Netz Realty targets and invites re development projects for Compact low cost housing

Sept. 30, 2010 - PRLog -- Netz Realty, a real estate development firm focused on providing affordable housing for the young working population and nuclear families is focusing on re development projects across Mumbai to provide affordable compact housing schemes that can be made available in the price tag of 40 to 60 lacs within Mumbai's prime areas preferred for working population.

"Through every re development project, we can add 50 to 100 units of affordable compact houses that is need of the hour. Most developers negotiate a deal with local tenants, provide them houses of upto 300 sq ft. and develop rest of the project as super premium 3-4 BHK houses. Such houses lie vacant for long period of time and the actual needy working class and nuclear families are homeless unable to find a house in Mumbai. " said Atul Khekade, partner of Netz Realty Corporation.

"Most developers are misusing the term 'affordable housing' by building houses in far outskirts of Mumbai city. Such places are affordable anyway but working population need homes within the city." said Anand Wagle, a executive in the banking industry who is unable to find a house within his budget of 50 lacs rupees. "I have been searching for a house in my budget for the last 2 years and I feel my dream will never be realized untill developers like Netz Realty are supported in a big way. Any project that I enquire quotes me back a price tag of 1 to 3 crores, which not just me, but not many people can afford." added Mr. Wagle.

"With real estate prices skyrocketing upwards, city's working young population and nuclear families need a serious solution for housing. In other metro cities across the world, the solution for this problem has been found by developing compact studio homes. Government should grant higher FSI to such developers developing affordable houses within the city as is done by other major countries across the world." said Mr. Kapoor, who heads a Real Estate consultancy firm.

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Netz Realty Corporation, a firm focused on providing affordable housing to the masses. The firm provides an array of services centered around Affordable housing such as Development, Marketing. Sales, Finance and Investment.