PNB & Aadhar Housing Finance Enters Northeast - Launches First-ever Branch in Assam

With the launching of their first-ever branch in Guwahati, Assam, PNB Housing Finance and Aadhar Housing Finance announced their debut into northeast region of the country. Aligning with the Indian government’s goal of “Housing for All” and endorsing financial attachment through the PMAY - Pradhan Mantri Awas Yojana agenda, the expansion move demonstrates a vital turning point in the progress of affordable housing alternatives.

As part of a larger initiative to close the home finance gap in the area, PNB Housing Finance and Aadhar Housing Finance are dedicated to promoting home ownership in the underserved North East by providing customized, cutting-edge affordable housing finance solutions.

In addition to making home financing more accessible, the expansion will increase demand for real estate and promote regional prosperity.

As of September 2024, North East states only made up 0.93 percent of all individual housing loans, according to the National Housing Bank. PNB Housing Finance and Aadhar Housing Finance are attempting to increase the quantity of affordable home loans accessible to both self-employed and salaried individuals as a demonstration of their ongoing dedication to building a solid basis for economic development in these areas.

Sanjay Shukla, MD, National Housing Board, said, “The distinct 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.”

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. We are aligned with the government’s PMAY agenda, and are committed to help aspiring home owners achieve their dreams.”

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. In alignment with the Government’s vision of Housing for All, we are committed to making low-income housing accessible to more families in the region. This new branch will bring us closer to our customers in the underserved Northeastern states.”