Signs of boom in affordable housing

Surge in number of entities to establish HFCs, targeting customers to avail of interest subvention

National Housing Bank (NHB), the apex financial institution for the segment, has got six applications in the past six months from entities for starting a new housing finance company. Those applying include the Piramal Group, JM Financial and Hero Group. This is in addition to 11 approvals that it gave in the past 12 months. 
 

One more it received last year is under consideration. What is interestingly is that most of these newcomers are targeting home loans of Rs 10-15 lakh. Clearly indicating an impending boom in the affordable housing segment.

“In the past three to six months, we have seen greater