Investor Presentaiton

6. Private sector involvement in housing in Pune An Example Pune Nirvana Hills Slum Rehabilitation Project entails the rehabilitation of 76 acres in Pune at Nirvana Hills. The project was undertaken in 2011 under the Slum Rehabilitation Scheme (SRS) developed by the State of Maharashtra and regulated by the Slum Regulatory Authority. There are about 4,324 slum households on the land, which are home to approximately 14,000 people. The project also entails the development of residential (about 1,800 apartments), commercial (about 300,000 sq. ft.) and retail space (approximately 1.3 million sq. ft). Amenities and infrastructure form a part of the project include a housing society office, self-employment centre for women, playgrounds, daycare facilities, exercise rooms, community and senior citizen recreation centres, libraries, primary and secondary school, and a park area. The infrastructure component would consist of water supply, storage and rainwater harvesting systems, sewage treatment and disposal systems, fire fighting systems, power supply and back-up systems for elevators and water pumps. The project has been undertaken by Kumar Urban Development Limited, a successful, well-known real estate developer based in Pune; with technical and loan assistance from ADB. Private sector loan (approved) by ADB is 35,000 US$. The objective of the project are to provide new, free housing with joint titles (to husbands and wives, where applicable) to the eligible slum dwellers currently living on the site. The project outputs are defined to include (i) new housing for current slum dwellers; (ii) construction of commercial residential housing; (iii) construction of commercial and retail space; (iv) employment generation; and (v) contribution to local economy. This project would greatly improve the of slum households quality of lives through access to better shelter and sanitation; while also addressing the shortage of residential housing in Pune, and providing needed commercial and retail space for local businesses. The project combines infrastructure development with targeted poverty reduction components, which are be critical to improving urban environment so that Indian cities can handle larger populations, facilitate rapid but inclusive economic growth. (ADB website) 17

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