Affordable housing project launched in Mumbai
Group Satellite has been in the business of developing Mumbai real estate since 1971 and is known for its transparency and timely delivery. The group launched its first affordable housing project in Malad East, Aarambh, on February 1. The project has 1,000 units starting at Rs 45.45 lakh for a 1-BHK with 2 bathrooms, 11.8 ft ceilings, a flexi-loft and curated amenities.
The concept was aimed at catering to Mumbai’s undeserved with good quality housing at affordable prices. Sarjan Shah, Managing Director, Group Satellite, said, “Since my return from Harvard Business School, I’ve focussed on redirecting the group’s attention on the rapidly growing population of underserved and unserved Mumbaikars — people who live, work and grow in Mumbai but can’t afford to own their own homes until much later in life. Now, one and a half years later, we are really excited for the launch of Aarambh, Mumbai’s most inexpensive new homes. We have worked hard on product design and curated financial plans to make home ownership a dream come true for a new segment of Mumbaikars.”
He added, “So far we have received an overwhelming response from Mumbai citizens who never thought they could own a home in the city. Our site is lined up with hundreds of people every day who dream of buying a home in Mumbai and whose dreams are fulfilled by our group.”
Real estate development has always been a vital pillar for the progress of the economy. With projects in affordable housing like Aarambh, the company is paving way for a paradigm shift in the industry’s perspectives and focus, aligning to a new and emerging India.
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