There has been a rising demand for affordable housing, particularly in Tier 3 and 4 cities. As urbanisation spreads, more individuals are looking to build their lives and homes in smaller cities and towns. Given the unique profiles of these individuals, there are companies that provide accessible and affordable financial tools to help low-income people achieve their dreams.
“For salaried customers, we don’t always require an ITR. Instead, we consider alternative documentation such as salary slips and bank statements that reflect consistent salary credits. These documents provide valuable insights into customers’ income and expenditure patterns, which are vital in the loan application process,” said Rishi Anand, MD & CEO of Aadhar Housing Finance.
We recognise that individuals may be new to the workforce, and their overall professional experience might be limited. In such cases, we assess the qualifications and job stability of the applicant. If a customer holds a professional qualification and is employed by a reputable company, this can work in their favour to obtain a loan from Aadhaar, added Anand.
What about self-employed individuals who live in Tier 3 cities and have been refused a home loan by banks? “At Aadhar Housing Finance Ltd, our mission revolves around making homeownership a reality for individuals, particularly in Tier 3 and Tier 4 cities. We specialise in funding properties in these regions, with a strong emphasis on affordable housing. We take pride in being a financial partner that understands the unique needs and challenges faced by residents in these areas,” said Anand.
“We do provide loans to tier 1 and tier 2 cities. One of our key distinguishing factors is our commitment to providing home loans below Rs 25 lakh to tier 2 and tier 3 cities. This places us at the forefront of making affordable housing accessible to a broader range of individuals, including those who may not have been able to secure a home loan from traditional lenders. We understand that the dream of owning a home should not be restricted by financial limitations,” said Anand.
Please note : Views expressed by the investment expert are his/her own.
