Further to the Ministry / Budget announcement earlier this year, the RBI has announced the specific ECB guidelines for low income housing developers, and housing finance companies (which on lend for individual housing loans less than 25 lakhs) - see links to news articles below
Tuesday, December 18, 2012
RBI guidelines for External Commercial Borrowings ("ECBs") - to finance low income housing
Further to the Ministry / Budget announcement earlier this year, the RBI has announced the specific ECB guidelines for low income housing developers, and housing finance companies (which on lend for individual housing loans less than 25 lakhs) - see links to news articles below
Thursday, October 18, 2012
RBI guidelines on Priority Sector Lending ("PSL")
major changes in yesterday's RBI notification re revised PSL guidelines - esp for Housing Finance Companies like MHFC - see below links for more information:
Business Standard news article
Hindu news article
and the detailed RBI notification itself
but in summary, all bank loans to housing finance companies ("HFCs") — approved by the NHB for their refinance — for on-lending for the purpose of purchase, construction and reconstruction of individual dwelling units subject to an aggregate loan limit of Rs.10 lakh per borrower, would come under priority sector lending.
we hope that this does have a big impact on lending by HFCs to weaker sections - for info, all loans granted by banks to MHFC for onlending will qualify for PSL lending - with sole focus on lower income (and typicaly informal sector) families, MHFC's cap on loan amount is in any case 10 lakhs (in fact average loan today is much lower at about 4.3 lakhs).
Business Standard news article
Hindu news article
and the detailed RBI notification itself
but in summary, all bank loans to housing finance companies ("HFCs") — approved by the NHB for their refinance — for on-lending for the purpose of purchase, construction and reconstruction of individual dwelling units subject to an aggregate loan limit of Rs.10 lakh per borrower, would come under priority sector lending.
we hope that this does have a big impact on lending by HFCs to weaker sections - for info, all loans granted by banks to MHFC for onlending will qualify for PSL lending - with sole focus on lower income (and typicaly informal sector) families, MHFC's cap on loan amount is in any case 10 lakhs (in fact average loan today is much lower at about 4.3 lakhs).
Saturday, September 8, 2012
Friday, September 7, 2012
Tata Housing New Haven Compact - Ahmedabad
Tata Housing launches its next phase in its affordable housing project in Ahmedabad - called New Haven Compact - for info, prices start at 12.4 lakhs for a 1 BHK home.
For detailed info, see company's website:
New Haven Compact - Tata Housing link
This is an automatically 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 Ahmedabad - Atul Vaishyak on 9067336929 - or email us on contact@mhfcindia.com
For detailed info, see company's website:
New Haven Compact - Tata Housing link
This is an automatically 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 Ahmedabad - Atul Vaishyak on 9067336929 - or email us on contact@mhfcindia.com
Thursday, September 6, 2012
CARE credit rating to MHFC - "BBB" for 50 cr long term debt
see link below to CARE's credit rating of MHFC
CARE Press Release
CARE Press Release
Thursday, August 23, 2012
ECBs for Housing Finance Companies
announcement re liberalising norms for External Commercial Borrowings ("ECBs") - see links to articles below - it seems that HFCs will be permitted to raise ECBs to finance low income housing projects.
Business Today article
Mint article
Business Today article
Mint article
Sunday, July 15, 2012
Karmm Residency - Shahapur / Mumbai
Ad in HT Mumbai this morning for Karrm Residency project - which has flats starting at 6.71 lakhs - approved by MHFC.
HT Mumbai Front Page
Karmm Residency Website
Informal sector customers who do not have documentation to prove incomes and looking for financing can approach our Loan Officer Gulab Patil on 9167220732 (or email contact@mhfcindia.com) to check MHFC (www.mhfcindia.com) loan terms and conditions.
HT Mumbai Front Page
Karmm Residency Website
Informal sector customers who do not have documentation to prove incomes and looking for financing can approach our Loan Officer Gulab Patil on 9167220732 (or email contact@mhfcindia.com) to check MHFC (www.mhfcindia.com) loan terms and conditions.
Saturday, May 5, 2012
Thursday, May 3, 2012
NEW MHADA LOTTERY - 2593 FLATS
MHADA to open fresh lottery of about 2,600 flats on May 31, 2012 - see below link for more details.
HT article
and for the actual application go to:
MHADA lottery application page
As already discussed in earlier posts, MHADA is an automatically approved developer for MHFC. Hence, for housing loans (of max 10 lakhs) on MHADA 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).
HT article
and for the actual application go to:
MHADA lottery application page
As already discussed in earlier posts, MHADA is an automatically approved developer for MHFC. Hence, for housing loans (of max 10 lakhs) on MHADA 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).
Wednesday, April 25, 2012
Tuesday, April 24, 2012
Tata Shubh Griha Ahmedabad - allotment
Tata Housing has just declared the allotment of the 950 Shubh Griha flats (1 RK / 1 BHK) being sold at its new Ahmedabad project through a public lottery, which was heavily oversubscribed.
For a list of the successful applicants, please click on
Tata Shubh Griha Ahmedabad allottees
and for more information, news article below
Hindu Business Line article on lottery results
Of course, this is an approved project for MHFC and hence, we will finance successful allottees (subject to terms and conditions - for more details, please call our officer in Ahmedabad - Atul Vaishyak on 9067336929 - or email us on contact@mhfcindia.com).
Those who have not been able to apply or have been unsuccessful in the lottery process, but fit MHFC criteria of allotment (need financing upto 80% of cost, financially excluded, buying for primary residence use and not as an investment) can apply under the MHFC special quota (of 100 flats) from Tata Housing, which we will be allotting on a first come first served basis.
For a list of the successful applicants, please click on
Tata Shubh Griha Ahmedabad allottees
and for more information, news article below
Hindu Business Line article on lottery results
Of course, this is an approved project for MHFC and hence, we will finance successful allottees (subject to terms and conditions - for more details, please call our officer in Ahmedabad - Atul Vaishyak on 9067336929 - or email us on contact@mhfcindia.com).
Those who have not been able to apply or have been unsuccessful in the lottery process, but fit MHFC criteria of allotment (need financing upto 80% of cost, financially excluded, buying for primary residence use and not as an investment) can apply under the MHFC special quota (of 100 flats) from Tata Housing, which we will be allotting on a first come first served basis.
Tuesday, March 20, 2012
Tata Shubh Griha Ahmedabad oversubscribed - DNA article
Tata Housing has closed its application process for its Shubh Griha project in Ahmedabad in just 15 days. It is believed to have sold close to 10,000 forms for the 1,000 approx flats on offer - a huge success reflecting the demand for quality low income housing priced at approx 10 lakhs and of course a project by a highly reputed group.
DNA article on Tata Shubh Griha oversubscription
Those who have not been able to apply through the lottery process or feel unsure of allotment, and fit MHFC criteria of allotment (need financing upto 80% of cost, financially excluded, buying for primary residence use and not as an investment) can apply under the MHFC special quota (of 100 flats) from Tata Housing, which we will be allotting on a first come first served basis.
For more details, please call our officers in Ahmedabad - Atul Vaishyak on 9067336929 - or email us on contact@mhfcindia.com
DNA article on Tata Shubh Griha oversubscription
Those who have not been able to apply through the lottery process or feel unsure of allotment, and fit MHFC criteria of allotment (need financing upto 80% of cost, financially excluded, buying for primary residence use and not as an investment) can apply under the MHFC special quota (of 100 flats) from Tata Housing, which we will be allotting on a first come first served basis.
For more details, please call our officers in Ahmedabad - Atul Vaishyak on 9067336929 - or email us on contact@mhfcindia.com
Monday, March 19, 2012
Anandgram project - Pune - some pictures
MHFC recently visited the Anandgram project (by Vastushodh developers) in Yavat, Pune - some new pictures (of the finished project) attached.
Budget 2012 - proposals related to low income housing / finance
Summary of Budget 2012 proposals which affect low income housing (developers / financing) :
• ECB (overseas borrowings) permitted for low cost affordable housing projects;
• Setting up of a Credit Guarantee Trust Fund to ensure better flow of institutional credit for housing loans;
• Enhance provisions under Rural Housing Fund from Rs 3000 crore to Rs 4000 crore;
• Extension of Interest Subvention Scheme of 1% on housing loan up to Rs 15 lakh for another year; and
• Enhancement of the limit of indirect finance under priority sector from Rs 5 lakh to Rs 10 lakh.
The ECB proposal is new and will positively impact developers who might enter this market since cheaper financing options will be made available - though we need to see the details of what constitutes low income housing when the RBI notification is issued.
RHF increase will help MHFC as will the raising of the indirect finance limit - as all our loans are less than 10 lakhs and generally to weaker sections (same objective as the RHF).
• ECB (overseas borrowings) permitted for low cost affordable housing projects;
• Setting up of a Credit Guarantee Trust Fund to ensure better flow of institutional credit for housing loans;
• Enhance provisions under Rural Housing Fund from Rs 3000 crore to Rs 4000 crore;
• Extension of Interest Subvention Scheme of 1% on housing loan up to Rs 15 lakh for another year; and
• Enhancement of the limit of indirect finance under priority sector from Rs 5 lakh to Rs 10 lakh.
The ECB proposal is new and will positively impact developers who might enter this market since cheaper financing options will be made available - though we need to see the details of what constitutes low income housing when the RBI notification is issued.
RHF increase will help MHFC as will the raising of the indirect finance limit - as all our loans are less than 10 lakhs and generally to weaker sections (same objective as the RHF).
Friday, March 2, 2012
Poddar Developers - Samruddhi Evergreens - Badlapur
Phase II of Poddar Housing's project at Badlapur has just opened. In this phase, the builder has on offer 1 RK flats starting from 9.3 lakhs and 1 BHK flats starting from 14.5 lakhs - prices inclusive of all charges, regn fees, etc.
For more information on the project incl the payment schedule and facilities, please see the company's website.
For financing up to 10 lakhs max on this project, especially for informal sector customers who lack documentation to prove incomes, please email us on contact@mhfcindia.com OR call our Loan Officer for the project - Gulab Patil on 9167220732.
For more information on the project incl the payment schedule and facilities, please see the company's website.
For financing up to 10 lakhs max on this project, especially for informal sector customers who lack documentation to prove incomes, please email us on contact@mhfcindia.com OR call our Loan Officer for the project - Gulab Patil on 9167220732.
Thursday, March 1, 2012
Tata Housing Shubh Griha - Ahmedabad launch / MHFC quota
Tata Housing has just announced its next Shubh Griha project - which is typically aimed at the lower middle income / informal sector - in Ahmedabad - with 1 RK, 1 BHK and 1.5 BHK flats in the range of 293 sqft to 457 sqft (carpet area), priced between Rs 7.92 lakh and Rs 12.33 lakh.
For more information, please see links to the company website / press announcements below:
Shubh Griha website
Tata Housing Press Release
Hindu Business Line article
Like its earlier similar projects in Vashind and Boisar, flats are being sold through a public lottery and is expected to be oversubscribed several times over.
This will of course be an approved project for MHFC and we will finance successful allotees (subject to our terms and conditions). For more details, please see our website www.mhfcindia.com or call our officer in Ahmedabad - Atul Vaishyak on 9067336929 - or email us on contact@mhfcindia.com
Like in Vashind, MHFC also has been given a special quota by Tata Housing of 100 flats (80 1 RK / 20 1 BHK) on the project (which we will be allotting on a first come first served basis) so interested buyers who meet our criteria (first time buyers who need a primary residence / financially excluded) can call our officers for a chance to get an allotment.
For more information, please see links to the company website / press announcements below:
Shubh Griha website
Tata Housing Press Release
Hindu Business Line article
Like its earlier similar projects in Vashind and Boisar, flats are being sold through a public lottery and is expected to be oversubscribed several times over.
This will of course be an approved project for MHFC and we will finance successful allotees (subject to our terms and conditions). For more details, please see our website www.mhfcindia.com or call our officer in Ahmedabad - Atul Vaishyak on 9067336929 - or email us on contact@mhfcindia.com
Like in Vashind, MHFC also has been given a special quota by Tata Housing of 100 flats (80 1 RK / 20 1 BHK) on the project (which we will be allotting on a first come first served basis) so interested buyers who meet our criteria (first time buyers who need a primary residence / financially excluded) can call our officers for a chance to get an allotment.
Monday, February 27, 2012
New DBS project - Surat
DBS, one of our partner developers (2 approved projects in Ahmedabad - Umang Narol and Umang Lambha), have just launched their next project in Surat (opp the Sachin railway station).
More details will be available shortly on the DBS and MHFC website but in summary, there are 128 1 RK flats and 676 1 BHK flats on offer priced at approx Rs 4.11 lakhs and Rs 7.11 lakhs respectively (excl stamp duties and charges), which we believe is well priced for our segment.
The launch was over the weekend - and from early reports, the response has been excellent - the builder has received bookings for about 50% of the flats already (with 1 RK flats believed to have sold out completely). Encouragingly, buyers are typically from the informal sector (MHFC customer segment).
For more information on the project esp on MHFC loan terms and conditions, please call our branch manager in Surat - Jignesh Patel on 9016507947 - or email us on contact@mhfcindia.com.
More details will be available shortly on the DBS and MHFC website but in summary, there are 128 1 RK flats and 676 1 BHK flats on offer priced at approx Rs 4.11 lakhs and Rs 7.11 lakhs respectively (excl stamp duties and charges), which we believe is well priced for our segment.
The launch was over the weekend - and from early reports, the response has been excellent - the builder has received bookings for about 50% of the flats already (with 1 RK flats believed to have sold out completely). Encouragingly, buyers are typically from the informal sector (MHFC customer segment).
For more information on the project esp on MHFC loan terms and conditions, please call our branch manager in Surat - Jignesh Patel on 9016507947 - or email us on contact@mhfcindia.com.
Subscribe to:
Posts (Atom)