Thane: Chadha Developers Denies Allegations, Affirms Commitment To Building 26,000 EWS Homes In Vangani

Mumbai: Chadha Developers has refuted all allegations leveled by some Congress leaders and reiterated that it is committed to provide affordable housing to the people belonging to the economically weaker sections (EWS). Chadha Developers has taken up the work to build 26,000 homes for EWS at Vangani in Thane district.

The houses are being built under Pradhan Mantri Awas Yojana (PMAY) with MHADA being the implementing authority. "We are committed to provide affordable housing for the poor and fulfill their dream of owning a house in Mumbai. The group aligns with the mission and vision of the Prime Minister and the Maharashtra Chief Minister. Notably, we are building 26,200 homes for the EWS class. As many as 1.25 Lakh people will benefit from the project," Managing Director of Chadha Group, Dimple Chadha said while speaking to reporters on Friday.

Stating that the charges that are being levelled against are baseless, Chadha said, "We are the only developer in Maharashtra that is not taking a single amount of interest or penalty from these investors on late payments. It's the cause and the vision that matters to us, and the Congress along with other opposition parties are unnecessarily politicising the noble cause."

"We have been in the realty business since 2002. The project at Vangani is completely self-funded without any bank loans. We are not a bankrupt group," Chadha said and claimed that theirs is the only group in MMR that is building houses exclusively for the poor people.

"This Ganesh Chaturthi, we will be handing over possession of 1,000 apartments followed by more in December, totaling 4,114 homes. Our goal is to fulfill the dream of every poor person to own a home," Chadha said.

The developer stated that there are certain individuals who don't want the project to get executed. "Since the houses are being made available at low prices, the local builders are not able to sell their flats which are available at higher prices. As a result, they all have come together and hatched a plan to defame our group which is working sincerely towards low cost housing," he said.

"The seed capital approved for our project will be disbursed within eight equal instalments on the construction linked plan. Our complete project will be mortgaged to the Government of Maharashtra including land and the amount will be directly refunded through our escrow account by MHADA. This entire seed capital is given to the poor people and will be returned to them," he added.

Chadha further said that due to COVID-19, close to 5,000 families suffered major financial problems and they were not able to pay EMI on time to banks as a result their CIBIL scores got affected. "These families can either rent or EMI at one time as it is very difficult to pay two payments at one time. On listening to all of these issues, the Chief Minister asked us to go ahead with the construction as scheduled and deliver these houses on time," Chadha said.

Currently, the construction is in process on 110 towers out of 133, with a targeted completion date of December, 2026 as per our project deadline issued by MahaRERA. However, the group aims to deliver possession of the initial 4,114 flats by 2024, two years before the timeline.

The township consists of 133 G+7 towers and will have amenities like 24-hour water and electricity supply, open air and indoor gym, club house, swimming pool, children's play area, yoga room, badminton court, basketball court, jogging track, CCTVs, power back-up, hospital, five commercial malls, gardens, school, market etc.