Customer Story: salon owner, Chhattisgarh

This applicant has been running a salon in Raipur, Chhattisgarh for the past 10 years. "Shri Laxmi Beauty Salon" is located on the main road right near a bus stand, so the salon has a strong customer footfall.

He offers a variety of services, but the most popular ones are haircuts (Rs. 30), shaves (Rs. 20) and massages (Rs. 80). He earns a daily gross income of Rs. 1500-2000 out of which he pays Rs. 150 to each of his 5 employees and incurs Rs. 300 on material expenses (powder, cream, face wash, blades etc).

After paying rent and electricity, his net monthly income amounts to Rs. 11,000 - a conservative estimate considering his daily income doubles on Sundays and other holidays.

As a housing finance company, cash flow analysis of the applicant's business is one of the many variables we take into consideration when providing housing loans to the informal sector. This applicant will be using his loan to finally move out of his current property - where he lives in a large joint-family. The lack of space prompted the desire to move, the customer's stable income made it possible.

Customer Story: cycle rickshaw driver, Chhattisgarh

For the past 20 years, this applicant has worked as a cycle rickshaw driver in Rajnandgaon, Chhattisgarh. He charges Rs. 10-50 per trip and makes around Rs. 150-200 per day.

His son is the only other earning member in the family of four (which includes the applicant's wife and daughter). Working at a local garment store, he earns a monthly salary of Rs. 7000.

Since the beginning of our operations in ‪Chhattisgarh‬ last year, MHFC has served several low income families in the region. Watch this space for more stories!

Credit Camp + CLSS in Mungi, Chhattisgarh

MHFC recently set up a stall at a credit camp held in Mungi, Chhattisgarh where loan officers interacted with potential customers about our services. MHFC provides housing finance to low income informal sector customers who lack proper income documentation. We provide loans to customers buying flats in one of our approved projects, located across 6 states in India. 

At the credit camp, loan officers also explained to customers the advantages of the recently announced Credit Linked Subsidy Scheme under the Pradhan Mantri Awas Yojana (Housing for All). Eligible customers will receive a subsidy of upto a maximum of Rs. 2.2 lakh on their home loans through an interest rate subsidy of 6.5% p.a. Eligibility requirements include woman ownership of the flat being bought, a household income of less than Rs. 6 lakh a year & not owning a house anywhere in the country. Aadhar cards are mandatory to apply for the subsidy under CLSS. No processing fees will be collected on these loans, however out of pocket expenses will be recovered through the loan amount.    

If you would like to avail of an MHFC home loan to buy a flat in one of our projects in Chhattisgarh or find out more about CLSS, you may reach out to us at contact@mhfcindia.com or contact Mr. Shekhar Kumar - one of our loan officers in the Chhattisgarh region - on +91 9617660066.  

Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana / Housing for All

MHFC home loans can now receive a subsidy of upto Rs. 2.2 lakh for all potential customers who are eligible under the Pradhan Mantri Awas Yojana's Credit Linked Subsidy Scheme !! 

This is great news for urban, informal sector, low income customers - who will effectively be paying an interest rate of 5.5-6.5% p.a. We encourage all potential customers who are looking to buy a flat in MHFC-approved affordable housing projects to get in touch with a loan officer in the region. Contact information can be found below: 

Mumbai: Gulab Patil  +91  9167220732

Pune: Suraj Pawar +91 8879543963

Surat: Jignesh Patel +91 9016507947

Ahmedabad: Kashyap Patel +91 9925045276

Bhopal: Deepak Sarathe +91 9755333018

Jaipur / Rajasthan: Vineet Sharma +91 9829071784

Kolkata: Subrata Biswas +91 9831433440

Raipur / Chhattisgarh:  Shekhar Kumar +91 9617660066

To find out more about PMO India's CLSS scheme & eligibility requirements (woman owner, household monthly income less than Rs. 50,000 per month, not owning a house anywhere in the country), please send us a mail at contact@mhfcindia.com. We would encourage all eligible customers to take advantage of this opportunity (works to an approx 35% reduction in the loan amount) and take the final step towards home ownership. 

CHB home loan and credit camp in Bilaspur

Our team in Chhattisgarh recently took part in another credit camp held by the Chhattisgarh Housing Board (CHB) in Bilaspur. MHFC is currently financing several CHB projects across the state - we are more than willing to sanction loans to low-income informal sector customers who lack proper income documentation / salary slips etc. Our competitive interest rates, simple home loan process and effective service have resulted in a successful track record in Chhattisgarh, and we hope to build on this success over the coming years. 

At credit camps, our loan officers sit with customers and explain loan terms and conditions, the loan application process and documentation requirements amongst other things. A few pictures of the camp can be found below:

 

For more information about projects in Chhattisgarh, please contact our loan officer in the region - Mr. Shekhar Kumar - at shekhar.kumar@mhfcindia.com or +91 9617660066. Alternatively, you could also contact us on 22660427 / 0069, email us at contact@mhfcindia.com or visit our website (www.mhfcindia.com) for more information. You could also fill out this form to help us serve you better.

MHFC to provide home loans to CHB allottees

MHFC is currently financing several Chhattisgarh Housing Board (CHB) projects across the state - we are more than willing to sanction loans to low-income informal sector customers who lack proper income documentation / salary slips etc. 

Over the past several months, MHFC has taken part in credit camps across Chhattisgarh - our team recently took part in a camp in Raipur where we had numerous inquiries about our projects, loan terms and conditions and overall home loan process. Some pictures of the camp can be found below: 

For more information about projects in Chhattisgarh, please contact our loan officer in the region - Mr. Shekhar Kumar - at shekhar.kumar@mhfcindia.com or +91 9617660066

Alternatively, you could also contact us on 22660427 / 0069, email us at contact@mhfcindia.com or visit our website (www.mhfcindia.com) for more information. You could also fill out this form to help us serve you better.