IIFL Home Finance, India's leading affordable home finance companies, announced a strategic partnership with Maharashtra Housing Development Corporation Ltd. (MHDC) to promote affordable housing projects and facilitate home financing in Maharashtra. The collaboration, formalised through a Memorandum of Understanding (MoU) signed in the presence of Mr. Monu Ratra, IIFL Home Finance 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.

Monu Ratra, CEO and ED, IIFL Home Finance Ltd., comments on the partnership, "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.”

Speaking on the partnership, MHDC adds, "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."

By combining IIFL HFL's financial expertise with MHDC's deep-rooted presence in Maharashtra, this initiative is set to make a real impact on affordable housing and contribute to the state's economic growth.