20th April, 2023 Mumbai: The Maharashtra Housing and Area Development Authority (MHADA) has teamed up with Chadha Developers & Promoters (CDP) to launch the second phase of their public-private partnership project – “Chadha Residency” in Karav village, Vangani West, Near Badlapur. The project, worth Rs 200 crore investment, covers 80 acres and has 133 towers.
The second phase of the project includes 1114 1BHK flats available in a lottery for Rs 11,99,000. In addition, there is a scheme under the Pradhan Mantri Awaas Yojna (PMAY) benefitting the Labour Scheme (Kamgar Yojna), priced at Rs 9,99,000. The lottery has already begun and will close on April 28, 2023. The realtor has promised possession of the flats in 2024-25.
The first phase of the project was launched in 2021 and had a successful sale of 3000 flats. The second phase is expected to generate equal or better response, given the attractive prices and location.
Commenting on the announcement, Dimple Chadha, Managing Director of Chadha Residency, said: “We are pleased to announce the launch of the second phase of Chadha Residency, in association with MHADA. The success of the first phase has given us the confidence to continue our partnership and provide affordable housing to the people of Maharashtra. We are proud to be part of the PMAY scheme and contribute to the government's vision of ‘Housing for All’ by 2024-25.”
About Chadha Developers & Promoters (CDP)
Chadha Developers & Promoters (CDP) is a real estate development company based in Mumbai. The company is known for its quality construction, timely delivery, and innovative design. CDP has successfully completed several residential and commercial projects in Maharashtra and is committed to providing affordable housing solutions to the people of India.