Poddar Housing bets big on affordable segment

Riding high on the prospects of the Pradhan Mantri Awas Yojna (PMAY), city-based realty playerPoddarHousing plans to launch nearly 41,000 units under the scheme over the next few years.

The company has already launched the first phase of its project 'PoddarWondercity' under thescheme at Badlapur East in the neighbouring Thane district.

The phase one of the project has 1,863 flats with a built-up area of around 1.2 million sqft, while the entire project will have in the excess of 4,000 units, to be completed over the next few years.

"The PMAYis a wonderful scheme if understood and executed well. We have traditionally been in the affordable housing segment and developing projects under the scheme is just an extension to the same," managing director RohitPoddarhas said.

He further says the company hopes to launch two more projects under scheme and has identified areas like Kalyan near Thaneand Chakan in Pune.

Poddar, however, did not reveal further details on the project, but according to company sources, it plans to develop around 41,000 units under the scheme in these three locations.

The company is also planning to launch a township comprising nearly 25,000 units in Chakan, which will be the largest development so far and will be developed over a span of the next decade.

"I feel this is the right time to launch the projects as we have seen a lot of demand in the affordable housing segment. Also, this scheme is here to stay irrespective of who comes to power after the forthcoming polls. So we are very confident about its success," Poddar adds.

Apart from these, the company is also planning to launch a few other projects including two affordable housing projects with one each in Pune and Kalyan, during this fiscal.

The company has so far delivered over 4,200 units over the last seven years across its projects.