Maharashtra Housing and Area Development Authority (MHADA) has signed a Memorandum of Understanding (MOU) with housing finance company HDFC Limited, appointing it as a Most Favored Institution (MFI).
The MOU was signed today by Vikas Desai, Finance Controller and Head of ICT at MHADA and Ajay Sachdewa, Joint General Manager and Head of Central Marketing at HDFC Limited.
The arrangement was initiated by Maharashtra Minister for Housing, Jitendra Avhad, and executed under the guidance of Anil Diggikar, Vice Chairman and CEO – MHADA with a vision to provide affordable housing to all sections of the society along with equally affordable and quick housing finance in a systematic and professional manner.
Renu Sud Karnad, Managing Director – HDFC Ltd said, “MHADA is the most prominent player in Maharashtra when it comes to affordable housing. MHADA over the years through their commitment and dedication have helped the common man in the state of Maharashtra to get their dream homes at affordable prices.”
As an MFI, HDFC Home Loans will be able to promptly contact the successful allottees from all 7 MHADA boards across Maharashtra (Mumbai, Konkan, Nagpur, Aurangabad, Amravati, Pune, and Nashik) for providing financial assistance at competitive interest rates and minimum processing charges. While there is no compulsion on allottees to avail housing finance only from HDFC, the arrangement will make it easier for home buyers to benefit from expert advice on the entire home purchase and finance journey from HDFC Home loan advisors. For the benefit of all MHADA allottees, HDFC has offered a special offer of Rs. 2,500 only on its processing fees for all salaried customers who are purchasing units from MHADA in its current lotteries. It will also be conducting promotional activities in its 76 branches across Maharashtra to increase visibility for MHADA.
