AHWO to help people find affordable housing in Mumbai

Affordable Housing Welfare Organisation of India (AHWO) is planning to provide housing to people according to their income groups, under the Grahakanti scheme. At a press conference held at the Press Club CST, the NGO promised to provide budget housing for the middle class, women and people belonging to scheduled castes and scheduled tribes.

Sunil Sharma, spokesperson, AHWO, during the press conference talked about how they were inspired by Saraswats, who started community-based cooperative housing societies back in 1915. For this initiative, people have to become members of AWHO. The membership is free, and during registration, the house-seeker has to deposit 1% of their income as a fixed deposit. The organisation will then make arrangements to give 19% of the home’s price at a loan of 9.6%. Further, the organisation will help the house-seeker get a loan sanctioned from a nationalised bank. 

Under the scheme, house-seekers will be able to buy a flat at the price it cost when booked, and not in accordance with the ever-increasing property rates. The scheme has begun in Karjat and would be introduced in Mumbai soon.

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