Oshiwara 1

  • Status: Complete
  • People Housed: 4,180
  • Country: India
  • City: Mumbai
  • Partner: SSNS
  • Year Approved: 2004
Total Invested
INR 31,328,199
Average Completion Cost
INR 295,455
Total Invested
$422,119
Average Completion Cost
$5,091
Delivery of Homes
Total Expected
Completed
Basic
836
836
Project Overview

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.

836
Homes Completed
836
Homes Occupied
836
Connected to Water and Sanitation

Client Data

Household Demographic Data
Household Size
5.00
Proportion Female
50.0
Proportion Children
20.0
Proportion Elderly
20.0
Housing Information
Description Type Number Expected Number Completed Completion Cost
(Local Currency)
Apartments Basic 836 836 295455

Project Finances

Displayed In

Investments — Reall to Affordable Housing Partners

Total Project Investments
INR 31,328,199
$ 422,119
Grants
INR 31,328,199
$ 422,119

Based on exchange rate on 30/06/2021

Funds Recouped from Third Parties
Funds Recouped from Third Parties
INR 402,988,042
$ 5,429,901

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Data last updated on 06/08/2021