Mumbai : Suraksha Smart City, an expansive 362-acre township in Vasai (E), has marked a significant milestone by securing 6,500 bookings under the Pradhan Mantri Awas Yojana (PMAY) in just three months, from March to May 2024. Suraksha Smart City expects to add a topline of Rs 1,450 crore from the record bookings.
The surge in PMAY bookings following the government’s decision to revise the eligibility bracket for the EWS now enables the inclusion of individuals with an annual household income of up to Rs 6 lakh in MMR. The policy shift has broadened access to homeownership, enabling a larger pool of buyers to secure bank loans for the 1BHK units, each priced at around Rs 22.50 lakh. This influx of buyers has been instrumental in driving the strong financial performance of Suraksha Smart City. A direct government subsidy of Rs 2.50 lakh and stamp duty of only Rs 1000 can be further availed under PMAY.
To meet the overwhelming response and ensure timely delivery, Suraksha Smart City has committed to leveraging advanced construction techniques, including precast technology with 3D casting. This not only accelerates construction timelines but also enhances build quality and streamlines labour management. The adoption of precast technology, in particular, has proven to be a game-changer, allowing the company to deliver high-quality homes while maintaining stringent timelines and cost efficiency.
Jash Panchamia, Management at Suraksha Group, expressed his enthusiasm for the project’s success saying, “The response we’ve received for Suraksha Smart City under PMAY is truly heartening. Our commitment to providing quality housing is unwavering, and the overwhelming interest from homebuyers reaffirms our belief in the importance of this mission. Our development is strategically located within walking distance of the station and offers township living alongside amenities such as a Forest Themed Garden, Multipurpose Turf, Yoga and Meditation Space, and an Outdoor Gym, all at an entry-level price of Rs. 22.50 lacs, we are dedicated to ensuring that every home is delivered on time and to the highest standards, maintaining the trust and confidence our buyers have placed in us.”
