In its endeavor to support the Government’s Pradhan Mantri Awas Yojana (Urban) scheme, Pune based Playtor Childspaces Pvt Ltd announced the successful handover of the first lot of 80+ units under Pradhan Mantri Awas Yojana (Urban)scheme valued at Rs.7.80+ crore.
Playtor Childspaces, a joint venture between Brick Eagle Group and Bhansali family, is a leading developer in the affordable housing space in Pune. The company’s vision is to provide a platform to build affordable, child-centric homes. Playtor is delivering homes at less than Rs. 10 lakh, making home buying a dream come true for the middle income group.
“Within a short span of two years, Playtor has successfully emerged as a brand name in Pune. The company has launched three projects in past two years, housing about 2,500 units. Under Pradhan Mantri Awas Yojana (CLSS), Playtor is closely working with Housing Finance Companies (HFC) and banks to provide customers with a subsidy of upto Rs. 2.2 Lakhs. We consider Pune as a crucial growth market for Playtor and we hope to have many more successful launches in the city.” said Rajesh Krishnan, Founder & CEO, Brick Eagle Group.
Under CLSS, customers benefit due to ease of getting a loan coupled with low interest rates. This is immensely helpful for the lower income group and the economically weaker sections to realize their dream of owning a home in employment centric areas like MIDC and other IT hubs. Playtor is successfully fulfilling dreams of thousands of such people in and around Pune, with the help of Pradhan Mantri Awas Yojana (Urban) scheme
Commenting on this development, Sujeet Bhansali, CEO, Playtor, said, “We are thrilled to achieve this milestone in such a short span. Inspired by Prime Minister Narendra Modi’s dream project, Playtor’s mission is to provide 50,000 affordable homes by 2022. This mission is our top priority and we are constantly working towards translating this mission into actionable targets.”
The homes being developed by Playtor under this scheme are equipped with landscaped manicured gardens, jogging tracks, temples, tree houses for children and recreational amenities for senior citizens. Apartments in these projects are sized at 363 sq ft for one BHKs and 507 sq ft for two BHKs.
Union urban development minister Venkaiah Naidu has approved a total of 10.10 lakh houses for urban poor under Pradhan Mantri Awas Yojana (Urban) in just one year, against 10.30 lakh houses approved in nine years between 2005 and 2014 under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). An investment of Rs 59,771 crore has been approved with central assistance of Rs 14,955 crore.
The real estate sector is not only one of the major contributors to India's GDP, but also the second largest employment provider in India. Prime Minister Narendra Modi’ has put in a lot of emphasis on low cost housing and boosting initiatives like Smart Cities which will help mould the real estate sector to be the driving economic force.
