The Confederation of Real Estate Developers' Association of India (CREDAI) held a meet on planning and construction of affordable housing at Nagpur, last week.
Architect Hafeez Contractor, who was among the key speakers, gave an insight into the design and planning of affordable homes. According to Contractor, proper planning can reduce the cost of projects, enabling builders to offer cheaper rates to consumers. He suggested having the ‘Hyderabad Pattern’, which allows for a free Floor Space Index (FSI). 2 crore homes are set to be built under this pattern, by 2022.
Contractor also suggested that government should also reduce taxes on such projects. Later, speaking on the occasion, Nagpur Municipal Corporation (NMC) commissioner Shravan Hardikar said that the civic body had recently conducted a demand-supply analysis of affordable homes under the Pradhan Mantri Awas Yojana. In 60 days, the NMC received 60,000 applications for these homes.
Affordable housing brings hope to lakhs of families and young couples wanting to start their lives, at a reasonable starting cost. There are a number of projects mushrooming across cities in India, especially in the suburban areas, and also in towns and tier 2 cities. Adani Realty has marked its presence in the Affordable Housing segment with its brand of comfort homes - Aangan, which are known for their convenient locations/good proximity to areas of public convenience - a rare offering in this segment.
At present, two Aangan projects are being completed and occupied - one in Gurgaon and the other at Shantigram, Ahmedabad.