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After Low-cost Homes, City Gets Affordable Club

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After low-cost homes, city gets affordable club

Ahmedabad: The Bakeri Group has planned to construct an affordable club in the vicinity of Vejalpur, targeting middle-income families. The club will be spread over an area of close to 24,000 sq yd and will have facilities similar to Karnavati and Rajpath Club.

 

"Though the proposed club will be similar to the clubs existing in the city, its unique selling point will be its primary target, the middle- and upper middle-income groups," said Pavan Bakeri, managing director, Bakeri Group.

He said there were many clubs in the city that the middle-income group had been unable to access on account of their high membership fees, which was the reason for the Bakeri Group coming up with the idea for their club.

Regarding the membership fees the new club will charge, Bakeri said, "We haven't finalised anything as it is too premature. However, it may be between Rs1 lakh and Rs1.5 lakh, with the annual fees for club maintenance being around Rs1,500."

An interesting aspect of the club will be that anyone will be able to apply for membership. Residents of the Bakeri Group's Vejalpur township will receive special concessions on the membership fees.

The Ahmedabad-based group, which celebrated its golden jubilee this month, has constructed 4,000 residential units till date and is planning to build around 800 one-, two- and three-BHK homes every year.

The Bakeri Group is looking to construct around 8,000 units over the next nine years, on 50 acres in Vejalpur, for which it will invest around Rs1,000 crore over eight years.
When asked if there was demand for affordable housing schemes, Bakeri said that a study revealed that there will be demand for six to seven mn sq ft in the residential segment every year, according to conservative estimates, and affordable housing formed the largest part.

The group's recent announcement of 350 one- and two-BHK affordable apartments has seen around 70 per cent booking. The Bakeri Group also recently launched Sakshat, a 300-unit scheme of one-BHK studio apartments in Vejalpur; the cost of these varies from Rs7.59 lakh to Rs8.3 lakh.

Commenting on the affordable homes, he said they were the only group to provide affordable luxurious homes as they did not compromise on quality and interiors. "The calculation of the super built-up area is much more transparent," Bakeri said.

Source:DNA India

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