NEW DELHI: IIFL Home Finance Ltd, a subsidiary of IIFL Finance Ltd, on Wednesday said it has facilitated over 50,000 households under the Credit Linked Subsidy Scheme (CLSS).
The company said it has been able to disburse subsidy of over ₹1,200 crore to households since the launch of the scheme in June 2015 .
In-line with government’s commitment of ‘Housing for All’, the mortgage lender provides affordable home loans to economically weaker section or low-income families. Under CLSS-PMAY (U), borrowers are eligible for interest subsidy on home loans provided they fulfil the eligibility criteria. The scheme for EWS/LIG is valid up to 31 March 2022.
Monu Ratra, managing director and chief executive of IIFL Home Finance, said, “Pandemic affected the real estate and housing finance industry, but we have seen a steady demand for housing even during these difficult times and it is certainly growing as the economy is emerging out of Covid situation.”
Ratra added that the current budget announcement on the allotment of ₹48,000 crore for completion of 80 lakh houses this year under PMAY is beneficial for the sector.
“This will definitely further boost the affordable housing segment. We believe that housing in India will see a huge demand in future as the government is working towards supportive environment for affordable housing and the country is seeing increasing urbanisation with rising aspirations,” added Ratra.
