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

New project approved in Virar (East)

MHFC has just approved a project in Virar (East) – Sanskruti Apartments. This is by the same builder of an earlier approved project – Vaishnavi Sai Complex – also in Virar (East) – where all 328 flats were sold out. This new project is small - 67 flats of which about 30 are in the smaller 1 RK (approx 350 to 400 sq ft size) category and thus less expensive (starting at about Rs 6.2 lakhs all inclusive). Booking opened Jan 1 - and MHFC has negotiated for its clients a special rate (Rs 50/sq ft less than the public rate - or approx Rs 20,000 savings) for a month. We are in discussions with vendor associations, NGOs and MFIs, who deal with the informal sector, and expect to help place the flats by the end of Jan.

For detailed information, see http://www.mhfcindia.com/approved-project.html OR please call our rep at the site, Savio d'Souza on 9821730702.

Note: MHFC is NOT a builder, and is not responsible for the quality and title of properties even if approved by MHFC for customer financing – buyers need to make independent verifications. We also do not receive any commissions from the builder. Our interest in spreading the word is solely to bridge the information gap – to make those in the informal sector aware of projects aimed at the LIG segment, and further, to make them aware of financing available.