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Karrm Infrastructure to provide affordable housing for 5 lakh families in Maharashtra

Karrm Infrastructure To Provide Affordable Housing For 5 Lakh Families In Maharashtra

Karrm Infrasturucture Pvt. Ltd. Has recently announced the launch of affordable housing project in Shahapur, Maharashtra under the umbrella program – mission 360. This project would provide affordable housing to more than 15,000 families at a cost of INR 7, 90,000 per unit. Mission 360 would provide affordable housing to 5 lakh families at 360 locations across Maharashtra, with Shahapur being the first. The company has further announced a rapid expansion to 7 more locations over the next quarter.

On the announcement, Vivek Oberoi, Promoter & Partner, Karrm Infrastructure Pvt. Ltd. said, “I entered real estate in 2004, after my work for the relief camps for Tsunami victims. After which we realized the need of redeveloping the villages in order to provide proper sanitation and housing solutions to all. With Karrm Infrastructure, we are carrying forward the same ideology but at a larger scale with our aim to develop affordable housing solutions for the underprivileged across India.”

Lack of proper housing is a grave problem in India and according to the 2011 Census; there were 1.77 million homeless people in the country, or 0.15% of the country's total population. On one hand, there are millions who do not have a house of their own and on the other hand the 24.7 million houses are vacant which is equal to 90 % of the rented houses in the country.

Karrm Infrastructure has closely analyzed this situation and has hence come up with an innovative solution to provide affordable housing and eradicate this social paradox. The Shahapur facility is a township that has 15,000 apartments with 5000 families already living there, who have migrated there from Bhiwandi slums. Another 10,000 families will be moving in during the next 18 months.

The project promises a gated community and would provide holistic living environment - clubhouse, hospitals, swimming pool, multiplex, commercial complexes, schools - where people can avail of all facilities and also find employment. The company is in advance level of discussion for partnerships with BMR and associates, NCCCL, HDFC, Avendus and National Housing Bank to support the project.

The townships under Mission 360 will follow a hub and spoke structure. Karrm Infrastructure Pvt. Ltd. will pick up a primary transit point and ensure smooth connectivity to the township. In Shahapur project, Asangaon is the closest train station that connects to all main stations i.e. Thane, Bandra, Mumbai Central, Andheri etc. The company is further building credit history for the customers so that they could be included in the economy and easily avail banking and financial services.

About Karrm Infrastructure: 

Karrm Infrastructure Private Limited has over 11 years of track record in real estate development and known for sustained growth, customer delight, and bottom-of-the-pyramid innovation. The development business of Karrm Infrastructure includes commercial properties and residential business for - Affordable, Economy and Premium segments. The company is a market leader in the development of the affordable homes segment, and is currently focusing on scaling up this business segment, The company has approximately 3 msf (million square feet) of completed projects with 4.5 msf of projects under construction. The company has land resource of 30 msf for residences, commercial and retail. Apart from Thane, Mumbai, the company is expanding in more than 50 cities in India.

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