This applicant operates a small shoe stall in one of the main markets of Udhana, a sub-city of Surat, Gujarat. She has been working here - along with her husband - for the past 25 years.
They currently stay in a rented house (paying a monthly rent of Rs. 2,500) with their two children. Recently they booked a 2 BHK flat in an affordable housing project & applied to MHFC for a Rs. 8.5 lakh home loan.
We visited their stall in Surat to gain a better understanding of their business. After inquiring about their daily sale, prices of different types of products, margins, footfall and other variables, we were confident that their monthly income of Rs. 24,000 was enough to cover our EMI while leaving more than enough for their household, education & rental expenses.