INSUBCONTINENT EXCLUSIVE:
finance companies, with even big firms such as HDFC and Dewan Housing gaining nearly 20 per cent of their growth from this segment.
Under
For the MIG-I category, a 4 per cent interest subsidy is provided to beneficiaries with an annual income of Rs 6-12 lakh on a loan of up to
Rs 9 lakh, and 3 per cent interest subsidy for an annual income of Rs 12-18 lakh on a loan of up to Rs 12 lakh.
EWS and LIG target people
with an annual income of Rs 3 lakh, and Rs 3-6 lakh, with interest subsidy of 6.5 per cent
The larger housing finance companies are focusing on the Rs 20 -40 lakh segment though.
People with income of Rs 6-12 lakh are taking loans
Since loans in this segment is three times the income, loan size is Rs 18-35 lakh, corresponding to houses at Rs 25 lakh to Rs 40 lakh
HDFC on an average has been approving close to 8,300 loans on a monthly basis to EWS and LIG segments, with monthly average approvals at Rs
Dewan Housing posted 28 per cent growth in home loans by focusing on the affordable housing sector as 65 per cent of its home loan customers
are eligible for various government schemes
