Khush Housing Finance forays into Nashik - 06 Aug 2016
Deshdoot
Khush Housing Finance Private Limited (KHFL), a fast growing housing finance company seeking to empower house-owing aspirations of economically weaker sections and urban poor in India, yesterday opened its first office in the city.
This is the company’s eighth overall, and seventh Khush Center in the state of Maharashtra. As a part of company’s tradition, the very first customer from the city inaugurated the branch.
“We are proud to sustain the momentum,” said, Milind Gowardhane. “Nashik is a key city, full of aspiring first time home owners. We at KHFL believe in empowering aspirations and towards this we are working to realise the Prime Minister Narendra Modi’s vision of ‘Housing for All’.
We are dedicated to offer solutions to millions of Indians across cities to own their dream home by availing affordable housing finance, customised to their needs as well as their convenience.
We at KHFL are proud to set up our operations in the city and be a catalyst for positive change for the citizens going forward,” he added.
KHFL plans to set up 30 offices across the country in the next three years. “We are also looking to expand our presence in the other states by opening new offices in the coming months.
We are driven to at least create 1,000 new home owners across India by 31st March, 2017 and thereby firmly establish our credentials as a preferred partners to aspiring homeowners from the economically weaker sections in the country, as well as our lenders,” Milind Gowardhane further stated.
KHFL offers affordable housing finance solutions to economically weaker sections (EWS) and urban poor – usually ignored by the traditional banking institutions owing to lack of documentation, income proof, residential proof, etc.
It offers customised solutions to those aspiring homeowners by ascertaining their credit worthiness through employment of unconventional parameters without impairing the asset quality.
The company also signed a Memorandum of Understanding with National Housing Bank for Credit Link Subsidy Scheme under Pradhan Mantri Awas Yojana, to facilitate improved affordability to the customers.
Housing finance startup Khush Housing Finance enters Ahmedabad - 22 Jun 2016
The Economic Times
Housing finance startup, Khush Housing Finance, provider of house loan of economically weaker sections and urban poor in India, opened its first office in the state of Gujarat at Ahmedabad.
“Gujarat is the state that set the narrative of growth and development in the country. Being a dynamic and industrious society, the state has a host of youngsters aspiring to become first time homeowners” said Amit Magia, CEO & Managing Director, Khush Housing Finance Limited. It has recently been allotted a certificate of registration from National Housing Bank in October 2015.
Its target customers are people would be availing central government scheme- Pradhan Mantri Awas Yojana, where it allows Credit Linked Interest Subsidy component of 6.5 per cent is offered on housing loans availed up to a tenure of 15 years to EWS/LIG categories, wherein the subsidy pay-out on NPV basis would be about Rs. 2.20 lakh per house for both the categories.
Khush Housing Finance Ltd. opens new branch in Ahmedabad - 22 Jun 2016
Accommodation Times News Services
Khush Housing Finance Ltd. an upcoming housing finance company announces its venture into Gujarat’s Ahmedabad city. The financial institute has set up its first branch in the city on Wednesday, 22nd June, 2016.
The company focuses on funding affordable home loans for affordable housing segment in the middle income and low income group, who otherwise has no access to housing finances due to lack of a formal income stream. The HFC has total seven branches after being granted the Certificate of Registration by National Housing Bank, which are situated in cities like Thane, Kolhapur, Pune, Virar, etc.
KHFL plans to set up 30 offices across the country in the next three years. “We are driven to at least create 1,000 new home owners across India by March 31, 2017,” said Amit Magia, CEO & Managing Director.
The company has also signed a memorandum of understanding with National Housing Bank for Credit Link Subsidy Scheme under Pradhan Mantri Awas Yojana, to facilitate improved affordability to the customers.
Soon HFC is going to launch more branches in various cities of Gujarat and Maharashtra like Baroda, Bhavnagar, Rajkot, Surat, Jamnagar, Vapi, Valsad, Aurangabad, Nashik, Nagpur and Solapur.
Khush Housing Finance starts Pune operations - 22 Jun 2016
DesiJam
Khush Housing Finance Private Limited (KHFL), a housing finance company, which focuses on economically weaker sections and urban poor announced opening of its sixth branch office in the country, Pune.
The new branch follows company’s existing footprints in the state. Khush Housing Finance Private Limited has set up five new offices in Maharashtra. It has set up two offices on the outskirts of Mumbai – Thane and Virar and followed by Kolhapur, Sanghli and Satra. Going forward, Khush Housing Finance Private Limited plans to set up 30 offices across the country in the next three years.
The company also signed a Memorandum of Understanding with National Housing Bank for Credit Link Subsidy Scheme under Pradhan Mantri Awas Yojana.
KHFL focuses on offering affordable housing finance solutions to economically weaker sections (EWS) and urban poor, who are usually ignored by the traditional banking institutions owing to lack of documentation, income proof, residential proof, etc. It offers customised solutions to those aspiring home-owners by ascertaining their credit worthiness through employment of unconventional parameters without impairing the asset quality.
Amit Magia, CEO and Managing Director, drives company’s vision and mission. Amit is Harvard Alumni and Chartered Accountant and a first generation entrepreneur. KHFL has put together a team of industry stalwarts and respected professionals including Chief Mentor Alok Prasad, Mentor – Policy & Processes Shekhar Ghotghalkar and Milind Gowardhan. Along with the highly motivated members, the company has already witnessed a steady flow of proposals in its markets of presence.
Speaking on the occasion, Amit Magia, said, “We are following government’s set vision of ‘Housing for All’ by 2022. We believe, for this vision to be achievable, one has to look towards empowering and uplifting the economically weaker sections and urban poor. At the same time, ensure flexible processes are adopted to include borrowers, which are otherwise excluded on technical and documentation grounds. We at Khush Housing Finance, we have developed a novel methodology, which not only mitigates the risks but identifies and rates the borrower’s creditworthiness despite technical bottlenecks like lack of documentation and income proof.”
Milind Gowardhan, President at KHFL adds, “Pune is a key town filled with aspiration and entrepreneurial citizens that would benefit from our offerings. We are confident in offering solutions customised to the needs of the citizens and help them achieve their long cherished dream of owning a home in an uncompromising and customer friendly way.”
In the recently announced Union Budget 2016, an additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh is proposed. Besides, the Budget has also proposed exemptions on housing loan interest to the first time homebuyers. Besides the Government is playing a dedicated role in boosting the demand for affordable housing, thereby setting stage for greater participation for new housing finance companies.
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NHB gives nod to six new entities to become housing finance companies
Live Mint
21 Oct 2015
The new housing finance companies aim to focus mainly on the affordable housing finance segment
As on date, the total number of housing finance companies registered with NHB is 72.
New Delhi: The National Housing Bank (NHB) has granted permission to six new entities to become housing finance companies. These six companies are Supreme Housing Finance, Nivara Home Finance, Khush Housing Finance, Bajaj Housing Finance Capri, Global Housing Finance Pvt. Ltd and Hinduja Housing Finance Ltd, NHB said in a release on Saturday.
“Thus, as on date, the total number of HFCs registered with NHB is 72. New HFCs aim to focus mainly on the affordable housing finance segment and are likely to cater the housing loan needs of the EWS/LIG segment, contributing to achieving the goal of housing for all by 2022,” it said.
Earlier this week, RBI allowed banks to give home loans up to 90% of the value of the property that cost below Rs.30 lakh. Earlier, the facility was available only in cases where the cost was up to Rs.20 lakh. PTI
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NHB nod for 6 new entities to become housing finance cos
CREDAI-NCR
12 Oct 2015
The National Housing Bank (NHB) has granted permission to six new entities to become housing finance companies.
The National Housing Bank (NHB) has granted permission to six new entities to become housing finance companies.rnrnThese six companies are Supreme Housing Finance, Nivara Home Finance, Khush Housing Finance Private, Bajaj Housing Finance Capri, Global Housing Finance Pvt Ltd and Hinduja Housing Finance Ltd, NHB said in a release.rnrn“Thus, as on date, the total number of HFCs registered with NHB is 72,” it said.
Click here for original article on the website
NHB gives nod to 6 new entities to become housing finance companies
The Hindu Business Line
11 Oct 2015
NEW DELHI: The National Housing Bank (NHB) has granted permission to six new entities to become housing finance companies.
These six companies are Supreme Housing Finance, Nivara Home Finance, Khush Housing Finance Private, Bajaj Housing Finance Capri, Global Housing Finance Pvt Ltd and Hinduja Housing Finance Ltd, NHB said in a release.
“Thus, as on date, the total number of HFCs registered with NHB is 72,” it said.
Click here for original article on the website
NHB gives nod to 6 new entities to become housing finance companies
The Economic Times
10 Oct 2015
NEW DELHI: The National Housing Bank (NHB) has granted permission to six new entities to become housing finance companies.
These six companies are Supreme Housing Finance, Nivara Home Finance, Khush Housing Finance Private, Bajaj Housing Finance Capri, Global Housing Finance Pvt Ltd and Hinduja Housing Finance Ltd, NHB said in a release today.
“Thus, as on date, the total number of HFCs registered with NHB is 72. New HFCs aim to focus mainly on the affordable housing finance segment and are likely to cater the housing loan needs of the EWS/LIG segment, contributing to achieving the goal of housing for all by 2022,” it said.
Earlier this week, RBI allowed banks to give home loans up to 90 per cent of the value of the property that cost below Rs 30 lakh.
Earlier, the facility was available only in cases where the cost was up to Rs 20 lakh.
This will benefit those who plan to purchase properties in the range of Rs 20-30 lakh.
Click here for original article on the website
NHB Gives Nod to 6 New Entities to Become Housing Finance Firms
Wiki News India
10 Oct 2015
NEW DELHI: The National Housing Bank (NHB) has granted permission to six new entities to become housing finance companies.
These six companies are Supreme Housing Finance, Nivara Home Finance, Khush Housing Finance Private, Bajaj Housing Finance Capri, Global Housing Finance Pvt Ltd and Hinduja Housing Finance Ltd, NHB said in a release on Saturday.
“Thus, as on date, the total number of HFCs registered with NHB is 72. New HFCs aim to focus mainly on the affordable housing finance segment and are likely to cater the housing loan needs of the EWS/LIG segment, contributing to achieving the goal of housing for all by 2022,” it said.
Earlier this week, the Reserve Bank of India allowed banks to give home loans up to 90 per cent of the value of the property that cost below Rs 30 lakh. Earlier, the facility was available only in cases where the cost was up to Rs 20 lakh.
This will benefit those who plan to purchase properties in the range of Rs 20-30 lakh.
Click here for original article on the website
NHB approves six more housing finance firms
The Khushboo of India
10 Oct 2015
KOI News Service: [email protected]
New Delhi: In a bid to boost the realty sector and to achieve housing for all, six new companies have been given permission to rub housing finance operations by the National Housing Bank (NHB), reported The Financial Express on Saturday.
The NHB said, “As on date, the total number of housing finance companies registered with NHB is 72. New HFCs aim to focus mainly on the affordable housing finance segment and are likely to cater the housing loan needs of the EWS/LIG segment, contributing to achieving the goal of housing for all by 2022.”
These companies are Supreme Housing Finance, Nivara Home Finance, Khush Housing Finance Private Ltd, Bajaj Housing Finance Capri, Global Housing Finance Pvt Ltd and Hinduja Housing Finance Ltd, NHB said in a release today. With RBI recently allowing banks to give home loans up to 90 per cent of the value of the property that cost below Rs 30 lakh, the latest NHB step will also help the housing sector in a big way.
The RBI facility was earlier available only in cases where the cost was up to Rs 20 lakh. Now, it will benefit those who plan to purchase properties in the range of Rs 20-30 lakh.
Following RBI’s notification, NHB too lowered loan-to-value ratio for affordable housing loans to 90 per cent.
No housing finance company should grant housing loans to individuals up to Rs 30 lakh with LTV ratio exceeding 90 per cent, NHB said. For loans above Rs 30 lakh and up to Rs 75 lakh, LTV ratio cannot exceed 80 per cent, it said.
