Friday, July 31, 2015

Home loans for SMC / AMC / GHB customers

MHFC has already sanctioned hundreds of loans for informal sector families who are buying flats in Ahmedabad Municipal Corporation (“AMC”), Surat Municipal Corporation (“SMC”) & Gujarat Housing Board (“GHB”) projects. We plan to continue supporting customers who have little or no income documentation by helping them buy EWS / LIG / MIG flats in approved affordable housing projects throughout Gujarat. 

Below are some pictures of MHFC representatives and loan officers at credit camps in Ahmedabad and Surat 

MHFC would be very willing to support successful AMC / SMC / GHB allottees who require a loan and are from our segment (financially excluded lower income families) subject to terms and conditions. For more details on loans available, please call our branch manager in Surat (Jignesh Patel on 9016507947) or our branch manager in Ahmedabad (Kashyap Patel – 9925045276). Alternatively, you could email us on

Saturday, May 16, 2015

Shukhobrishti - MHFC financing of 1 BHK and 3 BHK flats

Shukhobrishti - a PPP between Shapoorji Pallonji & the state government of West Bengal - is an affordable housing project located at Rajarhat Newtown, Kolkata. 

The Shukhobrishti Phase 4 draw of lots for Spandan (1 BHK) & Spriha (3 BHK) took place on 12th May 2015 & 13th May 2015 respectively. MHFC had set up a stall during the event to provide housing finance information to customers who had been allotted a flat in the project. 

This is an approved project for MHFC - and we will finance buyers from our segment (subject to our terms and conditions). For more details, please see MHFC website or call our officer in Kolkatta - Mr. Subrata Biswas (9831433440) - or email him on  

Thursday, May 7, 2015

Surat Municipal Corporation - EWS and LIG homes

Per this TOI article (link below), the Surat Municipal Corporation ("SMC") which is building 11,000 EWS and LIG homes across 37 locations in Surat, has threatened to withdraw Rs. 359 crore worth of fixed deposits from a host of commercial banks unless they provide housing finance to economically weaker section (“EWS”) and low income group (“LIG”) families. Unfortunately, the banks have been refusing to grant low-income people housing loans on account of a lack of proper documentation.

This lack of financial support from mainstream banks and HFCs is precisely why MHFC was actually set up. We have already financed hundreds of informal sector families in Surat who do not have any income proof documents and would be very willing to support successful SMC allottees who require a loan and are from our segment (financially excluded lower income families) subject to terms and conditions. 

Thus, for more details on loans available, please call our branch manager in Surat - Jignesh Patel on 9016507947 - or email us on

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 Suraj Pawar - on 8879543963 - or email him on or of course may also contact our Head Office (Mumbai) on (website