Felicity Adobe Launches SwarnaGriha I -Homes for All in Tumkur

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Demonstrates one prefabricated home in just 1 hour!

Tumkur, August 11, 2018: Felicity Adobe has launched SwarnaGriha I-‘Homes for All’, the first in the series of affordable housing projects, in Annenahalli, Tumkur that offers the best affordable lifestyle requirements to the EWS and LIG category. Thus, it shares Prime Minister’s dream to provide housing for all by 2022 under Prime Minister Awas Yojana (PMAY)-a government scheme.

Speaking on the launch, Mr. PreenandPremachandran, Founder and CEO, Felicity Adobe, said, “A good shelter is a birth right of every citizen in our country. Our objective is to contribute to the aspirations of people who cannot afford an appropriate living owing to their low earning capacity. Thus; we started SwarnaGriha, a well thought of and well-planned affordable project series that promise to offer best amenities at the lowest price.” 

SwarnaGriha I is the first such project that has given a holistic approach to affordability by giving a lot of easy options to buyers. There are no pre EMIs to be paid, only minimum 10% initial advance needs to be paid and there is no payment till the possession. Also the buyer can avail upto 90% as loan amount. Due to credit linked subsidy scheme, the buyer can pay an EMI as low as Rs. 2,500, adds Preenand.

SwarnaGriha I is Tumkur Urban Development Authority (TUDA) approved and houses 268 units of 1 BHK on four floors. It offers buyers well designed homes with best amenities including car parking, children’s play area and passenger lifts for every two blocks.

Mr. K G Basavalingappa, Retd. Principal, Rotary Assistant Governor & Secretary TOS, Tumkur, said “Buying a house is a dream for every individual. If high quality residential projects like SwarnaGriha have come up at an affordable cost, it is a sign that nation is progressing.”

Prefabricated construction

Prefabricated construction technology sets this affordable housing project apart wherein two houses are built in a day. Felicity Adobe demonstrated the construction by installing precast walls/blocks and raised into a house in a span of one hour!

Prefabricated technology was used in order to provide quality construction at an affordable price in a short timeline. With this, the turnover time has been reduced to 50% against the conventional constructional methodologies.

Mr. Pranav Sharma, Founder and Director, Felicity Adobe said, “The world is embracing new technology to improve the quality, durability and aesthetic designs in shorter time duration. We identified prefabricated technology as it can save time and yet give precision and quality. It helped us to maintain standardization in all the units.”

Dr. T V Mallesh, HOD-Civil Engineering, SSIT, said, “Prefabricated technology can make a huge difference in workmanship and maintenance of uniformed strength in all the houses. Construction time is drastically reduced thereby meeting the deadline of the project launch.”

SwarnaGriha is being constructed using the most modern technology available yet proving that affordable cost does not mean low cost. Mr. Suneeth Kumar, Director, Sycon Infra Pvt. Ltd., said, “SwarnaGriha-I stands for the famous saying ‘Home is where the heart is’. It was conceptualized to provide a home that is affordable but at the same time durable.”


Loan Availability

Without banking support from ICICI Bank, SwarnaGriha would have remained just a dream. The team from ICICI Bank was moved by the social cause Felicity Adobe held. “Initially, we were hesitant for sanctioning the loan to the low income category of buyers. But we were impressed by the noble idea, commitment, execution and planning of SwarnaGriha’s team had. We agreed to be a part of the project and we are committed to be a part of providing housing for all,” said Mr. Deepak Shetty, Regional Head-Sales, ICICI Bank.

Mr. Sreenivas .J, a labour of automobile company happily shared his home buying experience at SwarnaGrih. He said, “I always believed that owning a house is a farfetched dream. It is a scenario where people like us can’t even think of buying a plot, but with the help of SwarnaGriha team, we bought a neatly built house. I’m deeply grateful to SwarnaGriha for making all the processes very smooth.”

Eligibility under PMAY

SwarnaGriha I is located in the industrial hub, Annenahalli, Tumkur. The site is in close proximity to various civic utilities. Due to industrial estates around the location, Annenahalli is well connected to several industries across Tumkur.

A thorough research on the demography showed that the vicinity is populated with around 30,000 employees working across various industry segments. This populace falls under government proposed categories eligible for PMAY scheme that includes EWS (Economically Weaker Section) with an income less than Rs. 3 Lakh, Light Income Group (LIG) with an annual household income ranging between Rs. 3 Lakh to Rs. 6 Lakh, Medium Income Group (MIG1) who earned less than Rs. 12 Lakh and Medium Income Group (MIG2) whose income is between Rs. 12 Lakh to Rs. 18 Lakh.  Felicity Adobe meticulously planned the project in a way to provide housing needs for all the home buyers in these categories.

For buyers buying a home in SwarnaGriha I, the four criteria mentioned under PMAY scheme are mandatory such as beneficiary’s maximum age to be 70 years, annual income less than Rs. 3 Lakh (for EWS), Rs. 3 Lakh to Rs. 6 lakh for (LIG) since Feb 2017, beneficiary should not have an own dwelling unit on the name of any family member in any part of India and an adult female membership is mandatory in the property ownership. If these criteria are met, the buyer can avail a subsidy of upto Rs. 2.67 lakh.

Next series of SwarnaGriha

With the success of SwarnaGriha-I, Felicity Adobe is ruminating over building SwarnaGriha-II in Vasanthanarasipura in Tumkur. K N Shiva Kumar, President, Vasanthanarasapura Industries Association & Council Member of KASSIA, said, “We welcome the initiative of Felicity Adobe to build affordable houses in Vasanathanarasapura, which is the biggest industrial area in the country with 10,000 acres of land allocated to industries. We are happy that the housing needs of this region will be met by SwarnaGriha.”

Corporate Comm India(CCI Newswire)