Acknowledging the need for social housing, Matheran Realty Pvt Ltd (MRPL), a Mumbai based real estate development company today announced the commencement of sale of Tanaji Malusare City (TMC) located at Karjat. TMC is India's first and largest township dedicated to social housing which will offer quality homes at a minimum of Rs three lakhs. At Rs 999 per sq feet, TMC is perhaps one of the most affordable integrated township in the country. TMC will have 15,000 units spread across 8 million sq ft. The township offers homes with sizes of 300 to 500 sq. ft. with integrated facilities such as schools, hospitals, theatres and retail outlets. The selling price of the basic 225 carpet sq ft house is Rs three lakhs. While allotment will be based on a priority system, application forms will be made available at post offices in Mumbai Suburbs and DHFL Mumbai branches from Aug 12- 20 at a price of Rs 100.
NRIs get price conscious
NRIs (Non Resident Indians) are found to be still interested in lower priced housing projects. This was evident in the 'Indian Property Show' that was held from 12-14 June, 2008 in Dubai. Siddharth Group received a good response for its project Riverwood Park in Dombivali. It is an affordable township project with 4000 flats and shops. A great deal of interest was shown by the NRIs for this project, resulting in a sale of 10 flats during the exhibition.
Further to this, there is a current stream of enquiries from them which only underscores the fact that interest and demand for these kinds of investments remains high.
Subhash Nagar gets a facelift
Mumbai would soon witness one of the biggest real estate development projects at Chembur. The massive project being developed and executed by GA Builders, an 'RNA Corp Group' company would provide new homes to more than 1950 tenants.
The 55-year old Subhash Nagar colony comprises of 57 buildings that house 36 members each. On completion of the mass housing project, the tenants would be re-housed in flats with an area of 320 sq feet, plus 65 square feet in the form of a flowerbed, niche or dry area with all necessary amenities.
RNA has already re-housed tenements in five new buildings, and soon all the tenements would get possession of their new flats.
Manoj John, spokesperson for RNA Corp said, "Considering the sheer scale of this project, we have undertaken an infrastructure enhancement drive that includes setting up of drainage and sewerage facilities, recreation grounds, playgrounds, internal roads, etc. Underground and overhead tanks will ensure uninterrupted water supply."
