With a commitment to fostering home ownership in the underserved North East region, PNB Housing Finance and Aadhar Housing Finance will offer tailored, innovative affordable housing finance solutions as part of a strategic push to bridge the home finance gap in the region. The expansion will not only facilitate access to housing finance, but also boost real estate demand and support regional development.

Mr. Sanjay Shukla, MD, National Housing Board, said, “The distinct geographic challenges and developing infrastructure in the North East region presents both opportunities and responsibilities. Real estate and housing finance are complementary sectors which are not only pivotal for the sustainable development of this region, but also catalysts for unlocking its true potential. By widening their presence in this region, both PNB Housing and Aadhar Housing will significantly contribute in driving last-mile financial inclusion, thus empowering the local economy manifold.”

Mr. Girish Kousgi, MD & CEO, PNB Housing Finance, said, “The North East region – armed with a wealth of culture and resources – presents immense opportunities for growth and development. We are thrilled to expand our presence in this region, beginning with Guwahati, and further widening our distribution footprint across the North East. Our comprehensive affordable housing product ‘Roshni’ aims to make a meaningful difference in the lives of people here, ensuring that families can thrive in safe and sustainable environments. We are aligned with the government’s PMAY agenda, and are committed to help aspiring home owners achieve their dreams.”

Mr. Rishi Anand, MD & CEO, Aadhar Housing Finance, said, “Our foray into the Northeast with our first branch in Guwahati marks a significant milestone in our journey. We endeavour to provide home ownership to the Economically weaker segment and Lower middle-income group, empowering them to build a secure future. Guwahati, with its growing economy and vibrant community, is a key market for us, and we are excited to be part of its growth story. In alignment with the Government’s vision of Housing for All, we are committed to making low-income housing accessible to more families in the region. This new branch will bring us closer to our customers in the underserved Northeastern states.”

According to the National Housing Bank, North East states accounted for only 0.93% of the total individual housing loans as of September 2024^[1]. PNB Housing Finance and Aadhar Housing Finance are determined to boost the availability of affordable home loans for both salaried and self-employed individuals – a testament to their sustained commitment towards creating a strong foundation for economic development in these regions.

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Presiding the meeting, Shri Durga Shanker Mishra, Secretary, MoHUA said, “The progress made in PMAY(U) is significant. I urge States to work towards achieving the target of constructing 60 Lakh houses and grounding of 80 Lakh by the end of 2020.” Further, he also called for effective implementation of ARHCs by States/UTs. “ARHC is a transformative scheme. It will improve the quality of life of beneficiaries,” he said.
This was the first CSMC meeting during the COVID-19 pandemic. This reflects the importance the Government has attached to the objective of providing pucca houses to all eligible beneficiaries of Urban India by 2022 with the vision of ‘Housing for All’. Ministry of Housing and Urban Affairs (MoHUA) has laid renewed emphasis to accelerate housing construction and completion across the country within stipulated time under PMAY(U).

The states also put in their proposals for revision of projects due to various issues such as, of land, topographical hazards, inter-city migration, change of preferences of verticals, loss of lives etc.

With this, as on date, the total number of sanctioned houses under PMAY(U) is now 1.07 Crores as against the validated demand of 1.12 Crore.

About 67 Lakh houses are grounded for construction and more than 35 Lakh have been completed and occupied. Total investment under the Mission is Rs 6.32 Lakh Crore which has Central assistance of Rs 1.68 Lakh Crore of which Rs 72646 Crore of funds have been released.

The Meeting evinced tremendous response from the States/UTs on Affordable Rental Housing Complexes (ARHCs), a sub-scheme under PMAY (U) for Urban Migrants/Poor. The States/UTs were further familiarized with the Scheme and requested to take appropriate measures for its effective implementation. ARHCs are a major step towards fulfilling the goal of ‘AatmaNirbhar Bharat’.

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