The real estate sector is buzz with affordable housing projects these days due to the government’s mission to provide affordable housing for all by 2022 under the Pradhan Mantri Awas Yojana(PMAY) scheme. The scheme provides Credit Linked Subsidy (CLSS) on home loans on investing in an affordable housing. Bigger cities like Bangalore, Mumbai, Chennai all have their fair share of affordable housing projects which are economical and affordable to all. Affordable housing takes into account 3 parameters – income level, size of dwelling and affordability.

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Many of the affordable housing projects in Mumbai are being launched in suburban regions like Navi Mumbai, Thane and Mira-Bhayandar. Listed below are some of the area-wise projects!

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Projects in Navi Mumbai

1. Om Sai Heights Apartment

Om Sai Heights Apartments, Panvel, Mumbai, Navi Mumbai

Location: Plot No. A 59 At Ulwe, Panvel, Mumbai, Navi Mumbai

Rate: Rs 8370/sqft

Configuration: 1,2 BHK Apartments

Price Range: Rs 19.69 lac – 34.71 lac

No. of dwelling units: 39 units, 1 building

Total Construction Area: 0.43 acres

Developer: Om Builders and Superstructures

 

2. Mahaavir Majesty Phase 1

mahaavir-majesty-Panvel-Taloja-mumbai

Location: Plot No. Survey No 1, Hissa No 1/B/1, Survey No 1, Hissa No 1/C/1, Ghot, Panvel, Taloja, Mumbai, Navi Mumbai

Rate: Rs 4860/sqft

Configuration: 1, 2 BHK Apartments

Price Range: Rs 17.26 lac – 24.0 lac

No. of dwelling units: 144 units, 3 buildings

Total Construction Area: 1.72 acres

Developer: Mahaavir Universal Homes Pvt Ltd

 

3. Akshar Emperia Garden

Akshar Emperia Garden, Panvel, Navi Mumbai

Location: Gut – 22, Karade Khurd, Rasayani, Panvel, Navi Mumbai

Rate: Price on Request

Configuration: 1 RK, 1 BHK Apartments

Price Range: Rs 24.47 lac – 27.72 lac

No. of dwelling units: 308 units, 4 buildings

Total Construction Area: 2.5 acres

Developer: Akshar Developer

 

Also Read: 17 Affordable Housing Projects Under 50 Lakhs in Bangalore

 

4. Sairekha Laxmi Vishnu Vihar Apartment

Sairekha_Lakshmi_Vishnu_Vihar_Panvel_Mumbai

Location: Plot No. 191, At Palaspe, Panvel, Mumbai, Navi Mumbai

Rate: Rs 6075/sqft

Configuration: 1 RK, 1 BHK Apartments

Price Range: Rs 14.21 – 24.91 lac

No. of dwelling units: 21 units, 1 building

Total Construction Area: 0.18 acres

Developer: Sairekha Developers

 

5. Vaastusiddhi Hillview Apartments

Vaastusiddhi_Hillview_Apartments_Poyanje_Mumbai

Location : Survey No 34/1, 36/5, 120/0, Village Mohape, Taluka Panvel, Poyanje, Maharashtra

Rate : Price on request

Configuration :1 RK, 1 BHK Apartments

Price Range : Rs 23.31 – 36.29 lac

No. of dwelling units : 126 units, 11 buildings

Total Construction Area : 45 acres

Developer : Vaastu Siddhi Group

 

Projects in Mira-Bhayandar

 

1. Seven Eleven Apna Ghar Phase II Plot A

Location : Plot No. Property Bearing S. No. 25/2, Hissa No. 1/1 And 1/2 Of S. No. 111 And S. No. 112/1, Mira Bhayandar (M Corp.), Thane, Mira Road East, Mumbai, Mira Bhayandar

Rate : 10,500/sqft

Configuration :1 RK, 1 BHK Apartments

Price Range : Rs 15.69 lac – 33.91 lac

No. of dwelling units : 1382 units, 5 buildings

Total Construction Area : 4.86 acres

Developer : Seven Eleven Group

 

2. Arkade Art Phase 1

Arkade_Art_Phase_1_Mira_Road_East_Mumbai

Location: Plot No 109/3, 6, 111/10, 121/1, 2, 8, At Mira Bhayandar(M Corp.), Thane, Mira Road East , Mumbai, Mira Bhayandar

Rate: Rs 9975/sqft

Configuration: 1,2,2.5 BHK Apartments

Price Range: Rs 38.35 lac – 52.99 lac

No. of dwelling units: 262 units, 2 buildings

Total Construction Area: 0.21 acres

Developer: Arkade Group Builders

 

2. Span Exotica Wing B

Span_Exotica_Mira_Bhayandar_Mumbai

Location: Old Survey No. 577, New Survey No. 266, Hissa No. 5, Thane, Bhayandar West, Mumbai, Mira Bhayandar

Rate: Rs 12,350/sqft

Configuration: 1 RK,1,2 BHK Apartments

Price Range: Rs 39.99 lac – 80.00 lac

No. of dwelling units: 44 units, 1 building

Total Construction Area: 0.68 acres

Developer: Span Group

 

Projects in Thane

 

1. Vantage Green Woods Buildings 2 to 6

Vantage Green Woods, Thane

Location: Survey No. 24/2, At Thane (M Corp.), Sil Phata, Mumbai, Thane

Rate: Rs 5,670/sqft

Configuration: 1,3 BHK Apartments

Price Range: Rs 18.38 lac – 44.00 lac

No. of dwelling units: 196 units, 5 buildings

Total Construction Area: 1.71 acres

Developer: Vantage Land Developers

 

2. AL Saad Hira Residency Phase II

Al Saad Hira Residency, Shilphata, Thane

Location: Survey No 201, Hissa No 2 At Thane(M Corp.), Shil Phata, Mumbai, Thane

Rate: Rs 6,750/sqft

Configuration: 1,3 BHK Apartments

Price Range: Rs 23.22 – 33.55 lacs

No. of dwelling units: 104 units, 2 buildings

Total Construction Area: 0.77 acres

Developer: AL Saad Constructions

 

3. Aditya Paraiso Phase 1

Aditya Paraiso Phase 1, Shilphata, Thane

Location: Survey No. 17/2, 17/3, 20, Kalyan Shil Road, Village Padle, Shilphata, Taluka District Thane, Thane

Rate: Price on request

Configuration: 1,2 BHK Apartments

Price Range: Rs 23.22 lac – 33.55 lac

No. of dwelling units: 307 units, 2 buildings

Total Construction Area: 1.48 acres

Developer: Om Aditya Associates

 

4. Om Residency

Location: S. No-107 Hisa No-8, Nilje Station Road, Lodha Haven, Dombivali, Mumbai, Thane

Rate: Rs 7297/sqft

Configuration: 1,2 BHK Apartments

Price Range: Rs 27.22 lac – 37.81 lac

No. of dwelling units: 124 units, 6 buildings

Developer: Om Realty

 

With landmark RERA Act, Affordable Housing Scheme, GST roll out, Indian real estate is all set for a paradigm shift in days to come. It will be also interesting to see how Mumbai responds to launch of several affordable housing projects in different regions especially suburbs. These projects should come as a relief for aspirational home buyers in and around Mumbai who wish to own a house and retire in a dream city like Mumbai. Will it be helpful in govt’s motive of providing Housing for All in Urban area by 2022. Time will tell. 

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