MP Housing Board - launch of EWS / LIG housing flats

The MP Housing Board ("MPHB") has just launched approx 900 flats (432 EWS / 480 LIG) - see link below to the pdf of the brochure - which indicates that price of EWS flat is at 5.45 lakhs and price of LIG flat is at 12.31 lakhs. The scheme was launched on Nov 10, 2014 and is expected to be open for a month.

MP Housing Board scheme - pdf

Of course, these will be approved projects for MHFC, which is already working closely with and supporting allottees in Bhopal Development Authority ("BDA") schemes for EWS / LIG families - and thus, we will finance successful MPHB allottees as well 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 Mr Deepak Sarathe our representative in Bhopal on 97553-33018 or email us on contact@mhfcindia.com.

Poddar Developers - Atgaon - Navjeevan

Half page ad in the Hindustan Times (Mumbai edition) this morning re an approved project of MHFC - an affordable housing project by Poddar Developers  - "Navjeevan" at Atgaon (near Shahpur), under which 1 RK flats start at 7.8 lakhs and 1 BHK at 10.20 lakhs. 

For more information on the project, please see the company's website. 

For financing 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 further information on terms and conditions of MHFC (www.mhfcindia.com) financing. 

New Launch - Mahindra Lifespaces "Happinest"- Boisar

Mahindra Lifespaces affordable housing project - "Happinest" has just launched - in Boisar. 

Spread across over 14 acres, the project offers 1RK, 1 and 2 BHK apartments in the range of 351 sqft to 695 sqft and would have a total of 800 units, and will be priced between Rs 9.1 lakh to Rs 17.5 lakh.

In the first phase, where construction will commence from next week and is scheduled to be completed in a year, the company will build nearly 359 units. 

For more information on the project, please see the company's website and this news article in the Economic Times.

We believe that this is a rare opportunity to own a quality home from a leading business group at a reasonable price within the Mumbai region and will be happy to support customers from our segment who are interested in this project.  

Thus, for financing up to 15 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 further information on terms and conditions of MHFC financing. 

Launch of Amrita Abashan II - Sonapur, Kolkatta

BGA Realtors, which is an existing builder partner of MHFC in Kolkatta has just launched the next phase of its Amrita Abashan project - Phase II - under which it is offering 240 flats (468 sq ft in size) priced between 8.1 lakhs and 8.65 lakhs respectively). Phase I had offered 768 flats.  

See link below for more details on the project
News article - BGA Amrita Abashan II launch

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 - Subrata Biswas 9831433440 - or email him on subrata.biswas@mhfcindia.com.  

DDA Housing Scheme 2014 opens - 25,034 flats on sale

Some announcements regarding new MHADA flats that will be available in 2014 - about 25,000 flats of which about 90% expected to be under EWS (pricing expected at between 7 and 11 lakhs).

Times of India
Economic Times
Business Today

"We are offering 25,034 flats in the 2014 scheme out of which 22,627 would be one-bed room apartments." said Balvinder Kumar, Vice-chairman, DDA. 

"The 'DDA Housing Scheme 2014' would be open to applicants from September 1 and the last date to receive the application is October 9. The draw of lots would preferably be taken out within 20 days of the close of the scheme," a senior DDA official said, adding, applicants can also apply online. 

DDA for the first time has also introduced a five-year lock-in period for ownership of the flats, to cut out the middleman and reduce the scope of speculative buying. Interestingly, a senior official said that from now on, DDA will adopt a practice of announcing a housing scheme only when the flats are in "ready to move-in" condition. "Learning from past experience when flats could not be handed over to allottees even months after draws were held, and we faced a lot of criticism, this time we will announce dates only after ensuring that the flats are ready to move in," said a senior official.

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) after allotment and when a loan is required.