Beleagavi: Bellagavi-based Realtor, Chaitanya Kulkarni, is set to East Africa to build 6,000 affordable homes invest around 1,500 crore Rs in Kigali, Rwanda.in October 2021, the company, CGK and Real Estate Construction (C-treatment), signed a memorandum of understanding (MoU) with Rwanda Housing Authority (RHA).
The agreement is currently in the final stage because the government has not yet cleared the land allocation.
Two separate parts, one measuring up to 13.7 hectares and 22 other hectares, has been identified by RHA.Kulkarni, the company’s executor director, told toi that in the first phase of 2,688 housing flats would be built at 13.7 hectares.
6 km from Kigali International Airport.
Construction is likely to begin in nine months.
Kulkarni is the President of the State of the Confederation of the Indian Real Estate Developer Association and is aide near South Vessivy Mla Abhay Patil.
Kulkarni said he was first consulted by the Government of Rwanda in 2017-2018 when two apartments were ranked 7th and 6-stars by the Global ranking company research.
He first visited African countries in 2019 For two bedroom houses.
, the price is limited to $ 23,500 and for a three bedroom house, the price will be $ 34,000.Kulkarni said he persuaded the government to provide subsidies of interest in loans to buyers, even when the government itself would provide customers for brokers.
Each apartment building will have 32 flats while 70% of the house will fall under affordable segments.
This is a five-year project, he said, and will take around 65 days to build an apartment.
Because the country is locked up in land, it will be the source of the material needed from Nairobi.
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