IIFL Home Finance and MHDC Team Up to Accelerate Affordable Housing in Maharashtra

Mumbai, March 18, 2025: Leading affordable home finance company IIFL Home Finance Ltd has announced a strategic partnership with Maharashtra Housing Development Corporation Ltd. (MHDC) to promote affordable housing projects and facilitate home financing in Maharashtra. The collaboration, formalized through a Memorandum of Understanding (MoU) signed in the presence of IIFL Home Finance ED and CEO Monu Ratra along with officials from MHDC, which aims to accelerate the sale of approximately 3,000 tenements under the Pradhan Mantri Awas Yojana 2.0 (PMAY 2.0) within the state.

The partnership leverages MHDC’s housing projects and IIFL HFL’s widespread experience in home financing to make homeownership more accessible to the Economically Weaker Section (EWS) and Lower Income Groups (LIG) of the society. The memorandum signed between two entities aligns with the Government of India’s vision of ‘Housing for All’ and reinforces both organizations’ commitment to affordable housing and financial inclusion.

Said Ratra: “Our collaboration with MHDC marks a significant step toward making homeownership a reality for thousands of families across Maharashtra. By combining MHDC’s housing initiatives with our financial expertise and digital-first approach, we are building a robust ecosystem that supports affordable housing in the state. This partnership reflects our commitment to financial inclusion and aligns with the government’s ‘Housing for All’ initiative. Through MHDC’s extensive network, we aim to reach even the most remote corners of the state, making affordable housing more accessible and simpler for people.”

MHDC added, “The partnership with IIFL Home Finance is a crucial step towards our mission to provide quality and affordable housing to the people of Maharashtra. By integrating IIFL HFL’s financing solutions with our housing projects, we’re simplifying the path to homeownership for thousands of families. Together, we’re not just building houses; we’re building communities and contributing to the economic growth of our state.”