SSNS’s Oshiwara project saw the construction of five apartment blocks which house over 800 families. This project represented a precedent-setting initiative for SSNS, as it established a standard for low income housing where the quality is high and the communities are involved in the construction of homes.
A Reall grant helped to finance construction, which enabled SSNS to apply for Transferable Development Rights (TDR) certificates for the project. TDR is an Indian governmental scheme that enables developers to get valuable development rights from building slum-replacement housing. TDR rights allowed SSNS to densify sites, either through adding additional buildings or additional floors. To date, SSNS has received over INR 400m (USD 5.5m) in TDR payments from this project. Proving how this model is an effective method of providing affordable homes has resulted in this approach being adopted by other developers in the sector.
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Based on exchange rate on 30/06/2021
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Data last updated on 06/08/2021