Usha Breco Realty to develop second affordable value housing project in Boisar

Mumbai based Real Estate developer; Usha Breco Realty Limited, an Usha Martin Group company, to develope its second affordable value housing project in Boisar  near Mumbai under the brand Usha Spaces. The firm stated that it has strategically planned to develop a second project following the excellent response to its first mega residential township project. With the launch of the company’s second project in the same year, Boisar assures distinct significance as a convenient location of choice for affordable housing in close proximity to Mumbai.
 
For the new project Usha Breco Realty Limited will be developing approximately 500 units in 2 & 3 BHK formats including a series of Row Houses. The project is expected to be launched by early 2011 and will be competitively priced, offering customers the best of modern amenities.
 
Uday Dharmadhikari, CEO – Usha Breco Realty Ltd said, “Recognizing the need to cater to the lucrative Indian affordable housing segment, we had launched our first affordable value housing project ‘Chhaya Niwas’ in Boisar in June this year, and received an overwhelming response to the project. We managed to successfully sell more than 80% of the 300 units that were on offer for the project’s first phase in record time, and will soon be launching the second phase of 258 units.”
 
Another value add to ‘Chhaya Niwas’ is that the project has received a “Mumbai-4 Star” rating from CRISIL based on various stringent project-specific parameters establishing it as the country’s first affordable housing project to be assigned a rating of this scale. Commenting on this development, Mr Dharmadhikari said, “We our committed towards offering homes that are competitively priced and incorporate the essential elements for qualitative and affordable living. At Usha Breco Realty, we have always been passionate about providing convenient living spaces for home seekers and will continue in setting higher benchmarks in the space.”
 
The emergence of Boisar as an important commercial destination has led to an increase in the demand for qualitative housing in the location; Boisar at present houses good educational institutions, shopping complexes, banks and restaurants and several big corporate houses.
 
There have been a series of affordable housing township projects that have been launched by leading developers to cater to the local demand as well as strong demand from surrounding areas.
 
Mr. Dharmadhikari further added, “We have also observed that there is a significant level of demand for second homes from Mumbai buyers seeking to procure properties in Boisar. The soon to be launched Western Railway services from South Mumbai to Boisar are expected to add further impetus to the location and aid an increase in the demand for qualitative residential housing in the area.”
 
The firms affordable value housing project ‘Chhaya Niwas’ being developed at Boisar has received a “Mumbai – 4 Star” rating from India’s premier credit rating agency CRISIL. This is the first affordable value housing project rated by CRISIL.

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