Page 90 - HUDCO-SHELTER-APR21

CASE STUDY

forms less than 40% of income ceiling/limit was raised lakh and Rs.9.6 lakh respectively
household income. to Rs.30,000, Rs.50,000 and in the recent years. Therefore,
Rs.80,000 respectively for LIG, the Shukhobrishti project was
v For Upper MIG
households (MIG-U), the MIG-L and MIG-U sections of responding to the inflation and
size of three bedroom respectively. Further, the price income rises by re-working the
house (or, 3 BRK) was of 1 BRK, 2 BRK and 3 BRK price of housing units as well as
fixed at 690 sqft floor area housing units was also raised to bringing more people eligible to
(carpet area), which also Rs.6,00,000, Rs.15,50,000 and apply for housing units. At the
conforms to the MIG Rs.24,65,000 respectively same time, the prices of housing
affordable housing (BSHDPL 2016). Therefore, the units are well within the reach of
definition as under 1000 sq definition of affordable housing LIG and MIG households and
ft. The household income still stands out with reference to were relatively low when
ceiling/limit was set at Rs the project housing units. compared to similar other
40,000 per month. The cost Further, the price of units is far projects. This is evident from
of MIG-U housing unit below that of comparable the huge value premium that
was fixed at Rs.10,12,000, private/public housing projects. they command in secondary/
which can be financed at a Target Beneficiaries resale markets.
monthly instalment (or, Allocation Process
EMI) of Rs.10,100, The Shukhobrishti project is
therefore forms less than essentially aimed at providing Given the cost advantages and
40% of household income. affordable housing units for LIG premium amenities of
and MIG households with development, there is a greater
v For Upper MIG premium amenities like that of demand for such affordable
households (MIG-U), the large townships. Initially housing units. The application
size of three bedroom (during Phase I to III), it forms for the house allotment
house (or, 3 BRK) was provided LIG and MIG-L units get exhausted in li le or no time
fixed at 690 sqft floor area at Rs.3 lakh and Rs.6 lakh e.g., within few days after the
(carpet area), which also respectively. Subsequently, with release of notification inviting
conforms to the MIG the rising costs of construction, it applications from eligible
affordable housing began to offer the housing units households. Also, the response
definition as under 1000 sq in the price range of Rs.4.5 lakh from eligible households in
ft. The household income to Rs.9 lakh for 1 BRK and 2 BRK terms of application submission
ceiling/limit was set at Rs units in Phase IV of the project. is large and pours in. Therefore,
40,000 per month. The cost In the recent years, it offered 1 the allocation of housing units to
of MIG-U housing unit BRK and 3 BRK housing units at the eligible beneficiaries is done
was fixed at Rs.10,12,000, a price of Rs.6 lakh and Rs.15 through a lo ery system. The
which can be financed at a lakh for LIG and MIG-U sections enthusiasm for the project is
monthly instalment (or, under Phase VI of the project evident from more than 65,000
EMI) of Rs.10,100, (BSHDPL 2016). people a ending the lo ery
therefore forms less than conducted for 400 MIG flats in
40% of household income. The income eligibility of the Phase III of the project (Maxinfo
households has also kept rising 2014). In the subsequent phases,
In the subsequent phases of from the ceilings of Rs.1.8 lakh,
Shukhobrishti housing project Rs.3 lakh and Rs.4.8 lakh the number has reached to the
(especially, in Phase VI, which respectively for LIG, MIG-L and multiple of few lakhs of
consists of 1 BRK and 3 BRK MIG-U laid down initially to the applications for a sum-total of
units only), the household ceilings of Rs.3.6 lakh, Rs.6.0 few thousands of housing units.

88 HUDCO-HSMI Publication