Pune-based Vastushodh Projects unveils 'Anandgram' project

Vastushodh Projects has recently announced the launch of India's largest affordable housing project by a private developer - AnandGram - located at Bhandgaon on the Pune - Solapur highway. The Pune-based realty company has successfully completed several affordable housing projects, and its most recent announcement should appeal to potential customers. 

The project will come up on a 22 acres picturesque plot at Bhandgaon near Yavat and will have over 2,000 affordable homes spread across 31 modern buildings. 

Some of the amenities at ‘AnandGram - Bhandgaon’ include lifts, community halls, a multipurpose playground, a school, shopping area, solar water heater, solar powered street lights, internal concrete roads and generator backup. Sizes of the homes will range from 249 square feet to 857 square feet, with multiple options that include 1 RK, 1 BHK and 2 BHK flats. More information about the project announcement can be found here. 

MHFC is one of the housing finance companies that has tied up with Vastushodh to provide home loans to customers who are planning on buying flats in this project. MHFC requires minimal documentation / income proof and will be more than willing to support informal sector customers who want to buy a house of their own. For more information regarding home loans for this project, please contact our manager in Pune - Mr. Suraj Pawar - on 8879543963. You may also email him at suraj.pawar@mhfcindia.com or email the head office at contact@mhfcindia.com. For more information about the project, you may call Vastushodh Projects on 9225192252. 

MHFC nominated for Financial Times 'Boldness in Business' Award

The beginning of this year has come with fantastic news for MHFC. We were recently given a 5 star impact rating by the world’s leading impact rating agency, GIIRS. Further, we had a full page story on our work and processes along with a customer story in the world’s leading business newspaper - the Financial Times, London.

We are now happy to share some more lovely news! MHFC has been nominated for the prestigious FT Arcelor Mittal ‘Boldness in Business’ award - which will be given out in London on March 19, 2015 (past nominees for the award include amazing companies like Google, Uber and Twitter).

While these are fantastic external recognitions and a strong endorsement of the work being done at MHFC in financial inclusion, we believe that even more exciting and promising this year is that on the supply side, we see several projects coming up - both in the private and public sector - which would mean increased activity at MHFC and greater opportunities to help many more financially excluded families get a home of their own.

Dreams Nivara - Pune - new pictures of the project

MHFC recently visited the Dreams Nivara project in Pune - some new pictures attached

Updates on the sector...

There has been a lot of activity in the low-cost housing space recently - and this has also been reflected in the press coverage this sector has been getting. Here are a couple of interesting recent articles

A house for 3 lakh now

Jerry Rao's Fourth Act

More Supply

When we started MHFC a year ago, it was very difficult to find any projects catering to our segment (approx price point Rs 5 lakhs and size of flat about 350 sq ft). But it seems that the slowdown in the economy (and the lack of demand in luxury / higher price homes) has been positive for us. The response for the TMC project (initial allotment of 2000 flats received about 66,000 applications) and of course the overwhelming demand for MHADA allotments (about 750,000 applications for less than 4,000 flats) has also probably been inspiring for other builders to enter the fray. In the last month we have seen a little bit of a spurt in announcements. Other than the Virar project in which we are participating, (a) we have visited a site of 100 acres in Ambivali where Neptune Builders plans to build 10,000 affordable homes - in the first phase, 815 flats were offered (of which about 200 will be Rs 4.73 lakhs) and sold out. Based on this response, Neptune plans to announce bookings for the second phase in May (b) we visited another site in Nalasopara where Vini Builders plans to build a "township" of 475 flats - of which a proportion will be sold for 6.55 lakhs - slightly above our range but at least some builders are moving the price line down to our segment's requirements.
In addition to the above, we have received calls (one as far away as Erode, Tamil Nadu) from builders interested in developing specific projects - hopefully this will continue (even when the market improves for other segments) as increase of supply is absolutely crucial.