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

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