Tag: Mr. Pritam Chivukula

News

Modi 3.0 begins with major housing initiative: Assistance for 3 crore new homes under PMAY

Jun 11, 2024 by Mansi Praharaj 0 Comments #CREDAI MCHI, #Mr. Pritam Chivukula, #PMAY, #Prime Minister Modi

In a decisive move hours after taking office for a historic third consecutive term on June 10, Prime Minister Narendra Modi’s new Union Cabinet announced its first major policy decision: to provide assistance for the construction of an additional three crore rural and urban houses under the Pradhan Mantri Awas Yojana (PMAY). This ambitious project aims to further the government’s mission of ‘Housing for All.’

Mr. Prashant Sharma - President, NAREDCO Maharashtra

Mr. Prashant Sharma, President of NAREDCO Maharashtra, expressed strong support for this initiative. He stated, “We welcome the Cabinet’s decision to provide assistance for the construction of three crore additional rural and urban houses under the Pradhan Mantri Awas Yojana (PMAY). This initiative is a significant step towards achieving the vision of ‘Housing for All’ and will undoubtedly bolster the real estate sector, particularly in the affordable housing segment. The increased focus on rural and urban housing will not only improve the living standards of millions but also create substantial employment opportunities, thereby contributing to the overall economic growth. We at NAREDCO Maharashtra are committed to supporting this endeavor and look forward to collaborating with the government to ensure the successful implementation of this ambitious project.”

Echoing this sentiment, Mr. Pritam Chivukula, Vice President of CREDAI-MCHI and Co-Founder & Director of Tridhaatu Realty, remarked, “The Union Cabinet’s first decision to provide assistance for the construction of three crore additional rural and urban houses under the Pradhan Mantri Awas Yojana (PMAY) is a progressive step that aligns with our commitment to addressing the housing needs of our nation and bolstering infrastructure development. The emphasis on both rural and urban housing is particularly commendable, ensuring that the benefits of this initiative are widespread and inclusive. This decision will not only enhance the quality of life for countless families but also stimulate economic growth by fostering related industries. We at CREDAI-MCHI are eager to collaborate with the government to achieve these ambitious targets and contribute to the successful implementation of PMAY.”

Since 2015-16, under Prime Minister Modi’s leadership, the Pradhan Mantri Awas Yojana has been instrumental in providing assistance to eligible rural and urban households for the construction of houses with basic amenities. According to the Government, over the past decade, approximately 4.21 crore houses have been completed under this scheme, demonstrating the government’s commitment to improving housing infrastructure and living standards across the country.

As the Modi 3.0 administration embarks on this renewed journey, the focus on ‘Housing for All’ underscores a continued dedication to inclusive growth and development, aiming to make a tangible difference in the lives of millions of Indians.

Business, News

SWAMIH Fund invests Rs. 150 crore in Tridhaatu Realty’s Chembur project

Aug 14, 2021 by Rekha Nair 0 Comments #Co-founder & Director, #Mr. Pritam Chivukula, #Tridhaatu Realty

Mumbai: Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH I), the government-backed last-mile financing platform has made an investment of over Rs 150 crore to complete a residential project of realty developer Tridhaatu Realty & Infra located in Chembur, Mumbai. As per the terms, SWAMIH’s investment will hold senior charge for the exit from the project once it gets completed and the existing investor will get repaid after that.

Tridhaatu had started this project Tridhaatu Morya in 2018 and now with the financial support from SWAMIH I, it is expected to complete the same by December 2023 as per the final investment terms. The funding will be utilised for construction activities and paying statutory development premiums to the government authorities along with ensuring the completion of the project within the RERA deadline.

Commenting on the investment, Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty said, “This last-mile funding from SWAMIH fund has helped us speed-up the construction activities at our site. The project management team of SWAMIH is thoroughly recording and monitoring the progress of the development each day to ensure timely completion of the project to the homebuyers. We at Tridhaatu Realty have always prioritized our customers’ satisfaction and are assuring them the on-time delivery of Tridhaatu Morya backed by SWAMIH’s support.”

Inspired by the myriad elements of nature and redefining all the parameters of luxury, Tridhaatu Morya comprises 1 & 2 Bed Residences starting from 1.37 cr onwards. The gated residential complex is one of the very few projects in the neighbourhood that is a freehold development and a non-SRA project. It is spread over 2 acres featuring 3 towers of 18 floors each with 3 Basements and 1 Podium. The carpet area for the apartments ranges between 477.28 sq. ft. to 723.77 sq. ft. With more than 16+ lifestyle amenities, the project is centrally located in Chembur that enjoys the best physical and social infrastructure in the immediate vicinity. It also enjoys excellent connectivity to the Eastern Freeway, Santacruz Chembur Link Road (SCLR), BKC, and Navi Mumbai. The RERA possession of the project will be June 2025.

Business World

Realtors plan precautionary measures at construction sites

Apr 6, 2021 by Neel Achary 0 Comments #Chief Operating Officer, #Co-founder & Director, #CREDAI MCHI, #Director, #Mr Ashok Mohanani, #Mr. Abhishek Jain, #Mr. Anuj Khetan, #Mr. Pritam Chivukula, #NAREDCO Maharashtra, #President, #Satellite Developers Pvt Ltd, #Tridhaatu Realty  Hon. Secretary, #Vijay Khetan Group
With daily surge in Covid-19 cases in Maharashtra, the State Government has imposed new guidelines with regards to the continuation of construction activity. Here are the guidelines:

a) Construction to be allowed only for sites where labourer’s are living on site. Movement to and fro from outside must be avoided, except for the purpose of material movements.

b) Every one engaged in the activity to get vaccinated at the earliest, as per criteria of GOI and till get vaccinated must carry a negative RT-PCR test result certificate, which will be valid for 15 days. This rule will come into effect from 10th April, 2021

c) Defaults will lead to a fine of 10000/- for the developer of the construction site and repeated defaults may lead to closure of the site till existence of notification of COVID 19 epidemic.

d) lf a worker is found positive he or she would be allowed medical leave and cannot be discontinued during this absence for this reason. He or she will be entitled for full wages that he or she might have earned had he or she not contacted corona.

Soon after the announcement, the real estate industry quickly rushed into the action mode and ensured that they took necessary precautionary measures to battle out the pandemic crisis. Taking the experience from the last year, some of them have already implemented these measures for the safety of the labourers much before the State Government imposed the guidelines.
Ashok Mohanani, President -NAREDCO Maharashtra
Ashok Mohanani, President -NAREDCO Maharashtra
Mr. Ashok Mohanani, President, NAREDCO Maharashtra
”We are working closely with all the NAREDCO members and following all the necessary Government guidelines. Infact, all our members have been doing this much before from the time Covid-19 crisis disrupted the real estate sector last year. Labourers are the most vital and the integral part of the real estate industry and taking utmost care of them is our paramount responsibility. We are ensuring that regular sanitization of the construction sites are done and proper accommodation is provided to the labourers at the sites. We are also conducting regular health check-ups and vaccination awareness programs for the workers. We have made the RT-PCR test mandatory for all the migrant workers who are coming back from their hometown as per the Government guidelines. We are ensuring that they complete their tests before joining the construction sites.”
 
Pritam Chivukula
Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Hon. Secretary, CREDAI-MCHI
Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty 
Hon. Secretary, CREDAI MCHI
“Unlike the last year lockdown, we are relieved that atleast construction activities can go on where labourers are already present at the site. The Government has mentioned that the labourers need to get vaccinated at the earliest and till their vaccination they need to get their RT PCR test done. This won’t affect the large and medium-sized developers as they are already taking the necessary precautions at the sites. Although this will affect the small developers and also the redevelopment projects as they do not have enough space for labour camps.
 
There is no stringent lockdown like last time as essential services and other basic requirements are easily available. We at MCHI-CREDAI are getting the health check-ups done for the labourers along with the vaccination awareness program. We will comply with the Government guidelines and get the RT PCR test done for most of the labourers till 10th April. We are in talks with local urban bodies for conducting free tests for the labourers. For project sites in the outskirts of the city, we are planning to tie-up with private organizations to conduct the Covid tests. Most of the labourers are in the age groups from 20-40 and as per the GOI directive, the vaccination below the age of 45 has not been initiated yet. Hence we are writing to the Government to grant permission to conduct the vaccination for these labourers on priority and if feasible to conduct the vaccination drive on the construction site itself.”
Mr. Abhishek Jain, COO - Satellite Developers Private Limited
Mr. Abhishek Jain, COO – Satellite Developers Private Limited
 
Mr. Abhishek Jain, Chief Operating Officer, Satellite Developers Pvt Ltd
“Proper health and hygiene for all our workers have always remained a top priority and all necessary initiatives are taken from our end. We have provided shelter to the workers in labour camps and have also provided resources for their daily food along with masks and sanitizers. Also, as per the government guidelines, we are getting their RT PCR test done before the said timeline.”
Anuj Khetan - Director, Vijay Khetan Group
Anuj Khetan – Director, Vijay Khetan Group
Mr. Anuj Khetan, Director, Vijay Khetan Group

”We at Vijay Khetan Group have always prioritized the health and safety of our workers at all our different construction sites. We have arranged for hygienic boarding and lodging on site for our workers along with distribution of face masks and sanitizers. The Covid 19 pandemic, while draws the world’s attention on the importance of vaccines, we have ensured to give paid leave to all the eligible workers for vaccination. Also, for the workers, we are getting RT PCR tests done as per the government guidelines. We are maintaining thorough sanitization at all our sites for the safety of our workers and stakeholders.”