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CASE STUDY
Home Finance amenities provided in the mega cities like the Mumbai
housing township. The project Metropolitan Region (MMR), the
Home financing is done by the
major housing finance also received several National Capital Region (NCR),
companies like HDFC, SBI honors/awards for the Chennai, Hyderabad,
Home Finance, LIC Housing innovative housing product and Ahmedabad, Bengaluru and
Finance etc. In order to cater to professional output e.g., India Pune. These are some of the
the needs of poor people who Realty (2014). It also received major urban centres in India that
have no access to commercial investment support from the need an affordable housing
banks, the Micro Housing International Finance push. This can be extended to
Finance Company (MHFC), Corporation (IFC) for its some tier two cities like Vizag
Kolkata also began to provide innovative model (Livemint and Mysore, where there is a
financial assistance/loan to the 2015). The Government of West presence of service industries.
eligible households in the LIG Bengal considers this as a 'jewel However, some other local,
segment. The purpose of the of crown' project to a ract economic and public preference
loan should be for the purchase private investments. constraints have to be
of residential house in the Unique Selling Proposition considered as well.
project for self-use. The MHFC, The unique feature of this model Shukhobrishti project provides
Kolkata gives home loan upto a is that it is able to provide good quality affordable housing for
maximum of Rs.10 lakh with a quality of construction at the urban poor and middle class.
maximum tenure of 15 years and affordable Price. Besides, various The provision of housing units
the annual interest rate varying amenities like swimming pools, at almost half the market price is
between 12% and 14%. not possible unless the subsidy
fitness clubs, entertainment
Project Marketing centre etc., are provided. The is used from creation of high
houses are unique and well- income generating businesses,
The SPCL has kept the consumer which is possible only because of
in mind and marketed in tag line designed, which is a source of development of satellite city
“blend of modernism and true pride for owners. The housing near to Kolkata, which is not
essence of Bengal”. It reaches complex resembles a gated always feasible in other parts of
out the potential customers community with security guards the country. Replication of this
through its own website and in uniform and closed circuit kind of project in all Tier 2 and
newspapers. The Bengal cameras for monitoring. It has Tier 3 cities is difficult as
Shapoorji Housing Development 37,162 square meters of development in a State is mostly
Pvt. Ltd had set up a call centre shopping complexes of retail around one or two major cities
for this purpose. The project also market, malls and post (Lele et al 2015).However this
has been responding to the offices.The residents can also can be extended to township
demand by changing the work in the central part of projects in cities which have
composition of units. Initially Kolkata; they use the public some local economy. Even
the project had 1BHK and 2 BHK transportation (bus) which though the project caters to the
housing units, but after reduces the cost of commute. needs of LIG, many are left
considering the aspirations of This provides a good eco system behind which questions us if this
the middle class they began to all together for the township. model would be sufficient to
offer 3BHK housing units of 690 SUKHOBRISHTI AS AN address the demand of housing
square feet size but within the AFFORDABLE HOUSING from LIG. Provision of 3BHK
limits of affordability. It also MODEL units of 690sqft may not be
gives the complete details of the Shukhobrishti kind of housing suitable for all locations, the
community infrastructure and
projects can be taken up in all lifestyle and consumer taste
April 2021 Volume 22 No. 1- SHELTER 89
