The project is demand driven and self-financed with no business motive, according to A.P. Rajiv Swagruha Corporation

Does affordable housing mean cheap housing? Or compromising on space that is ideally required for a family?

No, says the A.P. Rajiv Swagruha Corporation which has completed its project ‘Arambh' at a happening Chandanagar and is looking at more. The Rajiv Swagruha as affordable housing scheme for moderate income groups in the urban areas of the State was started by the State government and in its first project already gave possession to 850 families.

According to the officials of the Corporation, the project is demand driven and self-financed with no business motive.

The scheme provides best quality of houses in a gated community with all basic infrastructure and facilities of modern day to ensure premium lifestyle at an affordable cost, said an official.

The cost factor here involves Rs.9 lakh for a single bedroom flat and Rs.15 lakh for a double bedroom flat. This pricing is in effect till November 30. This apart, the other cost include Rs.1 lakh for covered car parking and Rs.30,000 for open car parking with the condition that the parking would be allotted on first come first basis.

The integrated township located on 16.20 acres and taken up at a total cost of Rs.132.25 crore is spread out as 240 single bedroom flats in four blocks with 486 sft plinth area in ground plus 5 pattern and 900 double bedroom flats in 15 blocks with 697 sft plinth area in similar G+5 construction pattern.

Location wise, it is about 8 kms from Madhapur, 6 kms from Gachibowli with the MMTS stations of Lingampally and Chandanagar flanking at 1 kms distance on either side.

The Corporation has announced that it would take the responsibility of getting the flats registered on the allottees names with no extra charge.

New applicants have to pay Rs.5,000 as registration fee and Rs.250 as application fee, both non-refundable, and pay 15 per cent cost of the flat at the time of booking and block the flat. The same would be reserved with the condition of 10 per cent cost of the flat to be paid within 15 days from the date of booking. The remaining balance 75 per cent cost of the flat has to be paid within two months.

According to the Corporation, Arambh also acts as facilitator and process the bank loans for eligible applicants.

The State Bank of India (SBI) Humayun Nagar branch has adopted the project and has processed most of the loans for the existing residents in the township.

T. LALITH SINGH