Janaadhar Pvt.Ltd to work on the aim of Housing for All vision of providing affordable homes in Karnataka

janaadhar-pvt-ltd-to-work-on-the-aim-of-housing-for-all-vision-of-providing-affordable-homes-in-karnataka

Since this January, Prime Minister Narendra Modi introduced lighthouse projects and Global housing Technology Challenge Initiative-India to put thrust on speedy construction of affordable houses in order to achieve housing for all under PMAY scheme.Bengaluru based Janaadhar Pvt. Ltd has partnered with Reall budget housing projects in India so as to build 11 million affordable houses. This will help in unlocking the demand of 50 million people in need of affordable homes. Janaadhar aims to build houses with precast technology that allows for lower cost and higher quality construction of affordable homes. Janaadhar has so far successfully delivered 1500 homes in Gujarat and Karnataka.

This will be Reall’s first partnership with an affordable housing developer in India. Reall, which is funded by UK’s Department for International Development (DFID) and the Swedish International Development Agency (SIDA), has been at the forefront of affordable housing for over 30 years, impacting over 3.5 million people across Africa and Asia. The company wants to build a better world through unlocking the potential for affordable homes by portfolio management, technical expertise in affordable infrastructure, policy and advocacy and finally making the ideas adaptive and adoptive.Unitus Capital was the exclusive financial advisor for enabling this partnership.

 “Patient capital is fundamental to EWS/LIG housing development by private players. We are really excited by the catalytic role Reall’s partnership will play in delivering homes for the EWS/LIG segments while also crowding in other sources of capital. Reall’s deep expertise in affordable housing will allow us to access innovative solutions through their vast networks globally. We are very excited by this partnership and the impact we can have on low-income communities together.” said Ragunath Srinivasan, executive director, Janaadhar.

Currently Janaadhar Pvt.Ltd is working towards developing 2000 affordable houses in Karnataka, Gujarat, Rajasthan, and Maharashtra.

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