Aadhar Housing Finance Private Ltd., (Aadhar) announced the launch of its first branch in Howrah, West Bengal. This branch is located at 301, 3rd Floor, Krishna Enclave, 2/1 Bhajanlal Lohia Lane, Howrah 711101 and will cater to 7 important locations like Barasat, Barrackpur, Chunchura, Chandannagar, Kharagpur, Baruipur along with Howrah, through a hub-n-spoke model.
This is Aadhar’s second branch in West Bengal, after the recently inaugurated branch in Asansol and its 17th branch in the country.
Aadhar was envisaged by DHFL and IFC, a member of the World Bank group, as a segment focused housing finance company to reach out to the low income segment with incomes ranging from Rs. 5000/- to Rs. 25000/- pm in the identified states namely Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Jharkhand, Bihar, Orissa and West Bengal. Aadhar has been enabling access to housing finance to a segment that has limited access to any form of formal lending and provides housing loan up to Rs. 12 Lac.
Speaking on the occasion, Harshil Mehta, CEO, Aadhar, said “Howrah is the second largest city of West Bengal and an important industrial and transportation centre of the state. The industrial base of Howrah is chiefly supported by light and heavy engineering industries, jute mills, cotton mills etc that employ a large section of the districts population. Howrah’s positional significance has also been responsible for the industrial development in the region and excellent connectivity with other parts of the country through rail, road, river-ways and air.”
“Howrah and surrounding areas are experiencing major real estate development especially in the affordable segment. Aadhar expects to leverage upon this development by preapproving the projects and offer home loans to prospective customers. West Bengal has shortage of approximately 23 lakh units of which about 30 % comes from Howrah and surrounding areas.”, added Mehta.
Aadhar offers an array of products including home loans, home improvement/extension loans, plot loans, self-construction loans and gradually extend products such as mortgage loan, lease rental finance and non-residential property loan/s.
Aadhar also refinances project loans essentially for development of low cost housing projects.
Source: Anandmahal