NHB).
Present at the occasion were 70 beneficiary families who have availed Credit Linked Subsidy (CLSS) under Pradhan MantriAwasYojana with the support from IIFL HFL. The event was an emotional moment for many as the beneficiary families shared their stories of realizing their dream of owning a home. The chief guest at the occasion was Mr.KishorKumbhare, DGM, National Housing Bank (NHB) along with senior officials from IIFL HFL. Also present at the occasion was a prominent developer Mr. Sunil Shetty from Reliable Construction, which has supported PMAY CLSS subsidy scheme with its affordable housing units.
Mr.Sanjeev Srivastava, Chief Risk Officer, IIFL Home Finance Ltd. said, “We appreciate the government’s vision of ‘Housing for All’ by 2022 and feel proud to be associated with this noble thought in every possible way we can. CLSS subsidy scheme under PMAY has been well received by customers all over the country. We are close to touching 20,000 beneficiary mark under CLSS subsidy and the smiles on the faces of home buyers after they realize their dream of owning a home is what drives us more than anything”
IIFL HFL has been recognized as one of the ‘Best Performing PLI under PMAY CLSS for EWS/LIG’ by the Ministry of Housing and Urban Affairs for the second year in a row — for its outstanding contribution towards the Pradhan MantriAwasYojana’s Credit Linked Subsidy Scheme. In order to educate the customers and enlighten them about the benefits of PMAY, IIFL HFL regularly conducts on the spot counseling for customers visiting its branches, felicitates CLSS beneficiaries at events, gives presentations to defined audiences and proactively calls potential customers to educate them about the benefits of CLSS.
Till the month ended December 31, 2018, IIFL HFL has approved home loans of up to Rs. 2800+ crores under PMAY (Urban) CLSS scheme to beneficiary families belonging to EWS/LIG/MIG category. A total of 19800+ beneficiaries have been benefited by the subsidy scheme providing Rs. 450+ crores as subsidy under PMAY.
The average ticket size for loan amount disbursed to customers under this scheme is Rs. 14 lacs in case of EWS/LIG. IIFL HFL has made exceptional growth in terms of beneficiary numbers and CLSS subsidy disbursement under PMAY-Urban. Since the launch of the scheme in 2015, CLSS beneficiary numbers of IIFL HFL have grown from 65 in FY 2015-16 to 19,800+ till Dec’31, 2018.