Tall & Urban News

The first tower of Janani Apartments built by Bhavanam Foundation Kerala (BFK), a state government company under the labor and skills department at Ponjasserry in Perumbavoor, is now complete and would open for sale once the criteria for allocations are fixed and open calls are made.

The apartment has various amenities, including a clubhouse, gym, diesel generator back-up, parking facility and arrangements for efficient waste management. But the per-square-foot (per-square-meter) would be almost half the existing market rate in Kochi.

The complex would have a total of four towers when completed and each of the apartments would be two BHK structures that are 715 square feet (66.4 square meters) each and are likely to be priced around Rs 21 lakh (US$2.1 million) Low-income workers in the district who are not beneficiaries of other government housing schemes and satisfy stringent criteria would benefit from the project, officials said.

Tower 1, completed at a cost of Rs 16 crore, (US$218,694) has 74 units. Once completed, the complex, sprawling 256,000 square feet (23,783 square meters) would have 296 apartments. The project is estimated to cost Rs 64 crore (US$874,777).
 
As per the conditions fixed by the BFK board, the age of beneficiaries should be less than 58 years and they or their spouses should not own houses in their names or that of dependent children. They should not have availed benefits under any of the housing schemes by the state and central agencies or local bodies.

During the allotment process, preference would be given to applicants who are members of state/central welfare fund boards and families with annual income that is equal to or less than Rs 3 lakh (US$4,100). Applicants, who are residents of the district where the scheme is implemented, would also have preference.

For more on this story, go to Times of India.