Aadhar Housing Finance disbursed over Rs 300 crore loans in Madhya Pradesh

Bhopal: Aadhar Housing Finance, a company jointly set up by DHFL and International Finance Corporation (IFC), has disbursed loans of over Rs 300 crore to lower income groups in Madhya Pradesh.

"We have disbursed over Rs 300 crore to lower income consumer segments (both salaried and self-employed individuals with monthly incomes ranging between Rs 5,000 and Rs 25,000) to build houses," Aadhar Chief Executive Officer Deo Shankar Tripathi on February 18 told reporters here.

He said that Aadhar since its inspection in 2011 in the state has processed more than 14,000 home loan applications and helped close to 6,000 families buy a house of their own in the state. Tripathi said the state has a housing shortage of almost 13 lakh units and Aadhar was getting tremendous response in the state. He said his company reaches out exclusively to a customer segment that has a limited access to any form of formal lending and offers home loans upto Rs 12 lakh only.