Aadhar Housing Finance launched in Gujarat
Aadhar Housing Finance Ltd announced launch of its operations in Gujrat. The company will provide housing finance to the lower income segments whose monthly income is between Rs. 5,000 and Rs. 25,000. Currently, the company operates in seven states. Kapil Wadhawan, Chairman informs that it has begun operations in Gujrat with nine branches.
Adhar housing was established with the help of International Finance Corporation (IFC), a World Bank Group company. The underlying objective is to enable financial access to people who are eligible but have no access to formal sources of funding, especially in the low income segment.
Harshil Mehta, MD and CEO, points out that Gujrat is a high potential state for low-cost housing. The state recently announced an affordable housing policy by which 22 lakh new houses are proposed to be built in the next four years.
Source: Hindu Business Line
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