Assotech Realty attracts eyeballs at mega realty conclave held in Noida

Leading real estate developer Assotech Realty Pvt Limited made its presence felt at an intensely engaging real estate knowledge sharing session organised at Noida. The real estate entity keenly participated in the event and articulated its views on the conclave theme ‘Commercial Real Estate, Affordable Housing and Luxury Housing – The Changing Dynamics’. Discerning participants and spectators at the event immensely gained from the perspective contributed by Assotech Realty to the pertinent issues confronting the real estate sector in India.

UP RERA Chairman Mr Rajive Kumar was the Chief Guest at the event attended by prominent developers, IPCs and DPCs from across the country in large numbers. Industry captain Mr Neeraj Gulati, MD, Assotech Realty while participating in the knowledge sharing session took a holistic view of the prevailing issues in real estate sector and suggested ways to pull the industry out of the long-prevailing slump.

Speaking on the occasion, Mr Neeraj Gulati, MD, Assotech Realty said, “Real Estate markets across the country have already started showing steady signs of revival leading to widespread optimism. Still due to the economic slowdown and long-prevailing slump the investors are shying away from investing in real estate. However, such a scenario has turned out to be a blessing in disguise for the end-users. They are conveniently being able to grab their choicest properties in the affordable luxury segment as the prices have almost bottomed out.” 

Mr Salil Kumar, Director, Assotech Realty added, “While the government has already come out to support the homebuyers in terms of offering more credit support for the purchase of homes, the consumption in real estate sector is set to rise. We are confident there will be a sure shot revival in demand in the coming months and the real estate sector will soon bounce back on a high growth trajectory. The only point of concern is that high borrowing cost has continued to pinch both the homebuyers as well as the developers.” 

Apart from the industry leaders, the event christened as R&M podium also witnessed thought leaders, industry stakeholders, besides keen viewers from all the segments of the industry.

IIFL Home Finance Ltd. concluded it’s fifth instalment of KUTUMB

Continuing with its ongoing mission of encouraging and facilitating the Green Affordable Housing in India, IIFL Home Finance Ltd (IIFL HFL) organized the 5thChapter of KUTUMB – An Initiative Towards Green Affordable Housing at Hyderabad on December 12, 2019. The theme for this chapter of Kutumb was Sustainable Today, Begins Tomorrow.

In the event held at N Convention, Madhapur, IIFL Home Finance succeeded to educate over 100 developers and about over 150 total participants about the benefits associated with green construction in the affordable housing segment in India. The panel of speakers included V Suresh (Chairman, IGBC), Ashok B Lall (Principal, Ashok B Lall Architects), Neha Kumar (India Programme Manager – Climate Bonds Initiative), Mr Chaitanya Rayapudi (Chairman & MD), Supra Builders and Monu Ratra (CEO & ED, IIFL Home Finance Ltd.).

The event started with a digital plantation of over 150 trees, which resonates with the theme ‘Sustainable Tomorrow, Begins Today!’. Speaking at the event, Monu Ratra said “Affordable Housing means how you are going to be able to give reach of finance to people, technology & innovation is our answer. Our Jhatpat Home Loan, a tablet-based model, helps deliver this in under 1 hr. We have identified 10 of the 17 Sustainable Development Goals, as defined by the United Nations, and are working for & towards them. Everyone must identify these goals for their organization”. 

This was followed by sessions from leading industry experts sharing their views on green and sustainable living techniques. Ashok B Lall, a pioneer in sustainable architecture, says, “In a four-storey building if you plant solar energy on the rooftop, it is sufficient to meet the energy demand for the entire building. Middle-level developer in a growing city is the biggest housing provider and their role is most significant. They make homes in bulk. We can do the ultimate good of green living because there is an opportunity of collective green. ”

This was followed by Mr V Suresh speaking on the subject, stating “we have enabled 700 crores Sq ft of green building. By 75th independence year of India, we will have enabled 100 crores Sq ft green building.”.

Ms Neha Kumar spoke about various elements responsible for such immense climate change globally. She addressed the audience and said, “Climate change is not just an environmental problem but an economic problem too.”

The event concluded with a live discussion with Founder & MD of Supra Developers, Mr Chaitanya who said “At Supra, our concept of living is ‘Uninterrupted Lifestyle.’ Thus, all our projects offer off-grid solutions to the end-consumer. We don’t do regular projects, we only do green buildings. We don’t do conventional projects at all. We have started doing solar-powered projects.”

IIFL HFL presented itself as a ‘Green Value Partner’, partnering with the developers from Conception to Certification of the Green Building Project. The company has established 8 such certified GVPs so far.

Maharashtra Government signs MoU with IIFL Home Finance Ltd.

IIFL Home Finance Ltd. (IIFL HFL), India’s leading housing finance company on Wednesday signed a Memorandum of Understanding (MoU) with the State Government of Maharashtra. This MoUfocuses on extending the benefits of Credit Linked Subsidy Schemes (CLSS) under PMAY across state of Maharashtra to home buyers belonging to affordable housing segment.

Pic-IIFL Signs MoU with Maha Govt

The MoU was signed in the presence of Sanjay Kumar (Addn. Chief Secretary, Housing Deptt, Govt. of Maharashtra), Hemkumar Gopalakrishnan (Regional Manager, NHB), Monu Ratra(CEO,IIFL HFL), Ajay Jaiswal (IIFL HFL) and Sundeep Bhatia (IIFL HFL).Through this MoU, Housing Department of Government of Maharashtra will make provisions and facilitate permissions for IIFL HFL to educate customers and enlighten them about the benefits of PMAY. Under the agreed terms and conditions, IIFL HFL will be able to conduct on the spot counseling for home buyers visiting its branches, give presentations to defined audiences and proactively call potential customers tofacilitate home loans helping them avail CLSS subsidy benefits.

Monu Ratra, CEO, IIFL Home Finance Ltd. said “We are committed to support Hon’ble Prime Minister’s vision of ‘Housing for All by 2022’. We thank the Government of Maharashtra for giving us this opportunity to educate and enable customers in availing CLSS subsidy under PMAY. Witha network of over 10 HFC and over 150 NBFC branches located across the state, this MoU with the Government would allow us to facilitate benefits of Pradhan Mantri Awas Yojana among the affordable housing segment of home buyers”

IIFL HFL has been one of the leaders in CLSS scheme working towards financial inclusion with customized product such as ‘Swaraj Home Loan’. For its continued support in helping beneficiary families avail benefits of CLSS Subsidy under PMAY, IIFL HFL has twice received the award for ‘Best Performing PLI under Credit Linked Subsidy Scheme for EWS/LIG under Pradhan Mantri Awas Yojana’ from Ministry of Housing and Urban Affairs.

The company was recently in news for touching 23,500+ beneficiary family mark in CLSS subsidy distribution under PMAY. In the state of Maharashtra alone, IIFL HFL has approved home loans of Rs. 1000+ crore under PMAY (Urban) CLSS scheme. Till date the company has supported more than 6800 beneficiary families in the State to avail CLSS subsidy amounting more than Rs. 160 crores under PMAY.

Across India, till the month ended January 31, 2019, IIFL HFL has approved home loans of up to Rs. 3300+ crores under PMAY (Urban) CLSS scheme to beneficiary families belonging to EWS/LIG/MIG category. More than 23500+ beneficiaries have been benefited by the subsidy scheme providing Rs. 535+ 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 23,500+ till Jan ’31, 2019.