Aadhar is a low income segment focused housing finance company jointly set up by DHFL and International Finance Corporation (IFC).
    
"... will expand operations to four more states, Maharashtra, Punjab, Haryana and Uttarakhand," it said in a release on Thursday.
    
"These states have seen a rise in the demand for low income housing...Aadhar has also decided to consider loans up to 15 lakh as against the existing cap of 12 lakh home loans which will suit the need of many LIG customers in the newly expanded states," Aadhar CEO Deo Shankar Tripathi said.

Aadhar currently operates through 62 branches in nine states Uttar Pradesh, Madhya Pradesh, Jharkhand, Chhattisgarh, Bihar, Orissa, West Bengal, Gujarat and Rajasthan. It plans to open 40 more branches by March 2016.

"The expansion move to the new states rose from the increase in demand for low income housing and government commitment for housing for all, thus increase in demand for financial assistance in the EWS and Low Income groups," it said.
    
Presently there is a housing requirement of 2 crore in urban India, out of which 95 per cent constitutes of the EWS and LIG segment.
    
Aadhar aims to double its current loan book size to Rs 2,000 crore from Rs 1,000 crore by 2016 by reaching out to this untapped market, said the company.
    
Also, for an added impetus it company also plans to increase its maximum loan ticket size to Rs 15 lakh from Rs 12 lakh. The average home loan ticket size of the company is as of now is Rs 6.40 lakh.

Aadhar gives housing finance to lower income consumer segments, both salaried and self-employed individuals with monthly income ranging between Rs 5,000 to Rs 25,000.

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