Affordable Housing: Indias Next Powerhouse for Real Estate

Jul 07, 2017 9:15 IST 2641 views

Written by Sundeep Bhatia

Sundeep Bhatia has 16 years of in-depth experience in business development, sales & marketing, retail assets (mortgages-home loans and loan against property). He maintains key relationships with Government Authorities for affordable housing projects.

India is witnessing urbanization in an unprecedented scale and has been projected to grow at 2-2.5% CAGR between 2015 and 2021. If the urbanization will grow at the same trend, urban areas are going to comprise 40% of the Indian population (Source: Elite Wealth).

The growing population is a challenging task and to counter the situation, Central government has launched, “Pradhan Mantri Awas yojana-Housing for All (Urban)” where our honorable Prime Minister envisioned a pucca house for all Indian residents.Under PMAY Urban, 20 lakh houses have been approved for construction in 4720 cities (Source: Elite Wealth)

Being a leading housing finance company of India, we, ‘IIFL Home Loans’ believe in government’s constructive initiative towards affordable housing. We want to be the preferred partner of all government initiated affordable housing schemes.To bring a meaningful change in the lives of people, we maintain bonhomie with Urban Local Bodies, Housing Bodies, Municipal Councils and Awas Vikas Authorities. We have signed Memorandum of Understanding (MoU) with many prominent housing bodies like Andhra Pradesh, NTR Housing Scheme to name a few. Under Pradhan Mantri Awas Yojana-Credit Linked Subsidy Scheme, we are helping home loan applicants avail subsidy from the central government.

Eligibility Criteria & Subsidy benefit Under CLSS Scheme of PMAY


Annual Household

Interest Subsidy
on home loans

Maximum Subsidy

EWSUpto Rs 3 lac6.5%2.67 lacs*
LIGRs 3 lac-Rs 6 lac6.5%2.67 lacs*
MIG IRs 6 lac- Rs 12 lac4%2.35 lacs*
MIG IIRs 12 lac-Rs 18 lac3%2.30 lacs*

In a leg up towards affordable housing scheme, we have launched, ‘Swaraj Home Loans’ that caters to the requirements of first time home buyers who may or may not be supported by formal income documentation. Indian nationals, with basic identity documents like Aadhaar Card & PAN Card are eligible to apply for this home loan product. We are persistently empowering people make their housing dream come true.


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