Janaadhar launches housing project for poor
(WEBINDIA123.com, April 09, 2010)
Janaadhar Constructions Pvt Ltd, a subsidiary of Janalakshmi Social Services, a not-for-profit company, today launched 'Janaadhar Shubha,' "an affordable housing project targeted at urban low income group" here.
Announcing the launch, Mr. Rajesh Ramanathan, Chairman and Director, Janaadhar Constructions, said the project was designed to serve the needs of the urban dwellers who had a long cherished dream of owning a home but were priced out in the city's real estate market.
Mr. Ramanathan said the project on Attibele-Anekal Road on the outskirts of the city comprised 1,140 flats.
The first phase work involved 528 flats of 400 sq ft with single BHK priced below Rs. five lakh, excluding property registration and other government charges. Stating that the response from the public on the low-cost flats was overwhelming and "we are looking forward to take the project in other states including Maharashtra and Tamil Nadu".
Mr. Ramanathan said bookings had already began as flats in the first phase were scheduled to be made available by June next year. He said loan facility would also be provided to potential buyers.
The project had received funding support from the Michael and Susan Dell Foundation to address the affordable housing challenge in urban India.