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Aadhar Housing Finance (P) Ltd today made its maiden entry in Indore as part of plan to target 27 per cent of business in housing loan products from Madhya Pradesh in the current fiscal.
Aadhar is promoted by DHFL and IFC. The company plans to reach out to the low income segment — those in the income bracket of Rs 5,000 to Rs 20,000 a month — in six States, the CEO, Mr Harshil Mehta, told a press conference here.
After Lucknow and Kanpur in Uttar Pradesh, Aadhar Housing would open branches in Bhopal, Jabalpur and Gwalior, Mr Mehta said.
Aadhar Housing targets to provide loans to over 2,500 applicants in the current fiscal year, and of which 27 per cent would be targeted in Madhya Pradesh and 66 per cent in Uttar Pradesh, he said.
Asked to divulge cash investment in terms of housing loans, Mr Mehta said, “Ours is 60-days old company, and there would be no dearth of funds. It should also be a private matter.”
Aadhar Housing would provide loans up to Rs 5 lakh at 10.7 per cent interest, and loans above Rs 5 lakh at 11 per cent, he said.
The company will offer an array of products, including home loans, home improvement and extension loans, plot loans, self construction, and lease rental finance, he added.
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