Maharashtra Housing and Area Development Authority (MHADA) has designated Housing Development Finance Corporation (HDFC) as its most-favoured lender, under which the largest mortgage player will extend home loans to MHADA flat allottees at a lower processing fee based on the allotment letter.
For HDFC, this will give further fillip to its affordable housing loans, which already constitutes over 80 per cent of its over eight million customers as its average loan size is only Rs 27 lakh. MHADA, the Maharashtra government arm that is into developing affordable housing signed an agreement with HDFC towards this.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
