Affordable housing developer Silvexity Group plans to invest about Rs 1,000 crore over the next 3-4 years on township projects in Mumbai, Delhi and Bangalore.
The group's first Affordable housing project, Tanaji Malusare City at Karjat, in neighbouring Raigad district, is an integrated township with 24,000 flats and was constructed in partnership with the MMRDA (Mumbai Metropolitan Region Development Authority ).
Mr. Amod Kumar Singh, VP ( Low income and rental housing) Silvexity said, "We plan to develop another four townships -- two in Mumbai and one each in Bangalore and Delhi. We have earmarked around Rs 1,000 crore for these projects over the next three- four years," said
The MMRDA started its rental housing project three years ago. The company said the Karjat township is its first public-private partnership low-cost housing project with the MMRDA.
Mr. Amod Kumar Singh also said ''Our the company has already acquired land for its Mumbai projects and work on the same would commence soon and will take around five years for completion. However, he did not divulge further details on the projects.. The existing infrastructure in the city cannot take the pressure of increasing population. There is a need for separate townships where affordable houses can be made. The proposed townships will not only provide affordable houses, but also necessary amenities. After Mumbai, we plan to take up the Delhi project. We are in the process of identifying land and we expect to commence work next year."
The group's first Affordable housing project, Tanaji Malusare City at Karjat, in neighbouring Raigad district, is an integrated township with 24,000 flats and was constructed in partnership with the MMRDA (Mumbai Metropolitan Region Development Authority ).
Mr. Amod Kumar Singh, VP ( Low income and rental housing) Silvexity said, "We plan to develop another four townships -- two in Mumbai and one each in Bangalore and Delhi. We have earmarked around Rs 1,000 crore for these projects over the next three- four years," said
The MMRDA started its rental housing project three years ago. The company said the Karjat township is its first public-private partnership low-cost housing project with the MMRDA.
Mr. Amod Kumar Singh also said ''Our the company has already acquired land for its Mumbai projects and work on the same would commence soon and will take around five years for completion. However, he did not divulge further details on the projects.. The existing infrastructure in the city cannot take the pressure of increasing population. There is a need for separate townships where affordable houses can be made. The proposed townships will not only provide affordable houses, but also necessary amenities. After Mumbai, we plan to take up the Delhi project. We are in the process of identifying land and we expect to commence work next year."
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