Raheja launches second phase of affordable homes

Tags: Real Estate
Raheja launches second phase of affordable homes
To cash in on the growing need for mass-housing, luxury developer S Raheja Realty has recently launched the second phase of its affordable project called Raheja Vision, at Palghar West in Thane, a distant suburb of Mumbai.

“This building is located at a well connected area in Palghar with a road that leads right to it and a railway station just five minutes away,” said Ram Raheja, director of S Raheja Realty.

The price of the project is around Rs 4,000 per sq ft.This affordable housing project is spread across approximately seven acres and will comprise one and two BHK apartments. The entire project will offer around 400 apartments.

“At present, there is tremendous scope for developing mid-income housing. The company has entered this segment in a big way,” said Raheja.

The apartments in the Palghar project will comprise branded tiles, floor to ceiling sliding windows, running balconies, modular kitchens and granite tops. The company has witnessed strong response from buyers, said Raheja.

Last year, the company had launched the first phase of Raheja Vision at Palghar priced at Rs 2,500 per sq ft and has sold 90 per cent of the stock, the company claimed.

The company is also exploring opportunities in Kolkata and Indore. It will continue to look at opportunities in tier II cities not only for developing residential projects but also for luxury, according to Raheja.

The company has primarily been in the luxury housing segment, and has so far developed three properties – one in Pune and two in Mumbai. One each in Lonavala and at Khar in the western suburb is under execution.

Recently, the company has ventured into affordable housing in mini metros and tier II cities. Last year, the company has also launched SDS Raheja Residency, one of Kashi’s first affordable luxury projects. Along with the 140 apartments, this complex offers terrace gardens, indoor sports, a children’s play area, jogging track among others. zz

jharnamazumdar@mydigitalfc.com

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