Affordable Housing

Codename Independence Day

Aug 17

Urbanrise launches Codename Independence Day on 17th, August 2019

Chennai gets Independence from Paying High Rents, Lack of Amenities & Poor Quality Construction

Having successfully launched the first two towers under Codename Million Carats at Padur, Urbanrise now launches the next two towers under the name of Codename Independence Day. The theme of this project launch at Padur is to get the Chennaites Independence from paying high rents, lack of amenities and poor quality homes.

Codename Independence Day is the answer to every aspiring homebuyer to own an apartment whose EMIs are lesser than the rent that they are currently paying.

Independence from the lack of amenities by living in these apartments with plenty of world-class amenities. It includes a 20,000 sq.ft clubhouse, swimming pool, basketball court, gym, multipurpose hall, children’s play area, indoor games and an 11,000-sq.ft retail arcade for all shopping needs. Urbanrise presents the true Independence by providing everything at the doorstep with Codename Independence Day, i.e. apartments with convenience.

Not only the affordable EMIs & plethora of amenities makes the project special but also its quality of construction turns the apartments into a prestigious project to buy in Chennai.

These apartments are constructed using the revolutionary MIVAN technology that stands as an example for durability & quality. Another advantage of MIVAN is its smooth finish and preventing the water seepage gives a damp-free living for lifetime.

“The best of all, is its price, starting from just 17.01 Lacs onwards.”

Urbanrise Codename Independence Day is built on an area covering 12.92 acres of land over 70% open space, awesome landscaping and 24*7 security makes this project a greenery filled secured gated community.

Codename Independence Day comes with easy accessibility and connectivity to IT Parks and Corporate hubs, Educational institutions, Hospitals, Bus stops, Proposed Metro Rail, Shopping Malls and Entertainment Hubs.

The project is popular for its location as it is being  developed at Padur right next to Chettinad Health City and is just 4 KM away from Siruseri SIPCOT, Asia’s largest IT Park and other IT Hubs like TCS, CTS, Polaris, and ETA Tech Park are close by.

Some of the best educational institutes like Chettinad Medical Institute, Hindustan University, Anand Institute, SSN College, and Dr. Ambedkar College are situated within 2 to 15 mins from the project. On the health front , Chettinad Health City, Life Line hospital, Supreme hospital, Madhura hospital and Vision hospital are nearby.

On the whole, this project is a right mix of Awesome Location, International Quality Design & Construction, World-class Amenities, Vaastu Compliant and the Best Pricing.

 

About Urbanrise

Urbanrise is a subsidiary of Alliance Group which is found by a visionary team of young and passionate experts from the Real Estate Industry. Urbanrise is a promising Real Estate Brand emerging across South India with a vision to develop One Million Homes for the “Aspiring Class” in India. Their aim is to be the Torch Bearer of the ‘Housing for All by 2022’ initiative of the Ministry of Housing & Urban Affairs with the aspiration to deliver well-planned gated communities with quality homes built with a space-saving design and the MIVAN technology, to suit the needs of the rising Urban Markets.

 

Affordable Housing Top booming real estate destinations in India

Aug 20

Affordable Housing: Top booming real estate destinations in India

Affordable housing has become the hot discussion in the Indian real estate. Today, real estate developers all across India are in all-action towards developing affordable homes in almost all the cities. The Pradhan Mantri Awas Yojana (PMAY) scheme acts as an active drive for real estate developers to take this “Housing for All” segment a further momentum.

Most importantly, developers are making sure that these affordable homes are affordable for the Low Income Group (LIG) & Economically Weaker Section (EWS) people. Focusing on these segments makes, these homes affordable for people who never dreamt of owning a home. Similarly, the middle class & upper middle-class people find these homes budget-friendly which aren’t super-expensive. The rapid increase in the affordable housing projects in India is huge because of its exceptionally high demand. That way, this set a beginning for a plethora of affordable properties at an affordable price to come up in the future. Furthermore, cities like Chennai, Hyderabad, Bangalore, Kolkata, Mumbai and Ahmedabad are expected to launch as many affordable homes in the upcoming years in real estate.

Here are some of the top best booming real estate destinations in India

 

Hyderabad

Hyderabad witnessing so much of betterment in all aspects of real estate market such as the economic and infrastructural growth that increased demand for both residential & commercial property sectors. With a growing workforce and establishments of IT/ITES tech parks around the city gives a thrust for the development of quite a lot of affordable properties in the city. The number of MNC companies constantly rising in this locations building high demand for retail, residential and commercial properties. In addition, several affordable homes in  Kompally, Bachupally, Kukatpally, Miyapur, Sianikpuri, and Manikonda have launched in the recent times.

Bangalore

Similar to Hyderabad city, Bangalore is also one of the metro cities in India that is encountered as the emerging hotspot for commercial spaces which is to increase demand for affordable housing spaces as well. In the same way as all popular cities, Bangalore has witnessed so many IT developments in the past decade which are now happening to drive the residential real estate sector at rapid speed, which is unimaginable. Furthermore, locations like Hoskote, Bengur, Kengeri, and Varthur are proof for one of the most coveted hotspots in India for its affordable residential home options.

Chennai

Just like Hyderabad and Bangalore cities, Chennai is also a pulsating location that has been thriving successfully in real estate with more infrastructural developments happened and happening in the popular IT Corridor of Chennai, OMR. Chennai isn’t just about the MNC IT/ITES sector; it is an industrially succeeded city of India where numerous chemical industries have established in Porur. It isn’t uncommon why people fly over from various places to the city for their career growth.

Other than this, Chennai focuses on major healthcare centres having built & brought up in all these years of incredible development that has happened so far. Usually, there is a demand for regular apartments & villas in OMR. In addition, come the affordable homes as well. The fast development of transportation and other infrastructural developments bring demand for affordable housing projects in Kelambakkam, Guduvancheri, Urapakkam, Siruseri and so many other locations in Chennai city. The recent metro train transportation launch has set the expectations high and also the upcoming metro is further enhancing the value of real estate in Chennai. The value every sq ft home buyers buy in this city is expected to value high in the future.

Kolkata

Kolkata is renowned for its high-end residential projects and city is constantly emerging with new advancements in the world of housing. It’s no wonder why it is one of the top affordable hotspots of India. Locations like New Town and Sonarpur are now flooded with more affordable apartments. Sonarpur stands high because of its proximity to the Garia metro line. The price in these two locations is expected to be less compared to other areas in Kolkata.

Navi Mumbai

Navi Mumbai is justifying till this date as a booming real estate hotspot in India as it is driving the industry to unbelievable growth in the future. Since the proposal of International Airport has been a game-changing twist in this region as it will be closest to the new airport in Panvel. Furthermore, the location is expected to at least launch a few thousands of affordable homes in the upcoming years. While it is the new township of the state, it isn’t less in providing the best education in almost all the streams. Having poured its efforts in educations and workforce, Navi Mumbai is never less among the most coveted locations in India when it comes to affordable housing projects.

Ahmedabad

The growth in better connectivity and rapid infrastructural growth in and out the city with abundant job opportunities states a considerable demand in properties in Ahmedabad. Locations like Gota, Vaishno Devi circle, South Bhopal are offering budget-friendly homes for home buyers. Ahmedabad is now expected to provide the lower-end home buyers with a reason to dream of owning a home by developing best affordable homes without shelling out their pocket.

 

affordable house in chennai -Affordable housing scheme in India

Jul 28

Affordable housing scheme in India

The biggest dream of everyone here in India is to own a house. Owning a home is pride, and for some, it is a need. But still, half of the population is hunting for an own residence. On having the report, the Government proposed a solid Idea – The “Affordable housing scheme” to bring affordable homes for the low-income group in India.
As India has many numbers of low and middle group people, who cannot afford to buy their own home. Under the launch of the Affordable housing  scheme by the government, people are getting the shelter – being the third most important necessity after food and clothes.

1. Pradhan Mantri Awas Yojana (PMAY): 2015

PMAY is an NDA government’s flagship Affordable housing scheme implementing in between 2015-2022, aiming for ‘Housing For All’. This scheme is divided into 4 parts

 

(a) In-situ slum redevelopment (ISSR):

Under this scheme the government uses the land of the slum dweller to make a house for them. The scheme has leveraged by the large number of slum area in India. With the private partnership with the eligible slum dweller, the government can use to develop their slum land to make affordable houses.

(b) Credit-linked subsidy scheme (CLSS): 

Under this scheme, Credit-linked subsidy will be provided to the EWS Economically Weaker Section (EWS) and Low Income Group (LIG) on Home loans. The subsidy is provided on both for buying or constructing of house to the urban poor

  • EWS with the annual Household Income Up to Rs.3 lakh/annum and house sizes upto the carpet area of 30 sq.m. Upto loan amount 6 lakh at 6.5 interest subsidy.
  • LIG with the annual Household Income from 3 lakh to Rs. 6 lakh/annum and house size upto the carpet area of 60 sq.m. Upto loan amount 6 lakh at 6.5 interest subsidy.

(c) Affordable housing in partnership (AHP):

Under this scheme, Affordable house are provided to the EWS groups with financial assistance from with different partnerships by States/UTs/Cities with the private sector. Each EWS house gets Rs. 1.5 Lakh Central Assistance when at least 35% of the total constructed houses are for EWS category.

(d) Subsidy for Beneficiary-led individual house construction/enhancement. 

Under this scheme, a subsidy is provided to EWS category people to construct or renovate their existing houses. Assistance of ₹ 1.5 lakh per family is provided for new construction.

 

2. Rajiv Awas Yojna: (2011)

Rajiv Awas Yojana (RAY) is an affordable housing scheme announced in 2009 aiming for a “Slum Free India”.This affordable housing scheme includes:

a. The slum properties are used to make apartments for the slum land owner.
b. Encourages the state and union territories (UT) to bring all illegal constructions within a formal system.
c. Affordable housing in partnership (AHP) with the States & UTs. Each EWS house gets Rs. 75,000 Central Assistance for house sizes upto the carpet area of 21 to 40 sq.m when at least 250 dwelling units of the total construction project.

 

3. Interest Subsidy for Housing the Urban Poor (ISHUP): 2009

This scheme mandates subsidy of 5% p.a in interest on housing loans upto Rs. 1.00 lakh loan amount to the EWS and LIG as part of credit.

Under this affordable housing scheme, the Minister for Housing and Urban Poverty included the Regional Rural Banks (RRBs), Private & public sector Banks and Self Help Groups (SHGs) for expanding credit flow to the housing sector.

This scheme also encourages the poor sections (EWS & LIG) to avail for housing loan facilities.

 

4. National Urban Housing & Habitat Policy: (2007)

The core focus of this Policy is supply of “Affordable Housing For All” with special emphasis on low income sections of society such the urban poor, SC/ST, BC and Minorities.

It promotes and accelerates the development of cost-effective & quality approved building by the use of modern technologies. And special Provision given to Women to own a house.

 

5. Jawaharlal Nehru National Urban Renewal Mission (JNNURM): 2005

JNNURM is a city modernisation scheme has two components

  1. Basic Services for Urban poor (BSUP)
  2. Integrated Housing and Slum Development Programme (IHSDP): development of slums by providing affordable houses with basic amenities

There are many real estate company making affordable apartments in Chennai for encouraging the middle class group to buy their own house.

The Central government is coming up with so many affordable housing schemes to balance the demand and supply of the houses. Apart from that, many State Governments like Tamil Nadu, Andhra Pradesh, and Gujarat etc are also encouraging EWS, low and middle income groups to afford houses either by loan subsidy, rental benefits or by constructing affordable houses.

 

apartments in chennai - How to Find a Right Apartment at Affordable Price

Jul 27

How to Find a Right Apartment at Affordable Price

You move to an economically evolved city. You couldn’t find a townhouse for an average price. People shift to cities for job, career and a better life. Once, you adopted the city lifestyle. They plan to get settled in this crowded culture. And our quest for a right apartment at an affordable price.
There will be a hunt for a perfect home under budget. The apartments are likely to be in demand. They come with a full package of facilities and amenities. And, with a 24*7 security gated community. People get drawn in towards it.

Hope you are scrolling the browsers to find a great apartment in your city. You have checked through lots of established builders. The one, who has enrolled as a best among the list. On getting into the assignment, we must think prior. We have to choose our right location, lifestyle, budget etc.

So, to find an apartment with an affordable housing definition. We have a few aspects to consider.

1. Location

Location is a major reason to look for because it’s the base for your home.

  • Your apartment should hold up a value. Today and also especially tomorrow. The extra credit value of the land will drag the location with all the facilities.
  • Peace is what everyone need is. We are not in love with the sounded environment with populated vehicles, crowd and pollution. The place should drive a tranquillity with good environs.
  • Look for the basic needs like transportation, pharmacy and supermarket etc. The locality should fulfil our basic needs before stepping into the luxury.
2. Budget

As the topic says it as affordable housing, It needs to one of the divisors while buying your home in a metro city.

  • You have enough payment procedures abandoned with extra money to pay off. So, plan accordingly before committing to a property.
  • Though you can apply for the loan and the housing scheme, we should pay some money in hand. Your loan approval may get delayed, so contrive an idea to handle it.
  • Personal pocket-friendly, with an affordable price your house is valued for money. And you can have a decent life in an apartment than a rented one.
3. Quality & Facility

Don’t you think these two matters a lot in choosing your right home? These two elements evaluate your home under quality and facility.

  • Quality says it all, try to figure out the other projects by the same builder and get to know the customer feedback. You will get some ideas about it.
  • You should ratify all your clarification with the customer service apartment. It helps immensely to choose the good.
  • Glance through around for the facilities you were accessible and mobile.

Buy a home with no pressure after you start habitat. We should never be pushed with the stress of EMI or huge loans. Live a happy life in your affordable zone.

Live a Happy life in an Affordable Price!