Netz Realty Launches Budget Housing projects in Mumbai
Netz Capital backed real estate firm, Netz Realty has launched Budget yet luxury houses in the heart of Mumbai city. The houses based on the concept of studio apartments cost between 25 lacs to 45 lacs.
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-- Following the need of common man in Mumbai, Netz Realty has launched two projects in the heart of the city, Andheri, that come at a budget price tag of between 25 lacs to 45 lacs. The size of studio apartments is between 250 square feet to 400 square feet.
"Real Estate developers in Tier 1 cities are building houses that cost beyond the budget of common man in Mumbai." said Renuka Khekade, Chief Spokesman for Netz Realty. "Finding a roof to sleep under has been a major concern for working population in cities like Mumbai. It is really unknown how the Real Estate Developers keep building homes that cost in excess of 1 Crore which is impractical to buy for most of the prospective home buyers in cities like Mumbai." added Mrs. Khekade.
"It is quite conclusive to note that real estate developers have lost touch with the common man. Cheaper housing projects exist, but their location makes it impractical for someone to stay there and travel to Mumbai for work." said Ambarish Pradhan, a local citizen who has been unable to find a house in his budget since the last three years.
"Currently, the rates for residential real estate in Suburban area of Mumbai stand at a whopping Rs. 12,000 to Rs. 15,000. Rates in South Mumbai for the same area stand in the unrealistic range of Rs. 25,000 to Rs. 50,000. At such prices, a 1 BHK of about 500 sq ft would cost 60 Lacs to 2.5 Crores, a price tag that 99% of the population can not afford." Mr. Pradhan added.
"We are glad to players like Netz Realty work on the basic need of a Mumbaikar."
Speaking on the concept of studio Apartments, Mrs. Renuka Khekade said "Studio Apartments are well furnished houses without walls that provide open space to fit a kitchen, bedroom and living room layout for area size as small as 250 sq ft. carpet. The layout of studio apartment is flexible and can be changed any time. Studio Apartment can be fit into an existing project under construction and can provide lavish staying option for a typical working family. Major global metro cities have adapted to similar standards of housing to provide cost effective housing for local citizens."
"A Typical home buyer in Mumbai spends about 8-10 hours in office, about 2-3 hours in travel and works approx. 6 days a week. Most population in Mumbai is young and lives in the Nuclear Family structure. Income range of most of the population stands at about 3 lacs to 15 lacs per annum. Such buyers need a pleasant yet affordable place to stay which is also not far from the city's central location."
"We will soon be launching such projects in various other areas of Mumbai and other tier I cities like Delhi, Chennai, Kolkata and Bangalore." Mrs. Khekade added.
