Suraksha Smart City, an expansive 362-acre township in Vasai (E), has marked a significant milestone by securing 6,500 bookings under the Pradhan Mantri Awas Yojana (PMAY) in just three months, from March to May 2024. Suraksha Smart City expects to add a topline of Rs 1,450 crore from the record bookings.
The surge in PMAY bookings following the government’s decision to revise the eligibility bracket for the EWS now enables the inclusion of individuals with an annual household income of up to Rs 6 lakh in MMR. The policy shift has broadened access to homeownership, enabling a larger pool of buyers to secure bank loans for the 1BHK units, each priced at around Rs 22.50 lakh. This influx of buyers has been instrumental in driving the strong financial performance of Suraksha Smart City. A direct government subsidy of Rs 2.50 lakh and stamp duty of only Rs 1000 can be further availed under PMAY.
To meet the overwhelming response and ensure timely delivery, Suraksha Smart City has committed to leveraging advanced construction techniques, including precast technology with 3D casting. This not only accelerates construction timelines but also enhances build quality and streamlines labour management. The adoption of precast technology, in particular, has proven to be a game-changer, allowing the company to deliver high-quality homes while maintaining stringent timelines and cost efficiency.
Jash Panchamia, Management at Suraksha Group, expressed his enthusiasm for the project’s success saying, “The response we’ve received for Suraksha Smart City under PMAY is truly heartening. Our commitment to providing quality housing is unwavering, and the overwhelming interest from homebuyers reaffirms our belief in the importance of this mission. Our development is strategically located within walking distance of the station and offers township living alongside amenities such as a Forest Themed Garden, Multipurpose Turf, Yoga and Meditation Space, and an Outdoor Gym, all at an entry-level price of Rs. 22.50 lacs, we are dedicated to ensuring that every home is delivered on time and to the highest standards, maintaining the trust and confidence our buyers have placed in us.”
Suraksha Smart City’s location at Vasai (E) leverages the strength of being strategically located within the Mumbai Metropolitan Region (MMR), offering connectivity and access to the region’s growing infrastructure. Vasai is also increasingly becoming one of the ideal destinations for first-time homebuyers, as the area supports urban convenience while providing a serene lifestyle. This combination makes it a compelling investment opportunity for every homebuyer.
Suraksha Group’s continued focus on quality housing, coupled with its innovative construction approach, positions Suraksha Smart City as a key player in addressing the housing needs of India’s growing urban population. As the township expands, it is set to redefine living standards by offering a blend of modern amenities, strategic location, and sustainable infrastructure.
Looking ahead, Suraksha Smart City is preparing to launch additional phases, which will offer a diverse product mix ranging from Rs 20 lakh to Rs 50 lakh. These upcoming developments are designed to cater to the growing demand for affordable housing, ensuring that the township remains a sought-after destination for homebuyers across various income segments.
