Thursday, February 5, 2015

MHFC nominated for Financial Times 'Boldness in Business' Award

The beginning of this year has come with fantastic news for MHFC. We were recently given a 5 star impact rating by the world’s leading impact rating agency, GIIRS. Further, we had a full page story on our work and processes along with a customer story in the world’s leading business newspaper - the Financial Times, London.

We are now happy to share some more lovely news! MHFC has been nominated for the prestigious FT Arcelor Mittal ‘Boldness in Business’ award - which will be given out in London on March 19, 2015 (past nominees for the award include amazing companies like Google, Uber and Twitter).

While these are fantastic external recognitions and a strong endorsement of the work being done at MHFC in financial inclusion, we believe that even more exciting and promising this year is that on the supply side, we see several projects coming up - both in the private and public sector - which would mean increased activity at MHFC and greater opportunities to help many more financially excluded families get a home of their own.

Wednesday, January 21, 2015

MHFC partners with Playtor Lifespaces for three affordable housing projects in Pune

Even though various numbers and studies for Q3 2014 show a relative dip in affordable housing nationally, the city of Pune has fared relatively better owing to its demand for affordable houses. The year 2015 however, promises to be a good year for affordable housing (read here).

Specifically, Pune based Sangam Realty who have projects in low cost housing have announced a partnership with Brick Eagle (a financial services company), to launch Playtor Childspaces - with three projects in the outskirts of Pune namely, Rajgurunagar, Ranjangaon and Paud. The projects have already opened for applications and given the pricing of Rs 10 lakhs (for a 1 BHK flat of 367 sq ft), we believe that this should be of keen interest to our segment, and hence we are excited to partner with the developer.  

For info, bookings have already started at all three projects and MHFC has already started sanctioning loans to customers on the projects. But to reiterate, buyers who are from the informal sector (those lacking salary slips or any other formal income documents) or the financially excluded (who cannot get loans from other housing finance companies easily) and who need help with financing, may contact our local Pune representative - Mr Pankaj Soni - on 9167220735 - or email him on pankaj.soni@mhfcindia.com or of course may also contact our Head Office (Mumbai) on contact@mhfcindia.com (website www.mhfcindia.com).

Wednesday, December 3, 2014

MP (Madhya Pradesh) Housing Board - applications open for EWS (5.45 lakhs) / LIG (12.31 lakhs) flats in Bhopal

MP Housing Board has announced / opened a lottery of 912 flats in Bhopal aimed at lower income families (432 EWS and 480 LIG) - see below link for more details.
MP Housing Board advertisement

Applications are currently open till Dec 10 (or till the MP Housing Board receives applications for all the flats) - and we believe that this represents a very good chance of getting a home in Bhopal at a price of Rs 5.45 lakhs approx (in the case of EWS) and Rs 12.31 lakhs (LIG flats). 

As already discussed in earlier posts, Housing Board schemes (including this scheme) is an automatically approved developer for MHFC. Hence, for housing loans (of max 10 lakhs) on MP Housing Board flats, but only to buyers who are from the informal sector (those lacking salary slips or income tax returns to prove incomes) or financially excluded (who cannot get loans from other housing finance companies easily) - please contact our local representative - Deepak Sarathe - on 9755333018 - or email him on deepak.sarathe@mhfcindia.com. You may also contact our Head Office (Mumbai) on contact@mhfcindia.com (website www.mhfcindia.com).

Saturday, November 29, 2014

DDA allotments declared

Draw  for the Delhi Development Authority's (DDA's) mega housing scheme was held on Nov 25, and the results are now available on DDA website. Per the HT article (link below), DDA vice-chairman Balvinder Kumar said flats will be handed over to the lucky winners only after they are completely constructed with all amenities.
"All payments ... will have to be made online...almost all flats will be ready for hand over by end of December 2014."
and link to the actual results on the DDA website

Note that like most developers linked to state bodies and authorities, the DDA will be an automatically approved developer for MHFC. Hence, for housing loans on DDA flats, but only to buyers who are from the informal sector (those lacking salary slips or income tax returns to prove incomes) or financially excluded (who cannot get loans from other housing finance companies easily) - please contact us on 22660427 / 0069 or email us on contact@mhfcindia.com (website www.mhfcindia.com) when a loan is required.

Amrita Abashan / BGA Realtors - Kolkatta


Ad in today's TOI by BGA Realtors, which is an existing builder partner of MHFC in Kolkatta re flats being offered in its projects - and MHFC's offer to finance buyers from the informal sector who have income but do not have documentation to prove income - at a special rate of 9.8% (fixed for 7 years).   

This is an approved project for MHFC - and we will finance buyers from our segment (financially excluded families) subject to our terms and conditions. For more details, please call our officer in Kolkatta - Subrata Biswas 9831433440 - or email him on subrata.biswas@mhfcindia.com.