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Bengal Aerotropolis enters into the 'Affordable Housing' segment

| | Aug 21, 2014, at 11:13 pm
#Bengal Aerotropolis enters into the 'Affordable Housing' segment
Kolkata, Aug 21 (IBNS): Continuing with its vision of developing societal infrastructure for the state of West Bengal, Bengal Aerotropolis Projects Ltd (BAPL), the specialized infrastructure company engaged in the identification and development of aerotropolis projects in India, currently developing India’s first aerotropolis in Durgapur, West Bengal on Thursday announced its entry into the 'Affordable Housing' segment.
It announced that the company has associated with Larica Group – one of the major players in the realty segment of Eastern India, to roll out a 10,000- unit budget housing project spread over an area of 10.56 acres within the residential precinct of Sujalaam – The Sky City in Durgapur.
 
Targeted at the Lower Income Group category, the project will be taken up in phases and about 2000 units are to be developed in Phase – I. 
 
The project will see world-class amenities like green open space, elevators in each of the residential towers, recreational facilities like that of a Club, swimming pool, indoor and outdoor sports infrastructure, all at a reasonable price band of 5 lakhs to 15 lakhs.
 
The announcement assumes paramount importance, considering that the state of West Bengal is estimated having a current urban housing shortage to the tune of 13 lakh units. 
 
As per industry estimates, West Bengal is likely to face an acute housing shortage of 2.68 million units by 2030 and about 99 percent of this shortfall will account for the households belonging to the Economically Weaker Section (EWS) and Low Income Group (LIG) categories.
 

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