Slum Rehabilitation Flats A Viable Option for Buyers With Low Budgets
For people in Mumbai with low budgets, buying a flat in a slum rehabilitation project can be a viable option. While many people are hesitant to buy flats from a slum rehabilitation project due to the fear of their quality and other reasons, one can do a good research and buy a good property from a rehabilitation project.
What does Slum Rehabilitation Development (SRD) scheme say?
According to the slum rehabilitation development scheme, a developer who takes up a redevelopment will be provided additional FSI (floor space index). The project developer must first provide free housing for the slum dwellers. The remaining FSI can be used to build additional flats and these flats can be sold in open market. The developer can build flats using the extra FSI either in the same apartment complex or at a different place far from the complex. There can be extra floors on the top of the building as well.
People hesitant to buy flats
People are usually hesitant to buy flats developed under the slum rehabilitation scheme. There are two main reasons for this. People believe that since the flats built under the scheme are on tight budget, the quality of the flats may not be up to the mark.
Many people also fear that the extra FSI the developer gets may be used to build flats in the same apartment complex or building as the flats for slum dwellers. They fear getting slum dwellers as their neighbours. Most people are uncomfortable having slum dwellers as their neighbours as they believe them to be a nuisance. House buyers believe that slum dwellers dirty their surroundings and create problems. Most people from the middle-class or upper middle-class prefer their housing to be far from that of the slum dwellers.
Developers take measures
Many developers who take up rehabilitation projects seem to have responded to this and taken suitable measures. They are creating clear demarcations between the rehab flats and free sale flats. There are different and more amenities being provided for flats that are sold in open market. They include solar lighting for streetlights and rainwater harvesting. A bigger layout is also usually provided for these flats.
Hope for buyers with low budget
Flats built under the rehabilitation scheme are low budget flats. However, this does not necessarily mean a low quality construction. There are a few reputed builders who take up these rehabilitation projects. They are also usually known for their construction standards. Scarcity of affordable housing in Mumbai has driven many prospective buyers to look for other options. With flats under the SRD scheme available on low budget and several reputed builders jumping onto the bandwagon, one just needs to examine the track record of the builder and the facilities before buying a property.
