PNB Housing Finance and Aadhar Housing Finance Expand Presence in North East India

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Chandigarh: PNB Housing Finance Ltd. and Aadhar Housing Finance Ltd. announced their foray into the North East region of the country with the inauguration of their first -ever branch in Guwahati, Assam. This expansion marks a significant milestone in advancing affordable housing solutions, aligned with the government’s mission of ‘Housing for All’ and driving financial inclusion through the Pradhan Mantri Awas Yojana (PMAY) agenda.

With a commitment to fostering home ownership in the underserved North East region, PNB Housing Finance and AadharHousing Finance will offer tailored, innovative affordable housing finance solutions as part of a strategicpush to bridge the home finance gap in the region. The expansion will not only facilitateaccesstohousingfinance,but alsoboost realestatedemandandsupport regionaldevelopment.

Mr. Sanjay Shukla, MD, National Housing Board, said, “Thedistinct 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.”

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.”

According to the National Housing Bank, North East states accounted for only 0.93% of the total individual housing loans as of September 20241. PNB Housing Finance and Aadhar Housing Finance are determined to boost the availability of affordable home loans for both salaried and self-employed individuals.