Of the total housing shortage in the Country, a majority is in the Economically Weaker Sections (EWS), Lower-Income Group (LIG) and Middle Income Group (MIG) segments. There is large demand in these segments at the right quality and price points.
Janapriya Engineers Syndicate Ltd. (JESL), based in Hyderabad, has a track record spanning two decades in providing quality housing for the Lower and Middle income segments, during which it has developed over 19 mn sft of space. The company’s primary strategy involves focusing on suburban locations with huge market potential comprising of first-time home owners. Its projects are associated with good construction values, basic amenities and economic pricing. It has strong in-house execution, marketing capabilities and incorporates modern construction technology along with in-house production of inputs to reduce construction costs.
Kotak Realty Fund has invested with Janapriya in a 32-acre residential township project in Hyderabad. Hyderabad is witnessing significant employment growth due to influx of IT and other corporate groups, creating significant purchasing power for home ownership. However, there is a shortage of housing in the sub-Rs 3 million segment as few development companies are addressing the said segment. As a well recognized brand in the Hyderabad Residential market, Janapriya Engineers is an ideal partner for Kotak to participate in the relatively resilient segment of economically priced housing.
Building approvals and other necessary approvals for commencement of project have been received; and the project was launched in November 2009. Construction activity has commenced on the initial building and on site infrastructure.
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