Shapoorji Pallonji Real Estate Triumphs at CNBC Awaaz Real Estate Awards 2013

~Awarded with the ‘Best Affordable Housing Project’ for SP Shukhobrishti in Kolkata~

Mumbai, January 02, 2014: Shapoorji Pallonji Real Estate (SPRE), a division of Shapoorji Pallonji Group, bagged an award in the ‘Affordable Housing’ category for its SP Shukhobrishti project located at New Town, Rajarhat in Kolkata. The awards were held on Saturday, December 22 at Taj Lands End, Mumbai. The chief guest of the event was Dr. Girija Vyas from Minister of Housing and Urban Poverty Alleviation.

SPRE received this coveted award by the jury-panel after an evaluation of the company’s project attributes, amenities, infrastructure and location.

SP Shukhobrishti is the largest mass housing project in the country, and is spread across 150 acres of land comprising of 20,000 apartments which are divided into two enclaves ‘Spandan’ (1BHK apartments) and ‘Sparsh’ (2BHK apartments). The construction work commenced in 2007. BSHDPL started construction of 7378 dwelling units (3538 LIG and 3840 MIG units) in phases and handed over around 3400 dwelling units (2100 LIG and 1300 MIG units) till date. Once completed, Shukhobrishti will be home to nearly 1,00,000 people. With 73% of the area open to the sky, Shukhobrishti promises to be an abode like no other. And with the Shapoorji Pallonji stamp of quality and trust, it is truly a dream home. The architect of the project is Surbana International Consultants (PTE) Ltd.

The Phase 3 of SP Shukhobrishti was launched in August 2013 and was a major success as there was an overwhelming response from the applicants allover. BSHDPL had distributed nearly 63000 application kits for just 1106 LIG apartments and 409 MIG apartments. Finally BSHDPL has received 38000 filled-in application forms from the deemed customers. All these flats will be allotted through a transparent process of draw of lots to be conducted in presence of WBHIDCO Ltd and supervised by Ernst & Young LLP. Presently the price of each LIG (1BHK) apartments and MIG (2BHK) apartments are Rs. 4,51,000/- and Rs 10,12,000/- respectively.

The CNBC Awaaz Real Estate Awards is considered India’s biggest and most credible Real Estate Awards that honors exemplary real estate developers and builders who have played a major role in shaping the country’s success story. The focus of the CNBC Awaaz awards this year was to move to efficient project management and measurable customer satisfaction.

On receiving the award, an elated Rayomand Dastur, EVP- Shapoorji Pallonji Real Estate said “We are happy to receive an award for affordable housing. We entered in this segment in 2007 to cater to the highly under-serviced market and satisfy the social need of providing low-cost housing. It is our constant endeavor to create benchmark projects for our masses and this award is a testimony of our commitment to provide best in class infrastructure for our consumers at an affordable price”.