Vastushodh Projects plans five townships in Pune

December 29, 2009

Vastushodh Projects, a construction company in Pune, has decided to focus on the affordable-housing segment and is planning five micro-township projects around satellite areas located on the highways around Pune.

“There is a huge gap in this segment and customers in this category are left unattended. Therefore we are attempting to fill this gap,” said Sachin Kulkarni, MD, Vastushodh Projects.

Vastushodh is lauching ‘Anandgram’ -- its first micro-township project at Yavat on the Pune-Solapur road, which will have 750 housing units ranging from 300-550 sq ft. Yavat project is estimated at Rs 35 crore. “Prices would be in the range of Rs 3-7 lakh, inclusive of stamp duty and registration charges,” said Kulkarni.

“The company intends to cater to the unorganised sector and is in the process of tying up with the Micro Housing Finance Corporation (MHFC) to fund upto 75-80 per cent of the cost of a unit without any proof of income,” Kulkarni added.

The company is in the process of developing similar projects on highways connecting Pune including the Nagar, Satara and Paud roads. There are plans to construct 5,000 houses through such townships, spread over 10-20 acre in the next three to five years.