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Despite recession, companies are offering helping hand to boost affordable housing in Pune. ACG Worldwide (Associated Capsules Group) and Pune-based affordable housing developer Vastushodh Projects have joined hands to create affordable homes at Shirwal on Pune - Kolhapur highway.
According to ACG, this is said to be a first of its kind project where a corporate is offering its land to a developer who will put up the housing projects without charge, keeping part of land to cover its own expenses and a reasonable profit. ACG will provide 16 acres of land adjacent to its industrial complex for development of a residential project to Vastushodh at Shirwal. Sizes of the flats here would range between 356 sq ft-794 sq ft that would be priced between Rs 10-25 lakh.
Speaking on this, Ajit Singh, Chairman, ACG Worldwide said, "We were watching the concrete and systematic efforts of Vastushodh creating good quality affordable homes on the outskirts of Pune, which prompted us to explore an association with them for creating a housing complex for our own associates (employees). Thus, the idea of coming together was conceived, which is today getting transformed into reality."
Commenting on this tie-up Sachin Kulkarni, managing director, Vastushodh Projects said, "Ever since we entered this segment we have always strived hard to overcome various barriers in the development of affordable housing projects. This is indeed a significant and welcome step by ACG which will unlock the land in possession of such corporate giants for the cause."
Total 850 flats shall be constructed at the site with options like 1, 1.5 and 2 BHK of which around 210 shall be retained by ACG worldwide as quarters for its personnel and the remaining shall be offered to the market. Vastushodh has constructed 1,700 housing units and is in the process of constructing 13,000 more units in the affordable housing segment.
