Wednesday 21 August 2013

ACG Worldwide (earlier known as Associate Capsules Group) tie up with Vastushodh Projects for affordable housing project in Shirwal

ACG Worldwide (earlier known as Associate Capsules Group) tie up with Vastushodh Projects for affordable housing project in Shirwal

CG Worldwide (earlier known as Associate Capsules Group) is likely to unlock some surplus industrial land for an affordable housing project in Shirwal. The company has had tied up with Pune-based affordable housing realty company Vastushodh Projects.

Terming it as an pioneering experiment, Ajit Singh, Chairman, ACG Worldwide, said spare land would be used to set up affordable housing. Singh hoped other corporates would replicate this kind of project and divert surplus land for affordable housing. Singh was at the site for the ground breaking ceremony, the commercial launch for which begins on August 23.

Vastushodh will get 16 acre from ACG free of cost on which it will have to construct 850 units. Of this, ACG will retail 210 units as quarters for its employees free of cost. The remaining units will be sold in the open market by the builder. The sizes would range between 356 sq ft and 794 sq ft with units costing in a range of Rs 10 lakh to Rs 25 lakh.

Sachin Kulkarni, MD, Vastushodh Projects, a 12-year-old company that focuses on affordable housing in Pune, said they have tried to overcome barriers in the development of affordable housing. "The unlocking of land by corporates such as ACG was a significant step in the affordable housing space," he said. Vastushodh has constructed 1,700 housing units and is in the process of constructing 13,000 more units in the affordable housing segment. 

Vastushodh Projects is a Pune based real estate company primarily operational in affordable housing. 


ACG Worldwide caters to the global pharmaceutical and dietary supplement industry. 

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