Netz Realty to partner with SRA projects for Budget & Affordable housing within Mumbai City

Dec. 27, 2010 - PRLog -- Affordable housing focused firm Netz Realty has identified a niche for providing affordable housing in Mumbai city in large numbers. The firm is partnering with SRA projects for development of compact studio budget housing projects.

"SRA Projects occupy large land parcels in Mumbai and due to current market conditions, current developers are unable to monetize the projects. SRA Projects can not be developed with premium residential housing. Also, the market for commercial spaces in Mumbai is not doing well. Netz Realty is partnering with SRA projects where Slum has been already rehabilitated and developers are confused with development options." said Mr. Ameya Gore, Chief Spokesperson for Netz Realty Corporation.

"Such project can be converted into a Compact budget studio housing project with good amenities for which market is huge and constant. Netz Realty will do a JV with local SRA partner or buy out the project with the help of private investors and then launch the project as a affordable housing project." Mr. Gore added.

"We are starting with Mumbai due to the huge demand here and will be able to provide over 1000 affordable houses within city limits every year."

"The compact houses will be anywhere between 450 sq. ft. to 600 sq. ft. and will be priced between Rs. 40 lacs to Rs. 70 lacs. The company is already working on this model at a project in Andheri West and will soon be launching more projects in partnership with developers at locations such as Andheri East, Wadala, Malad West and Mahim."

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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.