Janaadhar Constructions, which has Janalakshmi Social Services (a not-for-profit company) as majority promoter, handed over the keys to home buyers of Janaadhar Shubha, its first affordable housing project which is targeted at aspiring first-time home owners among the urban low income group.

Other promoters of the project in Janaadhar Constructions are Sterling Developers, a real estate development company, and Mr V. ‘Naresh' Narasimhan, Architect — Principal, Venkataramanan Associates.

Janaadhar had received funding support from the Michael & Susan Dell Foundation to address the affordable housing challenge in urban India through this unique “social business” model. Janaadhar is also supported by Central Bank of India in the form of project finance for construction.

Janaadhar Shubha comprises of 1,128 flats with a saleable area of seven lakh sqaure feet. Located on the Attibele-Anekal road and close to bustling industrial and IT economic hubs — Electronic City.

The first phase of the project involves 480 flats (one bedroom) of 400 square feet each, priced below Rs 5 lakh (excluding property registration and other government charges).

Janaadhar Shubha is intended for those urban dwellers who have long cherished dream of owning their own home, but so far been priced out in Bangalore's real estate market.

Typical customers of Janaadhar are families with monthly household incomes of around Rs 15,000; the general types of occupations would be shop floor workers in factories, families with single or dual incomes from semi-formal and informal economies like security guards, household help, autorickshaw drivers, hospital nurses, petty shop owners and so on.

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