Published by Newsroom November 18th, 2009
in Affordable Housing - New and Newsbytes.
Brigade group,
Bangalore-based real estate developer, is testing the waters of affordable housing with 'Brigade Value Homes' which it plans to launch in
Bangalore. The company is looking to invest Rs 2,000 crore on building compact residential properties in the next four years.
The company will build low-cost residential projects on Kanakapura Road, Devanahalli Town, Mysore Road and K R Puram in Whitefield, totalling 10,000 homes with a base price in the range of Rs 10-26 lakh, of which 2,500 units will be available for registration in the first phase.
A one BHK flat of 500-550 sq feet costs around Rs 10 lakh to Rs 13 lakh. Two BHK with 850-900 sq feet is priced in the range of Rs 17 lakh to Rs 21 lakh while three BHK with 1,050-1,100 sq feet is priced at Rs 21 lakh to Rs 26 lakh. The company plans to launch the properties in the next 6-12 months.
Mumbai: Construction company Patel Engineering has managed to find buyers for nearly 150 of the total 1,400 affordable apartments in its
Bangalore township, Ashwin Parmar, director, business development, said.The studio, 1-BHK (bedroom, hall & kitchen), and 2-BHK apartments measure 360-865 sq ft and cost between Rs 8 lakh and Rs 22 lakh.
The company has not yet allotted flats to the buyers, who have booked the apartments. The 1 million sq ft Patel Smondoville Neotown, the company's first residential project, is located in the Electronic City. Patel Engineering carries out real estate development through its subsidiary Patel Realty India (PRIL).
When a home buyer books an apartment, he pays about 10-20% of the property value upfront and pays the rest through the period of the project. If the developer does not complete the project on time, he pays the buyer a penalty.The company aims to complete the township in two years and plans to have 1,400 affordable apartments.
Published by Newsroom November 11th, 2009
in Affordable Housing - New and Newsbytes.
The Confederation of Real Estate Developers' Associations of India (CREDAI) shared, an outline of the key issues to be discussed at India's premier real estate development conference NATCON 2010 - its 9th National Convention. NATCON 2010, which will commence on and from January 23, 2010 at Dubai, will continue till January 25 and will witness wide participation by industry leaders from India's top developer organisations, finance institutions, fund managers, bankers, researchers, real estate professionals and reputed international experts who will converge at this prestigious convention to discuss on 'Affordability' which is the new paradigm for the Indian Real Estate.
The Convention will also aim at understanding the dynamics of affordable housing in India, the issues involved and probable solutions in the presence of the Chief Guest at the Convention, Mr. Deepak Parekh, Chairman of Housing Development Finance Corporation Limited (HDFC), who also headed the high level task force formed by the Government of India on 'Affordable Housing for All'. Mr. Parekh will be sharing his valuable insights and knowledge on the scenario of affordable housing in India and the way forward in this sector.
Published by Newsroom November 11th, 2009
in Affordable Housing - New and Newsbytes.
New Delhi: Stating that the country would face shortages of 28 million affordable houses by 2010, the Rajya Sabha MP Mr N.K. Singh said that India needs a constitutional amendment to make the right to shelter a fundamental right.
Right to shelter should be embedded in a separate legislation as the problem is complex in view of the fact that housing is essentially a State subject, Mr Singh said at the India Economic Summit here. "The country should look for constitutional amendment for right to shelter as the scale of the problem is very large and is going to intensify. We have a shortage of 24 million affordable houses which will touch 28-million-mark by 2010," he said addressing a session on 'The Affordable Housing Imperative.'
Source: The Hindu Business Line
Published by Newsroom November 9th, 2009
in Affordable Housing - New and Newsbytes.
Even as the Centre is bringing out a Real Estate Regulation Bill to usher in transparency and affordable housing, the Andhra Pradesh government has devised a model 'integrated townships plan to tide over the shortage of affordable housing in the state, state housing minister C Shilpa Mohan Reddy has said. Disclosing this at a one-day seminar on `Housing For All organised by the Confederation of Indian Industry (CII) on Saturday, Reddy said that as part of this plan the state government was in the process of allotting 100 acres of land in each of the municipal corporations, 50 acres in each of the municipalities, and 10 acres in each mandal.
Apart from this, the state government is constructing 26,000 flats in and around
Hyderabad and 50,000 flats across the state under its own 'Rajiv Swagruha scheme', he added. According to Reddy, a recent survey had indicated that nearly 1.76 lakh houses are needed to be built for urban people in the state. The state government is determined to provide the houses for middle-income, urban populace all over the state, starting with
Hyderabad, Vijayawada and Visakhapatnam, he explained.
