The Maharashtra Housing and Area Development Authority (MHADA) has teamed up with Chadha Developers & Promoters (CDP) to launch the second phase of their public-private partnership project – “Chadha Residency” in Karav village, Vangani West, Near Badlapur. The project, worth Rs 200 crore investment, covers 80 acres and has 133 towers.
The second phase of the project includes 1114 1BHK flats available in a lottery for Rs 11,99,000. In addition, there is a scheme under the Pradhan Mantri Awaas Yojna (PMAY) benefitting the Labour Scheme (Kamgar Yojna), priced at Rs 9,99,000. The lottery has already begun and will close on April 28, 2023. The realtor has promised possession of the flats in 2024-25.
The first phase of the project was launched in 2021 and had a successful sale of 3000 flats. The second phase is expected to generate equal or better response, given the attractive prices and location.
Talking to Realty+, Dimple Chadha, Managing Director of Chadha Residency, said, “Developers should be more concerned about developing homes for economically weaker section of the society. We are proud to be part of the PMAY scheme and contribute to the government's vision of ‘Housing for All’ by 2024-25. The success of the first phase has given us the confidence to continue our partnership and provide affordable housing to the people of Maharashtra. As a company we endeavor in giving them their rightfully deserved homes at the earliest. Chadha Residency has a singular focus of developing homes for EWS as well as ensuring their homing buying process is easy and uncomplicated.”
