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ICICI Home Fin offers up to Rs 1 crore loan for purchases in regularised colonies of Delhi-NCR

New Delhi: Home Finance on Thursday said it has started offering home loans between Rs 10 lakh and Rs 1 crore to customers seeking to purchase homes in Delhi-NCR. The loans can be availed by customers who are seeking to purchase homes in regularised colonies of Delhi-NCR, including Laxmi Nagar, Uttam Nagar, Krishna Nagar and Pitampura, it said in a release.

The offering is in line with the government’s regularisation bid to create planned urbanisation, and transform the colonies with modern amenities. The regularisation will help achieve the Pradhan Mantri Awas Yojana (PMAY)- Housing for All mission, it said.

Home loan seekers can avail subsidy of up to Rs 2.67 lakh under the PMAY, a credit-linked subsidy scheme for middle-income groups (MIG-I and II) and lower-income groups (LIG).

The PMAY subsidy can be availed up to March 31, 2021, for customers under the MIG-I and II category; and March 31, 2022 for customers under economically weaker section (EWS) and LIG category.

Under this, salaried as well as self-employed individuals can avail the affordable home loan ranging from Rs 10 lakh to up to Rs 1 crore for a tenure of 20 years, ICICI HFC said.

The company also provides funding for builders who have completed at least 30 per cent of their projects.

“The regularisation of colonies in Delhi-NCR has helped to provide people with easy access to home loans. We at ICICI HFC have aligned our affordable home loans to cater and fund customers interested to purchase such properties,” Anirudh Kamani, MD & CEO, ICICI Home Finance, said.

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