Pradhan Mantri Awas Yojana- Credit Linked Subsidy Scheme: Explained

1. Pradhan Mantri Awas Yojana (PMAY) caters to urban centres and was launched in the year 2015 with an aim of providing ‘Housing for All by year 2022’.

2. In 2017, the scope of the PMAY was broadened by the introduction of the Credit Linked Subsidy Scheme (CLSS) . Under the scheme the Government of India is offering interest subsidy on home loans taken by eligible citizens for buying or constructing a house. Furthermore,the scheme brings down the outstanding loan amount right at the time of loan origination.

3. It is for the first time under the scheme that any national government has recognized the Middle Income Category (MIG) as the ones needing some sort of financial support in their quest for a home.

4. The Credit Linked Interest Subsidy Scheme (CLSS) for Middle Income Group widens the scope of people who qualify as beneficiaries. People earning above Rs 6.00 lakh and up to Rs 18 lakh per annum are eligible for interest subsidy on housing loans.

5. The following percentage of interest subsidy is available if the criterion are met:

– 4% on housing loans of up to Rs 9 lakh of those with an income of INR 6 to 12 lakh a year (MIG 1 Category)

– 3% on housing loans of up to Rs 12 lakh of those earning INR 12 to 18 lakh per annum (MIG 2 Category)

6. Irrespective of one’s amount of loan, as long as the unit sizes comply with the norms laid down, the beneficiaries will avail the interest subsidy under the CLSS up to the limits described above. The norms for the unit sizes are: 90 sq. m. for MIG1and 110 sq. m. for MIG 2. These are carpet area of the unit that is being purchased.

7. The interest subsidies will bring down the Equated Monthly Installments (EMI) of beneficiaries by a certain amount per month. The government will provide direct transfer of these savings over the life of the loan as a one-time benefit at the time of loan origination. Assuming the normal housing loan rate to be fixed at 8.65% on a 20 year loan, the potential savings are:

-Rs 2.35 lakh on a loan of Rs 9.00 lakh in the MIG 1 category

-Rs 2.30 lakh on a loan of Rs 12.00 lakh in the MIG 2 category

8. The home loan that one avails to qualify under the scheme will be for tenure of 20 years or lower.

9. The criteria to qualify under the PMAY CLSS scheme are: a) one should be a first time home buyer; b) the income should be as per the aforementioned limit and c) the dwelling sizes should comply with the norms.

10. The interest subsidy is applicable only to the amount limit mentioned in the scheme. If the loan amount is more, interest on the remaining amount is applicable as per contract.

 

Rohan Abhilasha under constructionRohan Abhilasha under construction

Rohan Abhilasha under construction
Rohan Abhilasha under construction- these homes qualify under PMAY

Rohan Abhilasha under constructionRohan Abhilasha under construction

Rohan Abhilasha under construction
Rohan Abhilasha under construction- these homes qualify under PMAY

 

 

 

Rohan Madhuban : Diligently Designed Homes at Bavdhan

The layout of Rohan Madhuban Phase II is designed to seamlessly fit in its context. The existing contours of the land are preserved by using the site topography to plan elevated pedestrian pathways. Each home opens out to splendid views of the surrounding hills.

Rohan Madhuban II offers two apartment types – the 2BHK and the 3BHK. Both types are designed with a keen attention to detail, ensuring that each home provides nothing but the best in terms of space and quality.

The trademark Rohan PLUS concept is the core element of every Rohan home. Homes in Rohan Madhuban Phase II are designed with a special focus on these key elements, ensuring that every home is a perfect mix of all the important factors.

As with every Rohan project, Madhuban II has a host of amenities to cater to the various needs of its residents. In order to promote the idea of community living, there are a variety of activity spaces and communal gardens which residents can use for rejuvenation. In addition to a pool, gymnasium, badminton court and play areas for children, an indoor community center with a variety of indoor games is also part of the package.

With their well designed homes with a wide range of amenities, Rohan Madhuban II promises to offer its residents a capacious, well-designed slice of space to call their own.

Rohan Akriti : Diligently Designed Homes at Kanakapura Road

Rohan Akriti Project

rohan akriti, Kanakapura Road

rohan akriti, Kanakapura Road

Location & Connectivity:

Rohan Akriti Project is located in the upcoming suburb of Kanakapura Road, Rohan Akriti is an excellent investment option for those looking to invest in property in this area of Bangalore. Excellent connectivity to the NICE Ring Road and the ORR provides swift access to the various IT hubs of the city. Furthermore, the proximity of educational institutions (PES University, RV School of Architecture, Presidency School), hospitals (KS hospital) and other upcoming facilities is an added advantage.

Rohan Akriti: Design & Planning

With a linear layout, the carefully designed master-plan provides for a large corridor of space in between the two rows of towers. All recreational amenities are placed in this strip, providing equal access to residents and encouraging community interaction.

rohan akriti, Kanakapura Road

rohan akriti, Kanakapura Road

According to the designers of Rohan Akriti, the key thought of the project was to revive the lost concept of community living in the current urban scenario. It was ensured that this concept was incorporated into every stage of the design process, from the exteriors to the interiors of the homes. The idea is to create a vibrant neighborhood which encourages its residents to come together to celebrate life.

At Rohan Akriti homes, every inch of space has been given a lot of thought. As with all Rohan projects, the underlying design concept is the PLUS home concept (Perfect ventilation, Lively light, Utmost Privacy and Smart Space)

Extra walls have been eliminated and spaces have been combined in order to create a sense of openness, even in the most compact homes. The interior layout of rooms has been rohan akriti, Kanakapura Roadrohan akriti, Kanakapura Roadcarefully planned to cater to flexible furniture placement, thus ensuring that not a square inch of space is wasted. Private and public areas of the home are segregated to provide ample privacy. The open free-flowing layout of the homes and a complementing interior color scheme make for a harmonious visual experience. In addition to creating an interesting facade, the double height balconies create a channel of wind flow between the buildings. This carefully designed feature aims to create a Venturi effect, facilitating the circulation of fresh air between blocks.

The simple concept of Rohan Akriti Project is ensuring that the distance between two blocks is equivalent to their heights ensures that even the lowest floors receive ample light and ventilation. This guarantees lively light and perfect ventilation to all homes.

rohan akriti, Kanakapura Roadrohan akriti, Kanakapura Road

Amenities in Rohan Akriti Project

At Rohan Akriti, every home is designed to maximize space and minimize unnecessary features such as extra walls and narrow passages within homes. Eliminating extra walls provides each home with a spacious central area, and each bedroom is designed so as to utilize every square inch of space in the most effective way. The amenities at Rohan Akriti are divided into three zones – Relax, Refresh and Rejoice. This reiterates the concept of communal spaces within a neighborhood, with three distinct zones catering to a wide variety of users – children, adults and senior citizens.  The relax garden houses the yoga center, meditation spaces and lawns. The refresh garden is the rejuvenation center, with the pool and clubhouse (which offers sporting amenities such as indoor badminton, squash and gym). Lastly, the rejoice garden has lively activity spaces such as the children’s play areas, tennis court and chess garden.

Prices & Unit Sizes for Rohan Akriti Project

Rohan Akriti offers a range of homes to choose from, with a budget range of 29.6 Lacs – 69.1 Lacs, due for handover in June 2020 as part of the first phase. The configurations on offer are the 1BHK (544 – 817 SFT) 1.5 BHK (654 – 659 SFT) 2BHK Compact (920 – 983 SFT) 2BHK Regular (1073 – 1291 SFT)  2.5 BHK (1234 – 1242 SFT) and the 3BHK (1406 – 1533 SFT). With a wide range of homes catering to every need, Rohan Akriti promises to be an attractive investment option for home-hunters in Bangalore.

Rohan Akriti, Kanakapura Road – Features Of The Newly Launched Project

Rohan Akriti is Rohan Builder’s first project in South Bangalore, offering premium luxury residential homes.  The project is based on the concept of PLUS homes, which stands for PERFECT Ventilation, LIVELY Light, UTMOST Privacy and SMART Space.

Rohan Akriti is located within Kanakapura Road’s green spaces and focuses primarily on smart design that ensures adequate use of space so as to maintain large spaces even while offering all required provisions that tick all the boxes of a PLUS home.

Rohan Akriti – Location and Connectivity  

Rohan Akriti has managed to bag a location that’s just about far enough from traffic- off Kanakapura Road– and yet close enough to Kanakapura Road’s sprawling social infrastructure within the range of the Turahalli Forest.

Kanakapura also a good connectivity keeping in mind the major metro projects in the area as a part of Namma Metro Phase II and the planned Bannerghatta Road project.  Besides this, the NICE expressway and BMTC bus services keep connectivity easy and constant towards all parts of Bangalore.

Kempegowda International Airport is an hour and 50 minutes away, while the Central Railway Station is an hour away.

Convenience stores are a walk away while malls like Royal Meenakshi and Gopalan Innovation take less than 20 minutes to reach. Restaurants are also available at regular distances and healthcare is dominated by specialty hospitals like Fortis, Apollo and Jayadeva Hospital.

Popular educational institutions in the area include the Valley School, Kumarans School and Delhi Public School . Higher institutions and preschools are also in close proximity.

Perhaps the most exciting part of Kanakapura Road is the fact that ISKCON is also set to launch an Indian version of Disneyland on a 28 acre hillock expected to increase tourist attention to the area.

Rohan Akriti- Design, Planning, Specifications

A Look At The Living Room Space At Rohan Akriti
Living Room Space- Rohan Akriti

Akriti is based upon 5 acres of landscaped area and offers 440 homes. These homes are spread across 6 towers, each with 2 basements and G+13 floors.

Akriti’s design ensures adequate use of space so as to preserve the natural contours and green spaces of the location.

The first thing that attracted us to the design is the fact that every block has a 1:1 ratio of height to distance between building blocks. The shadow of one home doesn’t fall on the other.  The unique façade breaks all points of monotony with the niche, the top floor elevation projection and the double height terraces.

The second interesting aspect of Akriti is that it’s accessible from all four ends-from Outer Ring Road, Vasanthpura main road, NICE ring road and Bangalore-Mysore Expressway.

The third interesting aspect of the project is how the project uses the area’s natural contour so as to let sunlight into the project.

The fourth interesting aspect is the double-height terraces which create a venturi effect and offer good wind-flow while large wardrobe recesses keep bedroom areas clear and open to personalization.

Akriti offers a range of homes, namely 1,1.5,2,2.5 and 3 BHK premium apartments and the project is currently in its pre-launch phase. Possession for Akriti is expected to commence by December 2019 over 2 phases.

You could also take a look at Rohan’s other venture in Bangalore, Rohan Avriti.

Rohan Akriti – Amenities 

Akriti’s building blocks have a linear layout and that’s enabled the amenities to be spread across three green spaces-namely the Relax, Refresh and Rejoice Gardens.

The Relax Garden has a yoga room, meditation gardens and open lawns.

The Refresh Garden offers a swimming pool along with the 17,000 sq ft clubhouse- all inclusive of a gym, multipurpose hall, guest rooms, crèche, badminton court, squash court.

The Rejoice Garden houses the children’s play area, chess, the main garden and the tennis court. The project also offers a party hall, cricket practice pitch, a health centre and landscaped gardens.

Rohan Akriti – Prices & Unit Sizes | Are You An Ideal Resident?

Akriti offers premium homes at a competitive rate and considering the location, the connectivity and proximity to South Bangalore and North Bangalore, Akriti is ideal for someone who is working and on a tight budget. Akriti is also a good investment option, considering Kanakapura Road’s growing development prospects.

Options at Rohan Akriti include 1BHK (544 – 817 SQ.FT) going from Rs. 29.68 Lacs; 1.5 BHK (654 – 659 SQ.FT) from Rs. 34.22 Lacs;  a 2 BHK COMPACT (920 – 983 SQ.FT) from Rs. 46.52 Lacs; 2 BHK REGULAR (1073 – 1291 SQ.FT) from Rs. 54.82 Lacs; 2.5 BHK (1234 – 1242 SQ.FT) from Rs. 63.75 Lacs and a 3 BHK (1406 – 1533 SQ.FT) from Rs 69.19 lahs.

Rohan Avriti at East Bangalore – “Surprisingly Private Property”

East Bangalore – the bustling IT hub of Bangalore city – is witnessing rapid development in the real estate sector. With a growing demand for residences in this part of Bangalore, it is no surprise that there are a plethora of options available for prospective clients to choose from, each with its own set of USPs and advantages. Rohan Builders have added to this growing range of residential investment options with their project Rohan Avriti.

Availability & Construction Status

Launched in August 2012 and completed in January 2016, this project currently has 3BHK and 4BHK duplex units available for sale (with a majority of the remaining ready-to-move-in flats having been sold out). We decided to make a trip down to the project site and do a graphic feature on the project as part of our East Bangalore survey.

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4 acre site

The 4 Acre landscaped site with interesting pavilions and interaction spaces offers beautiful views to residents. The current cost per square foot is INR 5800 per SFT. The 5 towers have a total of 221 units ranging from 1207 SFT – 3237 SFT.

Location & Connectivity

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Located conveniently on the Whitefield main road, Rohan Avriti enjoys easy connectivity to some of the top lifestyle destinations of Bangalore – the Phoenix Marketcity Mall and VR Bengaluru Mall, in addition to the Decathlon Sports Megastore. The property is easily accessible via the Whitefield main road, it took us 20 minutes to drive there from Indiranagar.

PLUS Concept

The two duplex unit typologies available are 3BHK and 4BHK duplex. Both types are beautifully designed and spacious, with large double-height balconies overlooking the landscaped courts below. The design of the units is based on Rohan Builders’ PLUS Concept – the integration of the four key elements of Proper ventilation, Light, Utmost privacy and Smart space utilization.

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The PLUS design concept is illustrated below:

Proper Ventilation | Lively Light | Utmost Privacy | Smart Space Utilization

The PLUS Concept at Rohan Avriti Homes
The PLUS Concept at Rohan Avriti Homes

Amenities at Rohan Akriti

In addition to having ample amounts of privacy, residents at Rohan Avriti also have access to a range of amenities such as a swimming pool, club house, gym, 24×7 security and power backup, to name a few. The beautifully landscaped spaces offer relaxing spaces to play and socialize for children and adults alike. One of the key advantages of this project is the central location in proximity to lifestyle destinations in both Whitefield as well as the city center (MG Road, Indiranagar etc) , educational institutes and workplaces. This mix of good design and connectivity makes homes at Rohan Avriti a good option for prospective home-buyers looking to invest in property at East Bangalore.

Read more about Rohan Builders on PropStorys

Read from developer’s website

Rohan Iksha – Design Features Explained

Disclaimer: All images are for representational purposes and are an artist’s impression. Master-plan and Apartment Layout images courtesy the official website of Rohan developers.

Rohan Iksha is an upcoming project located along the ORR at Bhoganahalli (near Marathahalli) in Bangalore. At Iksha, special attention is paid to the design of living spaces. Rohan Builders are known for their PLUS Concept of designing homes: With an emphasis on ventilation, lighting, privacy and optimization of space, these homes offer clients with a wide range of options to choose from, based on an assortment of needs and requirements.

The PLUS Concept at Rohan Iksha

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(A) PROPER VENTILATION

Apartments at Rohan Iksha are designed with numerous windows and open spaces (read more about the project), allowing for adequate cross-ventilation. A well-ventilated home is essential to maintain hygiene and good health, providing a fresh and pleasant living environment.

(B) LIVELY LIGHT

Wall-to2-wall windows in each apartment ensure adequate lighting and ventilation in the apartments. Windows and openings which permit light to filter through the home are an absolute necessity in any design. The feeling of a lively home is achieved by ensuring that enough light is permitted to enter the space at any given time of the day.

3-dimensional schematic model of an apartment demonstrating the wall-to-wall windows, lighting and balconies
3-dimensional schematic model of an apartment illustrating the wall-to-wall windows, lighting and balconies

(C) UTMOST PRIVACY3

Privacy – a much sought after element in today’s day and age of instant connectivity. A home is a space where one seeks refuge from the hustle and bustle of the outside world- so it is only natural that this aspect is taken into account when it comes to designing a home.  At Rohan Iksha, privacy is ensured through the use of walls around the balconies, offering each apartment a private recessed balcony. The openness of the apartment design provides residents with views of the landscaping around the towers, while offering them their own personal niche at the same time.

4(D) SMART SPACE UTILIZATION

Homes at Rohan Iksha do not have unnecessary passages and internal walls, thereby creating a sense of openness, and one can view the entire apartment at a glance from the entrance. In addition, the apartment not only looks larger, but also has more utilizable space for the provided carpet area.

The 8.5 Acre Rohan Iksha campus is designed with special attention to views and open spaces. This is evident from the use of the concept of colonnades and raised building heights to offer unrestricted views from one end of the site to the other. The double and triple height colonnades create a sense of dynamism in the entire design, offering residents beautiful views of the landscape and a pleasant sense of open spaces.

Colonnaded spaces - view of the pool and clubhouse from the entrance
Colonnaded spaces – view of the pool and clubhouse from the entrance

Furthermore, each block is designed with a combination of apartment typologies. This creates an interesting variation in the blocks, with an interplay of projecting balconies, private terraces and windows.

The apartment types on offer are:

  • 2BHK (2 types)
  • 3BHK (2 types)
  • 4BHK
  • Studio (2 types)
rohan sketch14
Projections on the building create private balconies and terraces for duplex apartments

This interplay of spaces is not only visually appealing, but is efficient in terms of spatial design that caters to a wide range of user requirements. Thus, the PLUS concept is certainly a commendable initiative in the realm of homes designed to suit an assortment of needs (Rohan Leher project by Rohan Builders).

3D sketch view of a typical 2BHK apartment at Rohan Iksha
3D sketch view of a typical 2BHK apartment at Rohan Iksha