MHADA Nagpur division to build 20,000 affordable housing units over next 5 years

The Nagpur division of the Maharashtra Housing and Area Development Authority (MHADA) recently announced a plan to build 20,000 affordable homes for lower and middle income groups over the next 5 years. The state recently cleared decks for handing over 11 plots, that add up to little over 5.5 hectares, to MHADA. 

MHADA is an automatically approved developer for MHFC. Hence, for housing loans on MHADA 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, 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. 

MHADA Lottery 2013

MHADA 2013 lottery winners of 1244 flats were announced today - out of 87,647 valid applications received (an average of 70 applicants per apartment) - please see below link to MHADA website for details.

MHADA website with lottery details

As already discussed in earlier posts, MHADA is an automatically approved developer for MHFC. Hence, for housing loans (of max 10 lakhs) on MHADA 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).

MHADA sanctions 2736 affordable homes for Mumbai

MHADA budget announced today - to build 2736 low cost homes in Mumbai - and also has received sanction to buy land in Pune, Nagpur, Aurangabad and Amravati - see below link to 2 articles for more details.

HT article - March 8, 2013 - MHADA 2736 low cost homes
HT article - March 8, 2013 - MHADA could build 40,000 houses

As already discussed in earlier posts, MHADA is an automatically approved developer for MHFC. Hence, for housing loans (of max 10 lakhs) on MHADA 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).

MHADA to send SMS alerts, emails to lottery winners

"After making online applications compulsory, the Mhada is planning a series of initiatives to make things smoother for applicants, and its IT cell is conducting trials so that they can be implemented for its next lottery, which is to be conducted this May when it puts up 4,200 houses on the block."

HT Article - Jan 21, 2013 - MHADA to send SMS alerts, emails to lottery winners

As already discussed in earlier posts, MHADA is an automatically approved developer for MHFC. Hence, for housing loans (of max 10 lakhs) on MHADA 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)."

NEW MHADA LOTTERY - 2593 FLATS

MHADA to open fresh lottery of about 2,600 flats on May 31, 2012 - see below link for more details.
HT article

and for the actual application go to:
MHADA lottery application page

As already discussed in earlier posts, MHADA is an automatically approved developer for MHFC. Hence, for housing loans (of max 10 lakhs) on MHADA 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).

MHADA Flats Lottery Announced...

MHADA Lottery results announced, please visit www.mhfcindia.com for loan inquiries or call +91 22 22660427 / 0069

MHADA 2011 flats go online

4000 MHADA flats go on sale online this week (80% of which are meant for the LIG segment - most of which will be in Malad) - price starts at 5.93 lakhs.

Over 5 lakh applicants expected - forms go on sale from Wed, April 27 - at designated Axis Bank branches.

For more details, see link to newspaper article below:
DNA article on online sale of MHADA flats

As already discussed in earlier posts, MHADA is an automatically approved developer for MHFC. Hence, for housing loans on MHADA 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).

MHADA flats - 2011

Some announcements regarding new MHADA flats that will be available in 2011 - about 4500 flats of which 3700 under EWS / LIG categories - to be announced shortly.

HT article on 4500 MHADA homes coming up in 2011

HT article on HIG quota being limited to incomes not more than Rs 40,000 per month

MHADA is an automatically approved developer for MHFC. Hence, for housing loans on MHADA 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).

Demand for EWS / LIG - new projects sold out

Re the Sanskruti apartments project (see blog post dated Dec 19, 2009), for 67 flats - this has already been sold out (in less than a month of being on offer - even without any real marketing by the builder / agent) - another sign of the demand for clear title, decent quality homes in the Rs 5-7 lakh price range in the Virar area.

Also, in the latest MHADA round (for sale of 3394 EWS / LIG homes), which closed Jan 31 - the total applications received are about 3.3 lakhs - or over 100 apps recd for each flat on offer.

For more info, see link below:
TOI article on MHADA sales - Jan 2010

Housing Boards

While its been very encouraging to see private developers enter the urban low income housing space (defined by us as being flats of approx Rs 5-6 lakhs), and we certainly want to partner with these developers, there is no question that in terms of numbers, the state continues to be the largest developer. While housing boards and local development authorities have always built for the EWS / LIG segments, in recent years, due to the govt's inclusion focus and the availabiity of JNNURM finance (for 62 cities), there have been several urban housing programs, which completely eclipse the numbers from the private sector. For eg - the state of Andhra has plans to build over 170,000 homes, Rajasthan over 100,000, cities like Ahmedabad, Surat, Mumbai, Lucknow have plans in the tens of thousands. More importantly, the state is driven by social objectives and thus irrespective of economic swings, will remain focussed on this segment. Further, while there will be some leakages, the buyer will be from LIG segments (as against buyers from higher income segments, including investors, being attracted to the private projects meant for LIG segments). Thus, if MHFC has to make impact, it will probably have to come from tie ups with state agencies like MHADA / DDA, state housing boards, municipal corporations, etc who are building for the weaker sections and need to fill the last gap of buyer financing.

MHADA flats - tribal category "scam"

this story is quite ironical - builder allegedly makes 200 applications for MHADA homes under the scheduled tribes reserved category - and then has filed a police complaint against the 185 tribals who did not get allotted MHADA flats and encashed the refund pay order, which was sent to them - full story below.

HT article