photo credit: Swami Stream
An Indian developer has announced what it says is the country’s first affordable city housing project, featuring 912 new homes.
Ozonegroup unveiled Ozone Evergreens, to be built on a 10 acre site in Bangalore, featuring two and three bed-roomed properties.
The project is one of the biggest commitments to affordable Indian housing to date, after the market saw a deluge of high-end homes.
Vasudevan S, Ozonegroup managing director said the scheme would “fulfil the aspiring need for quality, affordable housing”.
He said:
“We have been working on lowering the bar for home buyers and will now have the unique distinction of being the first real estate development company to develop and offer a ‘city-based affordable housing project’.”
Highlights of the scheme include a club house, gym, women-only pool and an emergency ambulance to be used exclusively by residents.
Ozonegroup aims to build environmentally responsible homes and is an emerging force in the Indian real estate market.
Executives said the Bangalore homes scheme would be finished and ready for handovers by February 2011.
Many Indian developers have begun to build homes worth around Rs 20 lakhs after the government said banks would provide home loans up to that figure at no more than 9.25 per cent interest.
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this is indeed great piece of news! in times of recession, its reassuring to see Ozonegroup offering affordable housing and that too within city limits!