Micro Housing Finance Corporation (MHFC), a housing finance company which provides loans to lower income families in urban areas has announced that it recently crossed the Rs 10 Crore disbursements mark. Micro Housing Finance Corporation has also tied up Tata Housing for it’s new low cost housing project “Shubh Griha” in Vasind area of Mumbai.
Micro Housing Finance Corporation (http://www.mhfcindia.com) will finance those urban customers who are not able get housing loans sanctioned from bigger banks mainly due to low levels of income and also due to lack of documentation, especially regarding proof of income.
Buyers of Tata Housing “Shubh Griha” projects are normally allotted through a public lottery process, since applications far exceed the flats on offer, but given MHFC’s focus on families that are financially excluded and need primary housing desperately, Tata Housing has made a exclusive reservation of about 208 flats for MHFC customers.
According to the Chairman of MHFC, Mr. Madhusudan Menon, “This partnership is in continuation of our close relationship with Tata Housing, which encourages the MHFC mission of supporting end user buyers from lower income families, on all its projects aimed at this segment. We already have a tie up on the Tata Housing project at Boisar, which was an unqualified success, due to the unmet demand in this segment, and the reputation of the Tata Group for quality.”