`Nano` flats on offer at satellite townships

January 12, 2009 By Lodha Web

Mumbai: Call it the “Nano Effect”. Builders in Thane and Navi Mumbai have started offering
small flats designed for lower- and middle-income groups. Appropriately, they call these
proper¬ties “Nano flats”.

Describing it as a successful model, they claim to have registered decent bookings. According to
Ashish Ram-rakhiya of Thane-based Ram Estate Consultants, builders have realised that there is
tremendous demand for such a novel concept, which involves one- and two-bedroom flats
measuring a compact 350 sq ft. “And to match this concept, Nano is the ideal name,” he adds.
Suresh Haware of Haware Devel¬opers, who recently launched schemes in Thane and Navi
Mumbai with 3,550 “Nano” flats, said, “Most of the flats here are budgeted up to Rs 20 lakh,
while the one with the lowest price will cost Rs 8.25 lakh. As such affordable flats are in demand
these days, we have seen more than 80% bookings within a short span.”

Lodha Builders, which usually makes flats for high-income groups, has intro¬duced the Nano
concept as well. It has low-budget flats coming up on a 55-acre plot in Thane. The scheme, Casa
Univis, will feature 2,000 flats ranging from 1-BHK to 3-BHK in 26 towers. While the average
price of the small flats start from Rs 16 lakh, the Nano con¬cept of marketing has ensured that
the bookings touch the 500-mark with near¬ly 3,000 people visiting the site so far. “Despite the
economic slowdown,our project has got an overwhelming re¬sponse from aspiring buyers. The
con¬cept is working,” said Amol Thorve, pub¬lic relations representative of Lodha.
Pravin Banvilkar of Tanaji Malusare City—a project involving 15,000 flats at Karjat measuring
160 sq ft, 225 sq ft, 325 sq ft and 400 sq ft—prefers to call it soci¬al housing. “Nearly 6,000 flats
will be for the MMRDA`s rental housing scheme while the remaining 9,000 will be for our
customers,” said Banvilkar. The prices range from Rs 2 lakh to Rs 7 lakh