The focus will be on providing support under technical assistance programme to promote the green affordable housing ecosystem in India
- ADB signed a USD 68 million loan with IIFL HFL to boost green, affordable housing in India
- ‘Kutumb’ has played a significant role in helping IIFL Home Finance Ltd. serve more than 250,000 customers
- IIFL HFL has facilitated a credit-linked subsidy of more than Rs 1,746 crore to over 72,000 households under PMAY (U) as on 31st August 2023
- Engaging in a partnership with a Technical Assistance (TA) programme aimed at bolstering the eco-friendly construction ecosystem within India’s affordable housing sector
NEW DELHI, Dec. 4, 2023 /PRNewswire/ — IIFL Home Finance Ltd., India’s fastest-growing digital first home finance company, and Asian Development Bank (ADB) jointly hosted the 15th Chapter of ‘Kutumb’ event and 10th in series with ADB in Delhi, with a primary focus on fostering discussions centred on bolstering the green building ecosystem within India’s affordable housing sector. Moreover, their partnership through the Technical Assistance (TA) program is geared towards enhancing the sustainability of green construction practices within the affordable housing segment in India.
IIFL Home Finance Ltd. and the Asian Development Bank (ADB) joined forces for a Technical Assistance (TA) initiative named ‘Enabling the ecosystem to improve access to green affordable housing for women’. This program seamlessly integrates promotion, capacity building, and research and innovation, addressing key areas such as green building, affordable housing, and women’s housing access in India.
The Kutumb event focused on insights based on promoting and advancing Green Affordable Housing in India, aiming to create opportunities for accessible green housing for everyone. Previously, under the ADB initiative, the Kutumb event successfully took place in numerous metropolises like Kolkata, Bangalore, Ahmedabad, Hyderabad, and Pune. This marks the 10th collaboration between IIFL Home Finance Ltd. and the ADB for the Kutumb initiative, following nine successful editions. The earlier nine Kutumb events garnered an excellent response with over 1,500 participants, featuring a community of 900+ developers, and conducted 36+ expert sessions. The Kutumb event made a substantial impact, contributing significantly to the transformation from the mission of ‘Housing for All’ to ‘Green Housing for All’. Developers, policymakers, architects, academicians, green rating agencies, and financial institutions join forces in this collective vision. Through nurturing this collaborative ecosystem, IIFL Home Finance Ltd. actively contribute to ushering in transformative change and advancing the expansion of affordable green housing nationwide. This also played a pivotal role in raising awareness among the Economically Weaker Section (EWS) and Low-Income Group (LIG) categories in India through the “Resilient and Green Affordable Housing” project. Moreover, this event facilitated increased awareness within the developer community regarding affordable green housing, educating them about green design, rating systems, and available financing options.
At the event, Ajay Jaiswal, Chief Operating Officer, IIFL Home Finance Ltd. said, “The joint programme with ADB has made significant strides in understanding the landscape of cost-effective, environmentally friendly housing in India. We’re consolidating insights gleaned from different aspects of the program. The outcomes stemming from our efforts hold immense relevance, given the urgent requirement for affordable, eco-friendly housing in the country. Collaborating with the ADB and CEPT on this initiative has been instrumental in its success, and we’re grateful for their partnership.”
The event saw a stimulating discussion among various participants on related subjects ranging from sustainable design for mitigating climate emergencies to the landscape of green housing in India and how to drive green and affordable housing for women in India. The event was graced by many dignitaries, including Mr. Monu Ratra, ED and CEO IIFL Home Finance Ltd.; Mr. Takeo Konishi, Country Director, Asian Development Bank (ADB); Pradeep Ramakrishnan, General Manager, Department of Debt and Hybrid Securities (DDHS), Securities and Exchange board of India (SEBI); Neha Kumar, Head of South Asia Programme, Climate Bonds Initiative; Shounak Ray, Business Development Lead, International Finance Corporation; Ashok B Lall, Founder and Principal Architect, Ashok B Lall Architects; Shailesh Kumar Agrawal, ED, Building Materials & Technology Promotion Council (BMTPC), Ekta Mehra, Senior Sector Specialist, KFW; Gagan Sidhu, Director, CEEW Centre of Energy Finance; Mohua Mukherjee, Independent Director, IIFL Home Finance Ltd. and Mischa Lentz, Senior Urban Development Specialist (Finance & Investments), ADB
Kutumb is dedicated to advancing affordable, sustainable, and forward-looking housing by actively engaging with developers, architects, and rating agencies. The programme aims to integrate eco-friendly and cost-effective housing into the mainstream in India.
There’s a critical need for policies that emphasize the affordability of eco-friendly housing and the construction of green buildings. Kutumb is committed to convening key influencers to address existing gaps and foster convergence among different aspects and stakeholders within the eco-friendly housing movement.
The event was also live streamed on YouTube and later available as recording on the same platform. Click here for the event link: https://youtube.com/live/sbFYTd9hvMU?feature=share
To know more about Kutumb, https://www.iiflhomeloans.com/Kutumb
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About IIFL Home Finance Ltd.
IIFL Home Finance Limited, the largest affordable housing finance company which is a subsidiary of IIFL Finance Limited, with 79.59% shareholding, while Abu Dhabi Investment Authority acquired 20.41% stake in the company in 2022. As of 30th September 2023, the AUM stood at Rs 31,094 crore of which home loan is 77%. The Return on Assets (ROA) for the period is at 4.33%. Through affordable home loans, IIFL HFL makes people’s aspirations of owning a home a reality, while emphasizing on supporting green buildings and projects that help society achieve inclusive sustainable development. The objective is to fulfil economic upliftment for EWS/LIG segments of the country. The company has adopted an asset light model by getting into co-lending arrangements that further helps to penetrate and expand in deeper markets of India. To facilitate a seamless customer experience, the entire life cycle of housing loans is technology driven i.e., from origination to closure. The state-of-the-art IT infrastructure helps in reducing costs, real-time analysis of customer data, improving control and underwriting functions, while increasing customer reach and distribution capability.
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