Category : Affordable Housing

Affordable Housing blog Buying property Product Updates Real Estate RERA Smart Residential Living

20 Most Affordable Housing Projects in Bangalore

Sep 20,2019 / By / No Comment
List of affordable housing projects in Bangalore

“Affordable Housing” is a very popular word these days in the Indian Real Estate Sector. With a fast population shift from rural to urban areas, home buyers look for a property which is economical, affordable and within the reach of their pockets. Therefore, people are getting attracted to the Affordable Housing Scheme. Even in cities like Bangalore, with on average higher purchasing power compared to many other cities such as Delhi, Mumbai, Gurgaon, Chennai, Ahmedabad, and Pune, the demand for affordable housing is increasing at a very fast pace.

While building cost-effective homes is a challenge in itself. To meet the growing demand for affordable housing, the Government of India and all the major real estate players have come up together with a number of low budget housing schemes and plans. Government’s ‘Pradhan Mantri Awas Yojana’, ‘Housing for all by 2022’, and ‘Public-Private Partnerships for Affordable Housing’ are some of the major incentives that are helpful in the growth of the affordable housing sector in India.

Even in cities like Bengaluru, where the average buying capacity of people is higher as compared to other cities, home buyers look for properties that are well within the reach of their pockets.

So, if you are planning to buy affordable homes in Bangalore, here are the top 20 affordable housing projects that offer 1, 1.5, 2, and 3 BHK housing units within your budget:

List of 20 Affordable Housing Projects In Bangalore:

Projects Name

Builders Name

Location

Tata New Haven

TATA Housing Dev Co Ltd

Tumkur Road

Concorde Epitome

Concorde Group

Electronic City Phase II

Concorde Spring Meadows

Concorde Group

Tumkur Road

LGCL Happy Days

LGCL

Off Hennur Road

Pride Palatia Phase I

Pride Group

Hennur Road

Goyal Orchid Greens

Goyal & co.

Kannur

Artha Emprasa Startup City

Artha Property

Hoskote

Avanti by Shriline

Shriline Properties Pvt Ltd

Attibele – Anekal Road

Brigade Bricklane

TooGoodHomes by Provident

Brigade Group

Provident Housing Limited

Jakkur

Thanisandra Main Road

Pride Sunrise

Pride Group

Bannerghatta Jigani Road

Brigade Parkside East

Brigade Group

Sarjapur Road

Brigade Parkside West

Brigade Group

Mysore Road

Iconest 3

Icon Homz

Bommasandra

Provident Park Square Ph-II

Provident Housing Limited

Judicial Layout 2nd Phase

Brigade Parkside North

Brigade Group

Jalahalli

Gallium at Brigade El Dorado

Brigade Group

Bagaluru

Confident Oxygen

Confident Group

Sarjapur Road

Provident Equinox

Provident Housing Limited

Kambipura

Provident Capella

Provident Housing Limited

Whitefield

  1. Tata New Haven

The luxurious residential development Tata New Haven by TATA Housing Development Co Ltd strategically located in Tumkur Road is offering 1.5, 2, and 2 BHK residential units ranging from 708-1286 sq.ft. with modern amenities like landscaped garden, indoor games, CCTV camera, gymnasium, basketball court, skating rink, lift, clubhouse, 24 hours water supply and much more.

  •  Project Name: Tata New Heaven
  • Developer: TATA Housing Development Co Ltd
  • Location: Tumkur
  • Unit Configuration: 1.5, 2, & 3 BHK Apartment
  • Rate: 5200/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/309/PR/170916/000146
  • Price Range: Rs 36.81 L to Rs 66.87 L
  • No of Units: 1613
  • Possession Date: 30-Sep-19

  1. Concorde Epitome

Concorde Epitome by Concorde Group is an unmatched Residential property located in Electronic City Phase II, Bangalore. The project offers 2 and 3 BHK residential units ranging from 1217 – 1534 sq. ft. with plenty of benefits that include prime location, comfortable and lavish lifestyle, great amenities, healthy surroundings, and high return. Some of the modern amenities are a gymnasium, billiards room, table tennis, party hall, children’s play area, swimming pool, a landscaped garden among others.

  •  Project Name: Concorde Epitome
  • Developer: Concorde Group
  • Location: Electronic City Phase II
  • Unit Configuration: 1217 – 1534 Sq.ft.
  • Rate: 4200/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/308/PR/171015/000698
  • Price Range: 51.11 lakh – 60.42 lakh
  • No of Units:180
  • Possession Date: 31-Dec-19

  1. Concorde Spring Meadows

Concorde Spring Meadows by Concorde Group, located off Tumkur Road on Hesaraghatta Main Road. This project is offering 1,2,3 BHK residential apartments. It is the ideal destination for a well-balanced life with best in class infrastructure and facilities all in the vicinity. Concorde Spring Meadows comprises of a wide array of amenities that include Landscaped Garden, Swimming Pool, Gymnasium, Play Area, Jogging Track, 24Hr Backup Electricity, Table Tennis, Party Area, Senior Citizen Park, Multi-purpose Hall, provision for Laundry, Skating Rink, Cricket Practice Net, and Multipurpose Games Court.

  •  Project Name: Spring Meadows
  • Developer: Concorde Group
  • Location: Tumkur Road
  • Unit Configuration: 596 sq.ft – 1456 sq.ft
  • Rate: 8023/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/309/PR/180227/002657
  • Price Range: 47.81 lakh – 64.70 lakh
  • No of Units: 356
  • Possession Date: 30-Jun-21

  1. LGCL Happy Days

LGCL Happy Days by LGCL is an ultimate reflection of the urban chic lifestyle located in Off Hennur Road, Bangalore. It comprises of 2 BHK Apartments that are finely crafted and committed to providing houses with unmatched quality. The Apartments are spacious, well ventilated and Vastu compliant. This project has close proximity to many famous schools, hospitals, shopping destinations, tech parks and every civic amenity required so that you spend less time on the road and more at home.

  •  Project Name: LGCL Happy Days
  • Developer: LGCL
  • Location: Off Hennur Road
  • Unit Configuration: 900 sq.ft.
  • Rate: 6556/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/309/PR/180313/002625
  • Price Range: 59 lakh
  • No of Units: 237
  • Possession Date: 31-Dec-21

  1. Pride Palatia Phase I

Pride Palatia Phase I by Pride Group situated in Hennur Road, Bangalore offers 2 and 3 BHK apartments. Located at Chikkagubbi, the project lies right off Hennur Main Road and is well linked to places like Jalahalli, Chikballapur, Brookefield, Frazer Town, Bommasandra, JP Nagar Phase 7, Vasanth Nagar, Begur and Jakkur among others. The project comes with several amenities for residents including a well-equipped gymnasium, clubhouse, 24-hour security services, playing zone for kids, landscaped gardens, swimming pool, CCTV surveillance, indoor game facilities, video door phone facilities, and television network.

  •  Project Name: Pride Palatia Phase I
  • Developer: Pride Group
  • Location: Hennur Road
  • Unit Configuration: 877 sq.ft. – 1354 sq.ft.
  • Rate: 6100/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/446/PR/171013/000463
  • Price Range: 53.49 lakh – 82.59 lakh
  • No of Units: 207
  • Possession Date: 1-Dec-19

  1. Goyal Orchid Greens

Goyal Orchid Greens by Goyal & Co. is located in Kannur, near Chikkagubbi locality on Hennur Main Road of Bangalore. It is an under-construction project that offers 2 and 3 BHK apartments span across 2.27 acres of land parcel and known for specifications such as Vitrified Tiles flooring in kitchen, living room and other parts of the apartment. The key amenities offered by Orchid Greens include a gymnasium, swimming pool, children’s play area, clubhouse, jogging track, power backup provision, and indoor games facility.

  •  Project Name: Goyal Orchid Greens
  • Developer: Goyal & Co.
  • Location: Kannur
  • Unit Configuration: 1180 sq.ft. – 1561 sq.ft.
  • Rate: 4068/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/446/PR/171014/000328
  • Price Range: 48 lakh – 63.50 lakh
  • No of Units: 240
  • Possession Date: Sep-19

  1. Artha Emprasa Startup City

Artha Property has launched its premium housing project, Emprasa Startup City strategically situated in Hoskote, Bangalore. The project offers 1, 2 BHK residential apartment from 692 sqft to 741 sqft in Bangalore East. This project is span across 8.18 acres of vast land parcels consists of 900 units. Among the many luxurious amenities that the project hosts are Swimming Pool, Multiplex And Theatre, Smart Transport, Training Center, Cricket And Soccer Field, etc.

  •  Project Name: Artha Emprasa Startup City
  • Developer: Artha Property
  • Location: Hoskote
  • Unit Configuration: 692 sq.ft. – 741 sq.ft.
  • Rate: 3950/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1250/304/PR/171031/001084
  • Price Range: 27.33 lakh – 29.26 lakh
  • No of Units: 900
  • Possession Date: 31-Dec-19

  1. Avanti by Shriline

Avanti by Shriline is a luxurious residential development by Shriline Properties Pvt. Ltd. It is built on an area spreading across 2 acres, consists of a total of 236 aesthetically designed 1 and 2 BHK units in a stilt +4 floors spread over 6 Wings. Being situated along Attibele-Anekal Road, close to proposed STRR (Satellite Town Ring Road), the project lies in close proximity to Electronic City – Bengaluru’s latest IT hub and among favorite residential areas in Bangalore South. All the necessary amenities & open green spaces together give you a great nature to live.

  •  Project Name: Avanti by Shriline
  • Developer: Shriline Properties Private Limited
  • Location: Attibele – Anekal Road
  • Unit Configuration: 530 sq.ft. – 961 sq.ft.
  • Rate: 3583/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/308/PR/171031/001664
  • Price Range: 18.98 lakh – 30.33 lakh
  • No of Units: 236
  • Possession Date: 31-Dec-20

  1. Brigade Bricklane

Packed with thoughtful conveniences and modern amenities, Brigade Bricklane by Brigade Group is an under-construction residential project, strategically located at Jakkur, Bangalore. It is offering 1 and 2 bedroom apartments span across 8 acres of land parcel consists of 749 units. It includes amenities such as a Children’s Play Area, Basketball Court, Amphitheatre, Cycling & Jogging Track, Gymnasium, ATMs, medical facilities, education institutions, and parks are within easy reach.

  •  Project Name: Brigade Bricklane
  • Developer: Brigade Group
  • Location: Jakkur
  • Unit Configuration: 663 sq.ft – 1022 sq.ft
  • Rate: 5040/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/309/PR/180808/001981
  • Price Range: 33.41 lakh – 50.99 lakh
  • No of Units: 749
  • Possession Date: 1-Dec-21

  1. TooGoodHomes by Provident

TooGoodHomes by Provident Housing Limited situated in Thanisandra Main Road near Manyata Tech Park, Bangalore. It offers 249 units of  2 BHK apartments in 2.03 acres of the land parcel, ranging between 888 sq. ft. to 944 sq. ft. Some of the key amenities include a swimming pool, gymnasium, clubhouse, children’s play area, senior citizen sit-out, terrace garden, jogging track, 24-hours power back-up among others. Tech parks, shopping malls, best of educational institutes, world-class hospitals and the Kempegowda International Airport are all in close proximity, making this a perfect investment.

  •  Project Name: TooGoodHomes by Provident
  • Developer: Provident Housing Limited
  • Location: Thanisandra Main Road, Near Manyata Tech Park
  • Unit Configuration: 888 sq.ft. – 944 sq.ft
  • Rate:  5686/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/472/PR/180808/001982
  • Price Range: 50.49 lakh – 52.59 lakh
  • No of Units: 249
  • Possession Date: 31-Dec-21

  1. Pride Sunrise

Pride Sunrise is a residential project by Pride Group situated at Bannerghatta Jigani Road, Bangalore. Homes at Pride Sunrise have been smartly designed in compact configurations which allow for maximum space optimization, designed by leading architects. It offers 128 units 1 and 2 BHK residential apartments spread across 1.35 acres of land. The project has very close proximity to Electronic City as well as Jigani Industrial Area which is home to the best international workspaces and entertainment hubs. The locality of this project has a high appreciation potential due to its location in South Bengaluru’s fastest growth corridor with excellent infrastructure and Metro connectivity.

  •  Project Name: Pride Sunrise
  • Developer: Pride Group
  • Location: Bannerghatta Jigani Road
  • Unit Configuration: 570 sq.ft. – 797 sq.ft.
  • Rate: 4912/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/308/PR/181103/002126
  • Price Range: 19.94 lakh – 28 lakh
  • No of Units: 128
  • Possession Date:31-Dec-20

  1. Brigade Parkside East

Parkside East by Brigade Group is a unique gated community project located strategically on Sarjapur Road in East Bangalore and is blessed with ready social infrastructure. It offers thoughtfully designed 1 and 2 BHK apartments keeping in mind the specific needs of varying age groups. This community has one set of blocks named CLASSIC, dedicated solely for the seniors, with a range of special services and features. While the other set of blocks named PRIME caters to the lifestyle choices of today’s cosmopolitan families. Wading Pool, Swimming Pool, Mini Golf, Jogging Track/Brisk Walk, Outdoor Gym, Senior Friendly Indoor Gym are some of the key amenities provided by the builder.

  •  Project Name: Brigade Parkside East
  • Developer: Brigade Group
  • Location: Sarjapur Road
  • Unit Configuration: 704 sq.ft to 1252 sq.ft
  • Rate: 5690/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/446/PR/180621/001910
  • Price Range: 40.05 lakh – 68.73 lakh
  • No of Units: 282
  • Possession Date: 31-Dec-20

  1. Brigade Parkside West

Parkside East by Brigade Group is a unique gated community project located strategically on Mysore Road, Bangalore and is blessed with ready social infrastructure. It offers thoughtfully designed 282 units of 1 and 2 BHK apartments span across 5 acres of land parcel keeping in mind the specific needs of varying age groups. This community has one set of blocks named CLASSIC, dedicated solely for the seniors, with a range of special services and features. While the other set of blocks named PRIME caters to the lifestyle choices of today’s cosmopolitan families. Wading Pool, Swimming Pool, Mini Golf, Jogging Track/Brisk Walk, Outdoor Gym, Senior Friendly Indoor Gym are some of the key amenities provided by the builder.

  •  Project Name: Brigade Parkside West
  • Developer: Brigade Group
  • Location: Mysore Road
  • Unit Configuration: 711 sq.ft. to 1266 sq.ft
  • Rate: 5690/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/310/PR/180611/001894
  • Price Range: 40.45 lakh – 69.50 lakh
  • No of Units: 292
  • Possession Date: 31-Dec-20

  1. Iconest 3

Icon Homz bringing up a new housing complex named Iconest 3 in Bommasandra, Bangalore. The property is located just beside the national highway 44, which connects the city to the neighboring city of Hosur to Attibele. It offers 224 units of 1,2, and 3 BHK apartments that are finely crafted and committed to providing houses with unmatched quality. The project is spread across 2 acres of land. Some of the unmatched amenities include a children’s play area, badminton court, landscaped garden, library, jogging track, gymnasium, 24-hours power back-up among others.

  •  Project Name: Iconest 3
  • Developer: Icon Homz
  • Location: Bommasandra
  • Unit Configuration: 475 sq.ft. to 841 sq.ft.
  • Rate: 4737/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/308/PR/181122/002157
  • Price Range: 22.49 lakh – 32.77 lakh
  • No of Units: 224
  • Possession Date: 1-Jun-21

  1. Provident Park Square Phase II

Provident Park Square Phase-2 by Provident Housing Limited is a newly launched residential project located in the prime area of Judicial Layout on Kanakapura Road in Bangalore. Spread across 20 acres of land area, Park Square offers 1, 2 & 3 BHK homes sized from 526 sq. ft. to 1106 sq. ft. with luxurious in-home features as well as amenities at comfortable prices. It offers some world-class amenities these include a luxury clubhouse with over 30 premium amenities and a banquet hall, Micro-mall with retail stores, cafes, ATM Dedicated meditation & yoga deck, senior-citizen court, a children’s play area, cricket pitch, and badminton court among others.

  •  Project Name: Provident Park Square Phase II
  • Developer: Provident Housing Limited
  • Location: Judicial Layout 2nd Phase
  • Unit Configuration: 526 sq.ft. to 1106 sq.ft.
  • Rate: 6538/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/310/PR/180507/001648
  • Price Range: 34.39 lakh – 64.39 lakh
  • No of Units: 208
  • Possession Date: 1-Oct-21

  1. Brigade Parkside North

Parkside North by Brigade Group is a unique gated community project located strategically on Jalahalli in North Bangalore and is blessed with ready social infrastructure. It offers thoughtfully designed 1 and 2 BHK apartments span across 5.32 acres of land, keeping in mind the specific needs of varying age groups. This community has one set of blocks named CLASSIC, dedicated solely for the seniors, with a range of special services and features. While the other set of blocks named PRIME caters to the lifestyle choices of today’s cosmopolitan families. Wading Pool, Swimming Pool, Mini Golf, Jogging Track/Brisk Walk, Outdoor Gym, Senior Friendly Indoor Gym are some of the key amenities provided by the builder.

  •  Project Name: Brigade Parkside North
  • Developer: Brigade Group
  • Location: Jalahalli
  • Unit Configuration: 711 sq.ft. to 1207 sq.ft
  • Rate: 5390/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/309/PR/181122/002152
  • Price Range: 38.32 lakh – 62.64 lakh
  • No of Units: 434
  • Possession Date: 31-Mar-21

  1. Gallium at Brigade El Dorado

Brigade Gallium At Brigade El Dorado an affordable apartment complex situated at Bagaluru Near Yelahanka in Bangalore. It offers 463 units of 2 and 3 BHK apartments, and a total of 12 blocks configured to have 1 basement + ground +21 floor elevations will be offered, upon completion, with excellent structural formulations in accordance to the principles of Vastu. This project has a total area size of 4.2 acres which include key amenities like 10-acre Central Park, Swimming Pools, Two Clubhouses, Kids’ Play Area, Open-air Amphitheatre, Football Field, Community Gardening, Multipurpose Hall, Creche, Cricket Ground, Convenience Store, Gym among others.

  •  Project Name: Gallium at Brigade El Dorado
  • Developer: Brigade Group
  • Location: Bagaluru
  • Unit Configuration: 795 sq.ft to 1068 sq.ft.
  • Rate: 4415/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/472/PR/190427/002540
  • Price Range: 35.10 lakh – 44.60 lakh
  • No of Units: 463
  • Possession Date: 31-Dec-23

  1. Confident Oxygen

Confident Sarjapur Oxygen by Confident Group situated in Sarjapur Road is offering 2 and 3 BHK luxury apartments in 40 acres of vast land with varied amenities like tennis court, basketball court, kids play area, swimming pool, clubhouse and more. These residential apartments in Sarjapur Road are centrally situated and are surrounded by world-class infrastructure and facilities. This project is very close to many international schools and hospitals. It has also close proximity to the new Wipro office and RGA Tech Park.

  •  Project Name: Confident Oxygen
  • Developer: Confident Group
  • Location: Sarjapur Road
  • Unit Configuration: 927 sq.ft to 1114 sq.ft
  • Rate: 5228/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/308/PR/190531/002591
  • Price Range: 48.46 lakh – 57.29 lakh
  • No of Units: 250
  • Possession Date: 30-Jun-22

  1. Provident Equinox

Provident Equinox is a luxury residential apartment project by Provident Housing Limited in the rapidly expanding neighborhood right off NICE Junction, Mysore Road, Bangalore. The project offers 672 units of 2 and 3 BHK spacious apartments with luxurious features in 2.08 acres of land parcel. Amenities at Provident Equinox include a fully equipped clubhouse, landscaped gardens, gymnasium, swimming pools, recreation rooms, outdoor sports courts, a children’s play area, party hall, and 24/7 security to its residents.

  •  Project Name: Provident Equinox
  • Developer: Provident Housing Limited
  • Location: Kambipura
  • Unit Configuration: 883 sq.ft to 1082 sq.ft
  • Rate: 4519/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1251/310/PR/190525/002576
  • Price Range: 39.90 lakh – 49.90 lakh
  • No of Units: 672
  • Possession Date: 31-Mar-22

  1. Provident Capella

Provident Capella is a residential community situated in Whitefield near Hope Farm Junction, Bangalore. This project features 1, 2 and 3 BHK well-built luxury apartments in 6 acres of land. The master plan reveals the presence of 7 towers with Basement + 2 Parking + 11 floors arrangement. 780 units are offered in phase 1 with a size range of 420 sq.ft. to 1100 sq.ft. It is a unique project themed with the concept of a child-friendly environment that helps the kids to engage in several activities. Some of the unmatched amenities include Swimming pool, multi-purpose court, culture club, meditation room, yoga lawn, party lawn, open-air theatre & stage, Kabaddi Court, Outdoor gym, Jogging track, children’s play area, cricket pitch, Skating bowl, Retail, Shopping, and Cafe among others.

  •  Project Name: Provident Capella
  • Developer: Provident Housing Limited
  • Location: Whitefield
  • Unit Configuration: 430 sq.ft. to 1100 sq.ft
  • Rate: 6044/sq.ft.
  • RERA Registration No: PRM/KA/RERA/1250/304/PR/190606/002596
  • Price Range: 25.99 lakh – 56.99 lakh
  • No of Units: 780
  • Possession Date: 14-Dec-23

 

Read More
Affordable Housing blog hot topics in india Real Estate Real Estate News Smart Residential Living

FM Nirmala Sitharaman Announced Rs 70,000 Stressed Assets Fund To Lift Exports and Real Estate Growth

Sep 16,2019 / By / No Comment
Finance Minister Nirmala Sitharaman

HIGHLIGHTS

  • Finance Minister announced a stressed asset fund of Rs 20,000 crore for housing projects.
  • A new plan for repayment of taxes paid on exports worth Rs 50,000 crore.
  • Rs 1,700 crore dispensation for giving higher insurance cover to exporters.
  • She also announced a Dubai-like mega shopping festival to boost exports.

Last week, Finance Minister Nirmala Sitharaman announced an over Rs 70,000 crore package for lifting the export and the real estate sector growth, including establishing a stressed asset fund. These measures came at a time when the economy of India is struggling with a 6-years slow growth rate and hoping that these measures will give support to the Indian economy in the year to come.

The package comprises a stressed asset fund of Rs 20,000 crore for housing projects, a new plan for repayment of taxes paid on exports worth Rs 50,000 crore and Rs 1,700 crore dispensation for giving higher insurance cover to exporters.

Apart from the announcement of Rs 70,000 crore, the Finance Minister has also addressed issues in the 2-critical sectors that are facing distress i.e. exports and the real estate sector.

A Rs 20,000 crore fund for the real estate sector with half of the money coming from the government. It will be established to give last-phase funding for housing projects that are not in bankruptcy court or already earmarked as bad debt.

FM Nirmala Sitharaman

At a press conference called to announce the 3rd and final set of measures to discuss in particular sectors and support growth, housing finance companies have been permitted to borrow funds from overseas investors at easy rules while interest rate on housing building advance has been reduced. It will directly benefit Govt servants. Government servants contribute to a major segment of demand for houses. To encourage more government servants to buy new houses, the FM announced the reducing of House Building Advance which will now be combined to the 10-year G-sec yield.

The stressed asset fund, which is to be used to give Rs 10,000 funding to affordable housing projects, will serve and benefit almost 3.5 lakh homebuyers. This aid will benefit buyers stuck in bankruptcy-bound projects will get assistance through the NCLT route.

New Steps That Will Boost Housing Industry

  • Relaxation of ECB guidelines for Affordable Housing
  • ECB guidelines will be relaxed to facilitate the financing of home buyers who are eligible for Pradhan Mantri Awas Yojana (PMAY) in consultation with Reserve Bank of India (RBI).
  • This is an addition to the existing norms for External Commercial Borrowing (ECB).

House Building Advance

  • The interest rate on House Building Advance shall be reduced and linked with the 10-years G Sec Yields.
  • Government servants contribute to a major component of demand for houses. This will encourage more government servants to buy new houses.

Special Window for affordable and middle-income housing categories

  • A special window to provide last mile funding for housing projects which are non-NPA and non-NCLT projects and are net worth positive in the affordable housing and middle-income category to be set up.
  • The objective is to focus on the construction of unfinished units.
  • Govt of India on the lines of NIIF can contribute to the fund while the rest of investors would be LIC, Banks and sovereign funds.
  • The fund shall be set-up as a Category-II AIF Trust and would be professionally run with experts from the Housing and Banking Sector.
  • Fund Size – Rs 10,000 crore to be contributed by the Government of India and the roughly same amount from overseas investors.

For exporters, a new scheme for repayment of taxes paid on exports called the Remission of Duties or Taxes on Export Product (RoDTEP), will come into effect from January 2020 to replace current laws. The new RoDTEP scheme will more than enough to encourage exporters than existing schemes bring together. Moreover, a Rs 1,700 crore yearly dispensation will provide Export Credit Guarantee Corp (ECGC) to grant higher insurance cover to banks lending working capital for exports. This will allow a decrease in the overall cost of export credit including interest rate, especially for MSMEs.

Exports have also declined in the last two months in spite of a weaker rupee, while 2016 demonetization of 86% of the currency in circulation and introduction of Goods and Service Tax (GST) had sunken the realty market.

She also announced a mega shopping festival similar to the world-famous Dubai Shopping Festival, which will be conducted at 4-places in India in March on issues of gems and jewelry, handicraft/yoga/tourism, textiles, and leather.

Read More
Affordable Housing blog Buying property hot topics in india Infrastructural development Real Estate Rental Smart Residential Living

Impact of the Statue of Unity on Real Estate in Gujarat

Sep 3,2019 / By / No Comment
Statue of Unity in Gujarat

About Statue of Unity:

Sardar Vallabhbhai Patel’s statue is also known as the Statue of Unity. It is situated in the Indian state of Gujarat. Sardar Vallabhai Patel (1875–1950), who was the first Home Minister of India. After completion of the construction work, his statue is the world’s tallest statue standing at a height of 182 meters.

The project was first announced in 2010 and the construction of the statue began in October 2013 by Larsen & Toubro, who received the contract for Rs 2,989 crore from the Govt of Gujarat. The sculptor was designed by Indian sculptor Ram V. Sutar.

The statue is located at the shore of the Narmada River facing the Sardar Sarovar Dam. The statue was inaugurated by Prime Minister Narendra Modi on October 31, 2018, on the 143rd birth anniversary of Sardar Vallabhbhai Patel.

https://www.jojobride.co.uk

To support the construction of the statue, the Statue of Unity movement was started to support the construction of the statue. This movement helped a lot to collect the iron needed for the statue. By asking farmers to donate their scrap farming instruments. It is heard that by 2016, a total of 135 metric tonnes of scrap iron had been gathered. Out of 135 metric tonnes, about 109 metric tonnes of it were utilized to make the foundation of the statue after processing.

On 15th December 2013, a marathon entitled “Run For Unity” was held in Surat and Vadodara to support the project.

The world’s tallest “Statue of Unity” is a pride of India and a decent honor to the fearless who undivided and integrated India, our precious Sardar Vallabhbhai Patel. He was highly respected for his leadership in uniting the 552 states of India to form the single Union of Indian.

Real Estate market of Gujarat:

Gujarat is known for its rich culture and has a population mix of professional and business class. It is well-known for the industrialized state. It is home to many prominent cities including Ahmedabad, Jamnagar, Mandvi, Gandhinagar, Surat, etc. The city of Gujarat has made rapid progress in real estate developments.

The transformation of Gujarat has been slow and steady but today anyone who is visiting the state can see skyscrapers buildings and malls in place of old aged residential and commercial buildings.

Day by day growing employee demand is pushing up the rental markets in Gujarat as well as real estate capital values in the city. Rentals at famous locations such as Ahmedabad or Jamnagar can range from Rs.8,000 to Rs.15, 000 per month for 2/3 bed-room units, while purchase prices for the same can range in between Rs.17 to 30 lakhs onward.

At the same time, real estate developers betting big on affordable homes in Gujarat. As per  Gujarat Real Estate Regulatory Authority (GujRERA), 1/3rd of all the realty projects registered with GujRERA fall under the affordable housing category. Among 2000 affordable housing projects, 880 are only residential and 820 are mixed-use with residential and commercial units.

The Statue of Unity and its Impact on Real Estate Market of Gujarat

Impact of the Statue of Unity on the Tourism Industry:

The government’s plan to set a large tourism center on the routes of the Kutch. The winter festival near the statue will boost tourism in the region. This tourism center will offer adventure activities and water sports to the tourists such as world-class light and sound show with musical fountains. In the first place, basic infrastructure such as a tent city near Sadhu Bet will come into view with 250 tents that will remain operative during the year.  The site will attract foreign tourists and holds the potential to be developed as an eco-tourism site. The Statue of Unity is fair to draw numbers of foreign tourists along with domestic visitors across India and is creating huge revenue for the country The Gujarat government has made every effort to develop the entire neighborhood as a world-class tourist center.

Infrastructure development:

The government’s decision to construct basic tourist infrastructure at different destinations in the State such as the Narmada district. It will surely boost their attractiveness index. It will not only spark commercial real estate growth in the region, but it will also offer an endless chance to add to social development and stability, all-around economic growth and heritage conservation.
The development of transport modes to reach the location will gradually propel both commercial and residential growth in the nearby areas.

As of now, there are several projects in the card to assure that this place turns out to be a popular tourist point. A world-class zoo will be developed across 1,300 acres over seven levels by the name Sardar Patel Zoological Park near the statue.  Moreover, there is a plan to start boating activities near the statue as a jetty is being constructed in the Narmada.

Employment Creation:

It’s not just about India’s pride in building the tallest statue but it’s about creating employment and revenue for the country. At the same time, it will create new business opportunities for the people living in nearby areas.

An increase in tourism and other related sectors will create huge employment opportunities for the locals and tribals living nearby the Narmada district. As of now, it has been decided by the state govt that the tent city will employ at least 15% locals. Going forward, training is also being provided to guides to face the increased tourist traffic that is hopefully to be generated after the inauguration of the statue of Unity. On the other hand, to flourish tourism center, the employment of qualified and skilled manpower is required which will be a serious task for the government.

Growth of allied sectors:

In the last few years, it has seen that the tourism and hospitality sector attracting investments worth Rs 11,000 crore. Increased tourism activities due to the newly-inaugurated Statue of Unity will create a way for establishing new industries in the associated sectors such as hospitality, transportation, and handicrafts. A 3-star Shrestha Bharat Bhavan hotel has already been built near the statue.

Conclusion:

As of now, there are several projects in the card to assure that this place turns out to be a popular tourist point. A world-class zoo will be developed across 1,300 acres over seven levels by the name Sardar Patel Zoological Park near the statue. Moreover, there is a plan to start boating activities near the statue as a jetty is being constructed in the Narmada. Local businesses have been seen in lots of progress. Earlier nearby restaurants used to remain profitable only during monsoon while dam overflowing. An increase in transport, restaurants, accommodation, and other service sectors will turnaround and will improve the economy of India.
Navagam, Gora Colony, Vasantpura, Thevadia, Nana Thavadia, and Mokhadi are nearby localities to the Statue of Unity.  The Gujarat government has made every effort to develop the entire neighborhood as a world-class tourist center. Once these projects will be in place, will change the outlook of Gujarat real estate market.

Read More
Affordable Housing blog Buying property Real Estate Real Estate News Right Step Smart Residential Living

Ghaziabad Civic Body Slashes Flat costs over 50% in Madhuban Bapudham

Aug 5,2019 / By / No Comment
Madhuban Bapudham Yojana

Ghaziabad Civic Body Slashes Flat costs over 50% in Madhuban Bapudham

Good news for you if you are planning to buy a house in Ghaziabad. Now you can buy EWS and LIG Flats of Madhuban Bapudham Yojana at 55% lower price. Ghaziabad Development Authority (GDA) is launching a one-month long online scheme on August 5. The applicants whose name will be selected will get EWS for 4.5 lakh and LIG flat in 10.80 lakhs.

Ghaziabad Development Authority (GDA) has housing units in Indirapuram, Swarnjayantipuram, Vaishali, Nandgram, Indraprasth, and Madhuban Bapudham. The reason behind issuing of the scheme is to attract home buyers for some time now as GDA’s properties have failed to attract buyers in the past.

To attract home buyers for its properties, the Ghaziabad Development Authority had planned to framework a Madhuban-Bapudham housing scheme in 2004 after getting 1234 acres of land. Later, in many pockets, EWS and LIG have been built. Out of this, 466 EWS and LIG have not been sold yet. Now the Ghaziabad Development Authority slashed the flat rate following a state government’s order.

An EWS flat that was previously priced nearly Rs.10 lakh will now be available for Rs.4.5 lakh. Similarly, the price of a LIG flat has been decreased from Rs 23 lakh to Rs.10.8 lakh.

As per the GDA official data, there are 296 EWS and 170 LIG flats in Madhuban Bapudham. Those whose annual income up to Rs 3 lakh can apply for an EWS flat; for LIG flats, the limit is Rs 6 lakh per annum. The scheme will be opened to the public for a month from August 5 2019.

At the same time, the authority was selling them according to the cost experienced in making them. Earlier, the state government has instructed the EWS and LIG buildings to be sold according to the mandate.

It is really a big step to provide affordable houses to its residents at such a lower price. Besides, the selected applicants will have to pay just 10% initially and the rest of the balance amount can be paid in instalments in a given time period.  GDA officials say that the first price was double, but now the price has been cut.

Image Sources: livehindustan.com

Read More
1 … 3 4 5 6 7 … 9
займ с плохой кредитной историей