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Housing for poor: Loan disbursed
Thursday, June 03, 2010 AT 06:43 PM (IST)

PUNE: Vastushodh Projects Private Limited is setting up a micro township called Anandgram which is housing for urban poor at Yevat on Pune Solapur Highway and financial assistance to the buyers has been provided by the Micro Housing Finance Corporation (MHFC) a start up venture incorporated in 2008. The first disbursement of Rs 21 lakh was handed over by MHFC to Vastushodh Projects on Wednesday.


“With Anandgram we wanted to provide an effective yet affordable option to those who wish to live in better conditions, though slightly away from the city, rather than staying in the over crowded and expensive localities in the city”, said MD, Vastushodh Projects, Sachin Kulkarni.


The buyers from this segment are usually roadside garage owners, butlers, tailors, watchmen, porters, and a rickshaw drivers. They often face a problems in getting home loan mainly due to lack of necessary documents pertaining to income proof. MHFC is providing loans at 12-14% reducing rate of interest.


Director, MHFC Nachiket Shelgikar said, “This is our first project in Maharashtra outside Mumbai. So far, we have cleared over 80 cases with loan amount worth Rs.3.6 crores and few more cases are in the pipeline.” With operations in Ahmedabad and upcoming projects in Surat and Kolkata, they have given out a loans totaling Rs 7 crores.

Vastushodh is also planning a project at Paud village which will have affordable housing for senior citizens and weekend homes for upmarket segment spread over 15 acres with 1200 units.


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