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

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).

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.

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.