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. 

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. 

Mint Article - low income housing

Interesting article this morning (July 28, 2014) on renewed interest from developers in low income / affordable housing -  from leading developers like the Mahindra Group, Ajmera and Shapoorji Pallonji. With more financing available (from several HFCs like MHFC focussed on this segment) and an enabling government environment, we believe that this sector should see many more such plans over the next year.

Mint Article - July 28, 2014

Virar - new projects approved - 2013

Western line stations like Virar / Naigaon / Nalasopara continue to be the most popular choice of residence for most of MHFC's Mumbai customers (looking to buy flats less than Rs 10 lakhs).

Thus, this is to inform that MHFC has recently approved several (about 10) new projects in Virar East - generally smaller (about 60 to 70 flats) when compared to our usual larger size approved projects. Not sure how many of these flats are still available but for those interested, please call our Loan Officer Gulab Patil on 9167220732 for assistance (info on status of the projects and flats availability and also terms and conditions of MHFC financing).