The Mumbai-based real estate developer, Ruparel Realty will build 7,500 affordable flats in areas like Palm Beach, Matunga, Parel, and Dadar, where the project is destined to be completed by 2022. The firm, which has already provided 1,025 affordable apartments since its inception in 2000, is currently developing these new projects in different areas of the city, Amit Ruparel, Managing Director, said, adding that currently Mumbai has a demand of 20-25 lakh affordable houses of one to three BHK flats measuring 30 square metres or 320 sq.ft, which have been included in the affordable housing category. The company's 5,000-flat project in Kandivali, launched in April 2017 and priced between ₹52 lakh and ₹60 lakh, was a success as its first phase of 1,500 flats and were sold out soon afterwards. Right pricing and good construction are the biggest factors for the success of a project as the sector is very price-sensitive. The real estate developer's latest project in Chembur has 2,500 flats, with first phase of 250 flats is currently under construction. Its other smaller projects under the affordable housing category are in various stages of development.
📅Published on:
25 July 2018
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