Matheran Realty launches Rs 3 lakh flats at Mumbai

Mumbai, Aug 11: City-based real estate major 'Matheran Realty' (MRPL) announced the sale of its social housing ''Tanaji Malusare City (TMC)'' flats at Karjat here on Monday, Aug 11.

There are around 15,000 low cost flats spread over 8 million sq ft area. The prices start from Rs 3 lakh (1 Room-Kitchen), Rs 5 lakh (1 Bedroom-Hall-Kitchen) and Rs 7 lakh (2 Bedroom- Hall-Kitchen). The housing complex will also boast of its own solar powered street lighting and water supply along with playgrounds, parks and six-lane road to Karjat station. ''The cost of these flats work up to Rs 999 per sq ft. The common man can afford to pay Rs 2,000 as EMI and Rs 1,200-Rs to 1,500 per month for the purchase and maintainance,'' TMC, CEO, Pravin Banavalikar said, at the announcement. ''We are holding talks with major banks to facilitate loans for buyers,'' he added.

''The cost of each flat works out to Rs 2-2.5 lakh and we plan to recover our costs from the commercial projects for which, 10 per cent of the area has been earmarked. We will be developing shopping malls, hospitals and entertainment centres to cater to 60,000 residents,'' he said.

Commenting on the response, Banavalikar said the company has received over 50,000 enquiries since marketing the flats began from July 24.

UNI