Hyderabad: HDFC Ltd, India’s premier housing finance company, strengthened its presence in Andhra Pradesh by opening a new office in Vijayawada. The new office is housed at HDFC Ltd, D.No – 7-34, 1st Floor, R.S.No – 538/2, One Center, Gollapudi, Vijayawada – 521225, Krishna District. This is HDFC Ltd’s 15th office in Andhra Pradesh.
The new office of HDFC Ltd would be convenient for customers spread across Gollapudi, Bhavanipuram, Jakkampudi, Ibrahimpatnam, Mylavaram, Tiruvur, Nandigama, Jaggaiahpeta and adjoining areas in availing home loans for buying their dream home. The new office is centrally located and customer convenience was given utmost importance while finalizing the new premises.
The new office will be open from Monday to Friday between 9:30 am and 5:15 pm; Saturdays – 10:00 am to 1:00 pm and will remain closed on 3rd Saturday of every month.
Speaking on the occasion, Ms. RenuSudKarnad, Managing Director, HDFC Ltd said, “Vijayawada is a major trading and business center of the state. It is famous for processing of agricultural products, automobile body building and small scale industries. It is also has one of the largest auto industry hub of India called Auto Nagar and houses a thermal power plant. Real estate market in Vijayawada is witnessing a healthy growth because better infrastructure facilities and decent industrial setup. Lower interest rates and PMAY schemes has made house buying more affordable. It’s a matter of pride that we have this opportunity to further extend our services to customers residing in the areas near our new office and it has always been our endeavour to serve them with the same zeal & commitment.”
Emphasizing further she said,
“HDFC has always promoted the concept of home ownership and well recognizes the fact that providing personalized counselling is essential to serve home seekers more effectively. Our new office signifies the importance of the region in the HDFC’s network. We aim to reach the large untapped market of genuine home buyers and assist them in making an informed home buying decision.”
HDFC Ltd under ‘Pradhan MantriAwasYojana’ (PMAY) is offering the credit linked subsidy for home loans to customers from the Economically Weaker Section (EWS), Low Income Group (LIG) and Mid Income Group (MIG). As per the scheme, eligible borrowers will get interest subsidy of 6.5% pa for loans up to ₹ 6,00,000 for EWS and LIG category (annual household income up to ₹ 6,00,000), interest subsidy of 4% for loans up to ₹ 9,00,000 for MIG-1 category (annual household income between ₹ 6,00,001 & ₹ 12,00,000) and interest subsidy of 3% for loans up to ₹ 12,00,000 for MIG-2 category (annual household income between ₹ 12,00,001 & ₹ 18,00,000) for a maximum tenure of 20 years. The effective subsidy to customer is in the range of ₹ 2.30 – 2.67 lakhs on a 20 year term, receivable upfront. The schemes for MIG-1 and MIG-2 are valid up to March 31, 2021 and schemes for EWS/LIG are valid up to March 31, 2022.
HDFC in order to promote affordable housing has created dedicated teams across the country. These teams have conducted extensive workshops to educate developers and their sales staff, corporate and their employees, etc by setting up help desks at their offices. HDFC during the quarter ended June 30, 2020, 37% of home loans approved in volume terms and 19% in value terms have been to customers from the Economically Weaker Section (EWS) and Low Income Groups (LIG). HDFC retained its position of having the largest number of beneficiaries under CLSS, with cumulative disbursements to nearly 2 lakh customers under the scheme.
HDFC Ltd in March 2019 was awarded as the ‘Best Private Sector Financial Institution’ for PMAY-CLSS at PMAY Empowering India Awards 2019. Also in June 2018, HDFC was awarded the best performing primary lending institution in the EWS (Economically Weaker Section) and LIG (Low Income Group) and second best in the Middle Income Group (MIG) category by the honorable Prime Minister Shri. Narendra Modi. This is one small step towards “Housing for all by 2022” which HDFC ltd has been working on as a mission and business objective to take the government’s flagship scheme, ‘Pradhan MantriAwasYojana (PMAY)’ to the real beneficiaries.
HDFC follows a single-window concept and offers free property counselling services for a variety of individual needs, legal & technical guidance and has capabilities to approve loans swiftly. With its understanding and knowledge of the real estate market, HDFC also advises customers on property related issues. It has grown to provide not just the finance but a complete solution to the customers’ housing needs since buying a house for most of us is the biggest Investment and once in a life time decision.
Innovative products tailored for the customers:
- Housing loans
- Home Improvement Loans
- Home Extension Loans
- Plot Loans
- Rural Housing Finance Loans
- HDFC Reach
- HDFC Arya – loans to Central and State Govt. Employees
- Loans to NRIs
- Loan Against Property
- Top-up Loans for existing customers
- Customized repayment options
