June 18, 2018
News Superfast

Muthoot Housing Finance Company Limited (MHFCL) expands footprint in Karnataka to enable common man own his ‘dream abode’

Muthoot Housing Finance Company Limted , subsidiary of Muthoot Fincorp Ltd. and the affordable housing finance arm of Muthoot Pappachan Group today announced the opening of its Regional Office at Banshankari 2nd Stage in Bangalore to make affordable housing a reality for the common man, in Karnataka. Presently MHFCL is present at 59 locations across 9 states and one UT. This move comes as a part of its national expansion plan to establish additional 15 new  branches across the southern and northern  regions.  The company is focused on making housing finance available to the common man at attractive terms and conditions . Customers can now avail affordable loan options/schemes like home loans,  self construction, home extension, home improvement loan and  loan against property.

Muthoot Housing Finance Company Limited will be offering a range of home loans starting from purchase from builder, resale purchase, self-construction loans,  home extension, home improvement and loan against property through these branches.

Guided by the GoI’s vision of universal housing for the urban poor under the Pradhan Mantri Awas Yojna with a target of building 20 million affordable houses by 31 March 2022, the company has plans to penetrate further in this Karnataka region through its wide spread distribution network and disburse Rs 750 Crs of loan in the next 3 years. Aligning to the Group’s legacy, MHFCL’s long term vision is to enable every family in India to be able to live their aspiration of owning their own home.  

Mr. Pavan K. Gupta, CEO, Muthoot Housing Finance Company Limited said“The affordable housing market in the state of Karnataka  has been on an upswing owing to increased commercial activity, positive buyer sentiments, infrastructure upgrades and improved job opportunities and this is the right time for us to further strengthen our presence in this market. We are also using technology to quicken the process of approving these loans. Our team today has access to mobility solutions which help them provide a better experience to the customers and deliver solutions at their doorsteps.  A ‘dream home’ is an aspiration for many, but majority of the urban poor population are not able to make this reality because of the unavaiablity of home loans facility  in this segment. Muthoot Pappachan Group’s core credo is to Empower Human Ambitions and Muthoot Housing plans & efforts are all in fulfiing the Group’s vision in letter and in spirit. We aim to reach out to this segment and enable them to get faster and hassle free acccess to their dream abode”.

Talking about expansion plans, Mr. Pavan K. Gupta highlighted, We have set ourselves an ambitious target. In Karnataka itself, we will be opening new branches at Mysore, Hubli, Gulbarga, Davangere and Shimoga in the next 6 months. We also plan to open 10  branches across northern and western states of India.