Friday, August 1, 2008

Tanaji Malusure City, 100 acre low cost housing scheme near Karjat, to offer 10,000 flats at Rs. 999 per sq.ft.

300 to 500 sq ft flats in 3 to 7 lakhs:

A joint venture between Sterling Construction Systems (SCS) and Eredene Capital Plc, a UK-based venture capital fund, which has given Rs100 crore to the project, Tanaji Malusure City, will have over 10,000 flats of 300 to 500 sq ft at Karjat

All Amenities:

Separated by the River Ulhas, and just a few hundred meters away from the Karjat station, the township will house approximately 60,000 people and will have all the required amenities like schools, multiplexes, malls, and hospitals. The first phase of 2,500 flats is scheduled to be completed in January 2009

Subsidised by commercial property:

Pravin Banavalikar, group managing director of Great Maratha Corporation, who owns the construction company, said, “It is no charity scheme. To make the project viable, we would subsidise the low-cost housing by selling the commercial component at a market rate of Rs3,000 a sq ft.”

Traveling time and Affordability:

“Only affordability is an issue. If there is a township which offers affordable housing and social amenities, they will not mind traveling one and a half hour to a home where which does not have cramped interiors, but a separate living and a bed room,” he said.

Affordable Housing..Possible!

“I wish to show that it is possible to construct affordable housing by using innovative construction technology that minimises skilled inputs and delivers results at affordable rates. Flats would be ready for occupation within 90 to 120 days,” Banavalikar added.

“We would further sell the flats only on lottery and not allotment to prevent speculators from entering the market,” said Banavalikar.
DNA - A house at Rs999 per sq ft! It's possible


  1. Real estate developers in north are ushering in a new era of living for the senior citizens, by developing specialty housing projects for them. The developers are focusing on providing high end facilities for the people above 60 years of age. The concept is already present in the western world but the time has come to launch it in the Indian market as this sector has been largely neglected in India. Moreover there's a great scope of growth in this segment due to lack of organized players.For more view-

  2. Ravi,
    How do I apply for a flat at Tanaji Malusare City, any contact info?


  3. If I have to buy where should I contact you and what are the formalities .