Home buyers should take benefit of PMAY: Mandaviya

Source: The Hitavada      Date: 28 Feb 2017 11:02:40


By Ravi Chandpurkar,

AFTER a gap of one year, the depressed realty market seems to look up and witness a surge in demand as home buyers are returning to buy their dream homes. First-time home buyers have been given an opportunity to buy their dream home with a subsidy of Rs 2.20 lakh. The Government has introduced the Pradhan Mantri Awas Yojana (PMAY) to provide affordable housing to the middle class and give boost to the realty market.
“The Government has introduced PMAY, a wonderful initiative to give relief to first-time home buyers and push demand in the realty market,” said Narendra Mandaviya, Director of Green Space Infra, in an exclusive interview with The Hitavada.


“There is a need to bring out more awareness among the masses so that large number of people take benefit of the PMAY scheme. The PMAY provides a direct subsidy of Rs 2.20 lakh to people fulfilling the set norms,” he added.
For example, if a person buys a dwelling unit at Rs 15 lakh, he will have to pay EMI on Rs 12.80 lakh only, which is a huge benefit. The PMAY would give benefit to people who do not have house. It would also boost demand in the affordable housing sector. “Also, the Government has introduced the RERA Act which is also a good initiative by the Government in the interest of the consumers,” said Rajendra Mandaviya, Director of Green Space Infra. Commenting on the recent Supreme Court judgement that a group of flat owners can approach the National Consumer Disputes Redressal Commission (NCDRC) if the total value of the disputed deal is over Rs 1 crore, he said that the rule should not be used to harass builders. One-sided laws should be avoided as it would discourage builders.


After the grand success of Green City I and II, Green Space Infra has received an overwhelming response to its Green City III project where maximum number of customers have taken benefit of the PMAY. Green City III township consists of 226 units and six shops located at Gowsi-Manapur, behind Sahara City, Wardha Road.
The township offers solar panels for hot water, sewage treatment plant, landscaped garden etc. Construction is going on in full swing and 75 per cent of the work has been completed. The project would be handed over by December. On the future plans, he said that Green Space Infra would be launching Green City IV in 2018 consisting of 350 units at Ghugli-Shankarpur Road.


Viral Mandaviya, Director of Green Space Infra was also present. Interested may contact at Plot No 6, Dr Khankhoje Nagar, Manewada Cement Road, near Siddheshwar Sabhagruh (Ph: 8446080803; 0712-2753993).