India Infrastructure Finance Company Ltd plans to enter the affordable housing segment, a move that could give a boost to the sector. The company is in talks with state governments and housing departments to facilitate public-private partnerships.
Affordable HousingReal EstateInfrastructure FinanceIndia Infrastructure Finance Company LtdPublic Private PartnershipsReal Estate NewsJun 26, 2024
IIFCL is planning to enter the affordable housing finance segment, a move that could give a boost to the sector.
According to Anarock Research data, sales in the budget homes category (priced under Rs 40 lakh) declined to about 20 per cent in the first quarter of 2024 from over 38 per cent before the pandemic in 2019.
The challenges faced by builders in affordable housing projects include the high cost of funds and lack of secure land allotment.
The government initiatives to incentivize affordable housing include interest subsidies under the Credit-Linked Subsidy Scheme, tax benefits for developers, and infrastructure status for affordable housing projects, which streamline funding access.
IIFCL’s standalone net profit increased by 44 per cent to Rs 1,552 crore in 2023-24, driven by increased lending and improved asset quality.
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