Tag: affordable housing

IndustryLatest Stories

Chandigarh Admin Berates CHB for Poor Performance

CHANDIGARH: Punjab Governor and UT Administrator Gulab Chand Kataria criticized the Chandigarh Housing Board (CHB) for its inadequate performance in fulfilling its mandate of providing affordable housing in the city. The board has faced scrutiny for its long-standing stagnation, failing to initiate a single housing project in almost a decade. During his inaugural visit to the CHB building in Sector 9, the administrator led a performance review meeting on Thursday, where various aspects of the board’s operations were discussed. He emphasized the need to reactivate the CHB to meet its objectives. Present at the meeting were CHB officials, including UT…

Latest StoriesResidential

PM to Inaugurate PMAY Homes in Gujarat

AHMEDABAD: Prime Minister Narendra Modi will embark on a two-day visit to Gujarat starting August 25, during which he will inaugurate 1,449 houses and 130 shops constructed under the Pradhan Mantri Awas Yojana (Urban), with a total investment of Rs 133.42 crore, according to officials. The inauguration of these houses is a key event during his visit, as per an official statement. “As part of the in-situ slum redevelopment initiative under the PMAY (Urban), the Prime Minister will inaugurate rehabilitation efforts encompassing 1,449 houses and 130 shops at a cost of Rs 133.42 crore, located in sector-3 of the slum…

Housing FinanceLatest Stories

Ummeed Housing Raises ₹250 Crore from BII for Affordable Homes

NEW DELHI: Ummeed Housing Finance Pvt Ltd (UHFPL), based in Gurugram, announced on Tuesday that it has raised Rs 250 crore in funding from British International Investment (BII), the UK’s government development finance institution. This investment aims to enhance Ummeed’s capacity to offer affordable, long-term housing finance to low-income groups across India. The funds will primarily be used for mortgage-backed loans, targeting underserved borrowers and promoting property ownership and financial inclusion. In line with its mission for inclusive growth, Ummeed stated that these loans will facilitate homeownership among beneficiaries. This new capital injection is expected to assist up to 3,000…

Latest StoriesResidential

Bhubaneswar to Offer Affordable Housing to Slum-Dwellers via Lottery

BHUBANESWAR: On Wednesday, the Bhubaneswar Development Authority (BDA) conducted a lottery to distribute homes to 38 beneficiaries through its Affordable Housing Projects (AHP) and In-situ Slum Redevelopment (ISSR) initiatives. The purpose of these schemes is to offer secure and dignified housing for the urban poor living in slums and informal settlements. The allocation involved 24 beneficiaries receiving homes at Barunei Enclave AHP in Subudhipur, nine at Santi Nagar Awas Yojana (Keshari Residency), and five at the Nilamadhab Awas scheme in Chandrasekharpur. BDA Vice-Chairman N Thirumala Naik, present at the event, highlighted the authority’s commitment to inclusive urban development. “Our goal…

Housing FinanceLatest Stories

Aadhar Housing Finance Q1 FY26 Net Profit Rises 18.56%

NEW DELHI: Aadhar Housing Finance has reported a net consolidated profit growth of 18.56% for the quarter ending June 30, 2025. The profit after tax stood at ₹237.28 crore in Q1 FY26, compared to ₹200.14 crore in the same quarter of the previous fiscal year, as per the company’s BSE filing. The net consolidated total income for Q1 FY26 was ₹851.34 crore, reflecting a growth of 19.38% from ₹713.15 crore in the equivalent quarter last year. Rishi Anand, the MD & CEO, stated, “We ended FY26’s first quarter strongly, with an AUM of ₹26,524 crore, representing a year-on-year growth of…

IndustryLatest Stories

Sustainable Cities: India’s Urban Boom Offers Opportunities

Representative image created by AI NEW DELHI: Urbanization should be seen as an opportunity to transform Indian cities into sustainable and inclusive growth hubs, said Durga Shankar Mishra, former Secretary of the Ministry of Housing and Urban Affairs (MoHUA), at the ASSOCHAM Real Estate Conference 2025. He pointed out that under the Viksit Bharat vision, India’s urban population is projected to reach about 880 million by 2047, emphasizing the need for proactive and forward-thinking urban planning. “Real estate currently contributes nearly 13% to India’s GDP, with the affordable housing and development sector expanding at almost 10% annually,” Mishra noted, underscoring…