Aditya Birla Housing Finance Partners with National Housing Bank to Realise the PMAY Vision of 'Housing for All'

NewsVoir
Mumbai (Maharashtra) [India], December 18: 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.
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."
Aditya Birla Housing Finance Limited ("ABHFL"), a subsidiary of Aditya Birla Capital Limited is a fast-growing housing finance company ("HFC") in India. ABHFL is registered with the National Housing Board (NHB) as a non-deposit accepting housing finance company and commenced operations in October 2014.As of September 30, 2024, ABHFL manages assets under management of over Rs. 23,236 Crore. ABHFL has significantly expanded its footprint to 150 branches as of September 30, 2024. This is reflected in its long-term credit rating of AAA (Stable) by CRISIL, ICRA & India Ratings, and short-term credit rating of A1+ by CRISIL, ICRA & India Ratings.
Aditya Birla Capital Limited ("ABCL") is a registered Core Investment Company ("CIC') and the holding company of the financial services businesses. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 55,000 employees, the businesses of ABCL have a nationwide reach with over 1,470 branches and more than 200,000 agents/channel partners along with several bank partners. As of September 30, 2024, Aditya Birla Capital Limited manages aggregate assets under management of over Rs. 5.0 Lakh Crore with a consolidated lending book of Rs 1.38 Lakh Crore through its subsidiaries/JVs.
Aditya Birla Capital Limited is a part of the US$66 billion global conglomerate Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 187,000 employees belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group's businesses have grown into global powerhouses in a wide range of sectors - from metals to cement, fashion to financial services and textiles to trading. Today, over 50% of the Group's revenues flow from overseas operations that span over 40 countries in North and South America, Africa, Asia, and Europe.
For more information, visit www.adityabirlacapital.com.
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