"Manipal Housing Finance Syndicate Limited (MHFSL) is an NHB-registered Housing Finance Company with its Registered and Corporate Office located at ""Manipal House,"" Manipal – 576 104, Udupi, Karnataka. The company is a joint venture between Syndicate Bank, a leading public sector bank, and the renowned Manipal Group. MHFSL was established as a Public Limited Company in 1986. It has permission from the National Housing Bank (NHB) to accept deposits from the general public. It is part of the Manipal Group, which was founded by the late Dr. T.M.A. Pai and has made its mark in a variety of fields, including banking & finance, education & health care, printing & publication, hospitality, and information technology, among others. As a fundamental necessity, housing has always had significant socioeconomic implications and continues to play a crucial role in economic development. Housing is a vital component of economic, social, and civic development, ranking third in importance after food and clothing. Multiple occupations and professions derive their direct or indirect income from housing. By investing in housing and acquiring homes, people in general and low-income groups in particular acquire equity that can always be used as collateral to obtain bank financing for income generation. Despite a 33 percent increase in housing stock over the past decade, India continues to struggle with a severe housing shortage. There is a disparity between the supply and demand for housing. According to estimates for the period 2012-2017, urban areas have a 95 percent shortage of economically weaker sections and low-income groups, whereas rural areas have a 90 percent shortage of those living below the poverty line. India's urban population may reach 590 million by 2030, representing approximately 40 percent of the country's total population. Consequently, urban housing shortages will continue to worsen. The government's declared objective is now to address the housing shortage issue by increasing affordability. MHFSL's primary objective is to provide long-term financing for the acquisition/construction/repairs/renovation of homes. The company's objective also includes extending financing on existing properties for business or personal purposes. MHFSL provides a vast selection of mortgage loan products that are tailored to the specific needs of each client."