Vastushodh Projects’ ‘AnandGram’ and ‘UrbanGram’ is for lower and middle income groups; claims 45% houses are already booked.
Pune realty company Vastushodh Projects Private Limited has franchised their ‘AnandGram’ and ‘UrbanGram’ brands in the affordable housing sector across Maharashtra recently. As a part of the new ‘UrbanGram’ franchise model, a new project in Pune will be launched on December 29 in association with Pate Developers and Amey Vastunirma.
“This is the first of its kind effort to franchise a real estate brand in affordable housing for lower and middle income groups,” said Vastushodh Projects Private Limited managing director, Sachin Kulkarni, at a press conference held on Tuesday.
The ‘AnandGram’ brand is targeted towards lower income groups and houses will be available at a price between Rs3 lakh and Rs10 lakh. ‘UrbanGram’ is for middle income group with flats available from Rs15 lakh onwards. The units will be following the national parameters for affordable housing.
Speaking about the response they have received from future homeowners, Kulkarni said the projects have become a big hit. “In Pune, there is a requirement of 6 lakh units and we are looking forward to fill that market gap. Our Kirkatwadi project has not even been officially launched yet, but already 45% of the houses have been booked.”
According to Kulkarni, this is the first time that affordable housing is being constructed in an organised way. The realty has created multiple options of becoming a franchisee of either of the two brands.
The first option is for the investor, for whom Vastushodh does everything from land identification to construction to marketing. The second option is for landowners, where the company will plan, get the necessary sanctions, develop and market the project. The third option lets Vastushodh become a strategic partner in the project and the fourth option is specially meant for real estate developers outside Pune.
Speaking about the profitability of such projects, Kulkarni said, “We have created an expertise in affordable housing, so the time for construction is extremely less. Hence, our turnaround time is low. Our saving is in terms of time and not money.”
The UrbanGram project in Kirkatwadi on Sinhagad Road will be built on the land of Pate Developers. The project will have over 230 apartments with amenities like parking, landscaped gardens, swimming pool, club house, internal tar roads, street lights, rain water harvesting and a playground with cricket pitch.
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