HDFC's green housing retail loans cross Rs 14,000 cr across 310 buildings

The largest pureplay mortgage player HDFC, said its green housing retail loan book has crossed the Rs 14,000-crore-mark across 310 certified green buildings.

The largest pureplay mortgage player HDFC, which on Wednesday signed a pact with the Indian Green Building Council (IGBC), said its green housing retail loan book has crossed the Rs 14,000-crore-mark across 310 certified green buildings.

The mortgage lender further said as much as 75 per cent of its lease rental discounting portfolio has green ratings.

As of December 23, 2020, we have disbursed over 14,000 crore of retails loans to home buyers in 310 certified green building projects, HDFC told a webinar announcing the tie-up with the IGBC to promote green housing and create awareness about and promote financing of green buildings.

Addressing the gathering, Amrit Abhijat, the joint secretary in the Union housing & urban development ministry, expressed confidence that the initiative, along with specifically designed lending policies, will go a long way in promoting green housing.

S K Hota, managing director of NHB, underlined the need for promoting and popularising green housing among the low and middle income segments and called up on making adequate number of affordable green housing stocks.

Renu Sud Karnad, managing director of HDFC, said the lender is witnessing a huge growth in the housing sector on the back of historically lowest interest rates, stable property prices and lower stamp duty.

The government on its part is pushing green building by offering fast-track environmental clearance to green projects pre-certified/ provisionally certified by the IGBC.

That apart some states have also allowed additional FAR (floor area ratio) to green housing projects to the the tune of 1-10 per cent depending on the green rating of the project. Property tax rebate is also being given in a few states based on the green rating.

Today the IGBC has over 7 billion sqft of green building footprint, spread across various geographies across the country-- up from 20,000 sqft in 2003, two years after the council was formed. It offers 25 different rating programmes to suit variety of building types.