ICICI HFC expands presence in AP, TS

Hyderabad: Mumbai-based housing finance company, ICICI HFC Limitedlaunched two new branches in the city expanding its network to 18 branches in Andhra Pradesh and Telangana, within three years. The new branches opened at ECIL and RC Puram in Hyderabad will offer home and gold loan.

The home finance company, a part of ICICI Group, said that as the State government continues to prioritise affordable housing, the demand for the same will be upbeat. As of May 2022, more than two lakh houses were built in Telangana under affordable housing schemes. Moreover, Hyderabad known for its manufacturing units, IT, textile and tourism industry is adding impetus to affordable housing asthese industries attract migrants from across India. Majority of these people seek accommodation in the affordable segment, ICICI HFC stated.

"Hyderabad is witnessing uptick in housing finance demand. Knight Frank's report on affordable housing affirms the infusion of more than five lakh affordable homes in top eight cities of India, Hyderabad being one of them. Our goals of expansion are in line with this growing housing demand in the region. ICICI HFC offers loans with minimal documentation and no ITR for the workers,"MD and CEO of ICICI HFC,Anirudh Kamani said.

The other offeringsof the home loan provider include regular home loan, affordable home loan, gold loan, LAP, Micro LAP and fixed deposit.