link to blog by Bala, Director, DBS Affordable Housing - it has information on the launch of the project in Ahmedabad - which saw about 2000 visitors on opening day.
Tuesday, May 4, 2010
Sunday, April 25, 2010
New Project - Ahmedabad - DBS
We met with DBS Housing on Friday. This is a new company - formed by a team of professionals who are passionate about creating homes for lower income families. Their approach is bottom up - in that their plan for a township in Ahmedabad (near Vatva) is based on views from the community - and after a lot of research on needs of expected end users. In fact, they have a tie up with Saath (http://www.saath.org/saath/index.php) which works very closely with communities in Ahmedabad slums to provide integrated solutions in health, education, basic infrastructure, job training etc - and who will spread the word on this project. This is exciting for us as it will probably ensure that buyers on the project will be mostly end users from our target segment - lower income families from the informal sector.
The project opens on May 2 - about 1400 flats (1 RK, 1 BHK and 2 BHK) on offer - price range starting 3, 5, 7 lakhs in each category. It has been conditionally approved by MHFC - final approval will be after receipt of all planning permissions. Our LOs will be on site for the opening to take details of prospective buyers.
More details on DBS and the project on their website - link below:
http://www.dbsaffordablehomes.com/index_files/Page304.htm
The project opens on May 2 - about 1400 flats (1 RK, 1 BHK and 2 BHK) on offer - price range starting 3, 5, 7 lakhs in each category. It has been conditionally approved by MHFC - final approval will be after receipt of all planning permissions. Our LOs will be on site for the opening to take details of prospective buyers.
More details on DBS and the project on their website - link below:
http://www.dbsaffordablehomes.com/index_files/Page304.htm
Wednesday, April 14, 2010
Samruddhi - Poddar Developers - update
There has been a good response for the project in that 600 bookings already made - within a month of launch. However, of this, most bookings are for the 1 BHK category (which was priced at Rs 4.5 lakhs) and less for the 1 RK (priced at Rs 3.5 lakhs). In fact, the surplus bookings for the 1 BHK category have meant that (a) it will be closed quite soon as it seems that only Phase IV flats left in this category and (b) the builder has raised prices to between Rs 4.65 and 4.95 lakhs, depending on the floor. For the moment though, the 1 RK prices have been retained at Rs 3.5 lakhs and the builder has also set up a sample flat at site for viewing in order to generate interest (until now only the 1 BHK sample flat was ready). We still do not have a clear idea on the proportion of investors to end users but MHFC is certainly trying to spread the word among the latter segment so that they come forward to book a flat in what is probably a reasonably affordable project, even for those earning between Rs 8-10,000 Rs per month (the EMI on a Rs 2.8 lakh loan - after the 20% client own contribution of Rs 70,000 - will be approx Rs 3,700 over 15 years).
Wednesday, March 3, 2010
3 New Approved Projects (Mumbai)
MHFC has just approved 3 new projects in and around Mumbai:
1. Samruddhi Complex - by Poddar Housing - this is opp Bhivpuri railway station (one stop before Karjat on the Central line) - will be a township of about 1300 flats - launch price for the 1st phase is 3.5 lakhs for 1 RK and 4.5 lakhs for 1 BHK. Bookings have not yet opened - will open on Gudi Padva (March 16) but given the price and the several features on offer, we expect this to be sold out quite fast.
2. Star City - by Rashmi Housing - at Naigaon - which is 1 stop after Bhayandar on the Western line (3 stops befor Virar). This is also a is a fairly large project - over 1000 flats - more expensive given the attraction of this side - about Rs 2000 per sq ft - which means flats are between 5.7 and 11 lakhs - booking is already open - about 200 flats left for sale - rest all sold.
3. Sathyanagar - by Shriram Housing - at Boisar - which is frankly not practical for those working in Mumbai as it is about 3 hours by train from VT - but just for information, this is a township of about 2800 flats - 1 BHK and 2 BHK flats being priced at between 5.1 and 5.9 lakhs.
For more information, please email on contact@mhfcindia.com and for builder brochures / websites, please see http://www.mhfcindia.com/approved-project.html
1. Samruddhi Complex - by Poddar Housing - this is opp Bhivpuri railway station (one stop before Karjat on the Central line) - will be a township of about 1300 flats - launch price for the 1st phase is 3.5 lakhs for 1 RK and 4.5 lakhs for 1 BHK. Bookings have not yet opened - will open on Gudi Padva (March 16) but given the price and the several features on offer, we expect this to be sold out quite fast.
2. Star City - by Rashmi Housing - at Naigaon - which is 1 stop after Bhayandar on the Western line (3 stops befor Virar). This is also a is a fairly large project - over 1000 flats - more expensive given the attraction of this side - about Rs 2000 per sq ft - which means flats are between 5.7 and 11 lakhs - booking is already open - about 200 flats left for sale - rest all sold.
3. Sathyanagar - by Shriram Housing - at Boisar - which is frankly not practical for those working in Mumbai as it is about 3 hours by train from VT - but just for information, this is a township of about 2800 flats - 1 BHK and 2 BHK flats being priced at between 5.1 and 5.9 lakhs.
For more information, please email on contact@mhfcindia.com and for builder brochures / websites, please see http://www.mhfcindia.com/approved-project.html
Thursday, February 18, 2010
Karjat Visit
We visited Karjat last week - Karjat is about 2 hrs from CST on the central line, however, soon local trains would start running on the harbour line track which will reduce the commute to about an hour and fifteen minutes. As a result a lot of developers have started looking at Karjat to launch new affordable housing projects.
We visited three such projects - all at an early stage; two of them are yet to start construction. But we were quite happy with the price dynamics in the area. As of today, land is quite cheap, and thus a 3.5-4.5 lakh 1-BHK is still feasible. This is great news for a lot of people who earn between 8-15k per month and can afford an EMI of 3-4k per month. While we understand it is difficult to move to Karjat today as it is quite far from the heart of the city, it is a great opportunity to buy a home of your own for later, once good quality infrastructure develops in the area.
In our view, Karjat has the potential to be the Virar of the central line - roughly same commute from Churchgate/CST (once the new line is operational) and much cheaper properties.
All three projects are currently being reviewed by the project approval committee, more details will follow once they are approved. (Tentative launch date - Gudi Padwa - 16th March)
We visited three such projects - all at an early stage; two of them are yet to start construction. But we were quite happy with the price dynamics in the area. As of today, land is quite cheap, and thus a 3.5-4.5 lakh 1-BHK is still feasible. This is great news for a lot of people who earn between 8-15k per month and can afford an EMI of 3-4k per month. While we understand it is difficult to move to Karjat today as it is quite far from the heart of the city, it is a great opportunity to buy a home of your own for later, once good quality infrastructure develops in the area.
In our view, Karjat has the potential to be the Virar of the central line - roughly same commute from Churchgate/CST (once the new line is operational) and much cheaper properties.
All three projects are currently being reviewed by the project approval committee, more details will follow once they are approved. (Tentative launch date - Gudi Padwa - 16th March)
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