45-year-old corporation, awaiting reverse merger with its subsidiary HDFC bankalso won best Accommodation Finance company award from the government for the third time this year.
Its Managing Director Renu Sood Karnad said that they have more than 3.13 lakh credit linked subsidy scheme (CLSS) Customers who have borrowed a total of more than Rs 67,000 crore from them since the launch of the scheme under the Pradhan Mantri Awas Yojana (PMAY).
These customers have received subsidy of over Rs 7,200 crore, which is more than 15 per cent of the total subsidy of Rs 48,250 crore given by the government.
In a statement on Thursday, Karnad said the corporation has been awarded the Best Performing Housing Finance Company under CLSS and Union Housing Minister Hardeep Singh Puri gave the award last night in Rajkot.
It may be noted that the electoral state Gujarat has become the best performing state under the scheme in terms of the number of borrowers.
HDFC won the Best Performing Primary Lending Institution in the EWS and LIG segment in July 2018 and the second best Institution in the MIG segment under the scheme. In March 2019, it also received the Best Private Sector Financial Institution award under this.
Karnad expects affordable housing to continue to drive the real estate sector as there is strong structural demand for housing due to better affordability, government incentives, favorable demographics, increasing urbanization and rising aspirations to own a home.
He also mentioned a paradigm shift among customers across all sectors applying online, which has enabled HDFC to assist over 3 lakh customers under PMAY, especially during the pandemic. As a result, more than 92 per cent of the new loan applications received today are through digital channels, which was less than 20 per cent before the pandemic.
In the last 45 years, HDFC has funded more than 95 lakh homes. It has 695 offices in the country and also in London, Dubai and Singapore.