More low-cost houses on the anvil
Builders are cashing in on the needs of the middle class and are focusing on affordable housing, reports Naresh Kamath.india Updated: Jan 03, 2009 01:44 IST
Builders are cashing in on the needs of the middle class and are focusing on affordable housing.
Lodha builders, one the reputed names in luxury housing, has registered a booking of more than 500 consumers in the last 15 days for its Casa Univis housing project in Ghodbunder Road at Thane. Rustomjee Builders have got 183 bookings in one month for its project at Virar.
The Tanaji Malusure City at Karjat had more than 66,000 people applying for houses. Even the Haware group’s project at Kalamboli, New Mumbai with 550 flats was booked in three days last month.
The Lodha project launched at price of Rs 2,997 per sq ft has been a resounding success with 1 bedroom-hall-kitchen (1BHK) and 3 BHK all sold out. “The whole place has been designed to meet the growing aspiration of the middle class and give him the value of money,” said Abhishek Lodha, director, Lodha Group.
The Mantri Group will soon launch three affordable housing projects in places such as Ambernath, Panvel and Virar. “The project was conceived after extensive research, which pointed out to the large-middle class market, which had still not been tapped by the builders,” said Sunil Mantri, chairman, Sunil Realty Limited.