OM provides safe and affordable housing solutions for low-and moderate- income families in need of housing. We meet our clients’ needs through our varied programs, which include:
- Affordable housing
- Financial Linkages
- Capacity Building
Our building management strategy uses a “mixed income model” providing a win-win situation both to the Landowners on whose land the housing apartments are constructed and also the families who buy residential units / flats in those apartments. Usually, the Landowners do not have adequate finance to build a new house on their land. We get into a Joint Development Agreement with them and develop a residential building on their land on a revenue sharing basis. Through this mechanism the Landowners get a substantial revenue from their share in the buildings constructed by us and also the buyers of residentials units / flats in those buildings are able to buy houses at affordable prices. By balancing the proportion of units within an individual building, we ensure that affordable housing apartments are financially sustainable by providing an inclusionary approach to housing where residents of mixed financial means are blended together.
Who do we work with?
We work 2 (two) categories of people and institutions:
- Small landowners who do not have adequate finance and are interested in joint venture arrangements to develop their land and build a safe and adequate housing shelter for themselves and also earn revenue from the same.
- Banks and other Financial Institutions who provide financial support and loans for affordable housing segment for citizens working in the informal sector.
What are our capabilities?
Our skills are in project management, housing development, regeneration, housing management, marketing, customer service and running successful business.
We also have access to local affiliates with extensive knowledge of real estate and housing finance.
Where do we operate?
Presently our target areas of operations are districts Howrah and Kolkata in the state of West Bengal in India.
What is our working philosophy?
Our working philosophy holds an understanding of the local landscape, patience and strategic long-term planning are the proven elements that produce successful returns.
Our approach focuses on putting appropriate controls in place to mitigate some of the challenges and risks in affordable housing segment in order to be consistent and generate adequate and sustainable returns and steady cash flow.
Our primary responsibility to our clients is to protect their hard-earned money and make their long-term dream of owning a safe and adequate housing come true:
We do this by:
- Carefully selecting the development opportunities that we participate in;
- Managing and mitigating against risks;
- Maintaining strong costs control mechanisms;
- Ensuring security of assets and title, such as in relation to land;
- Compliance with appropriate regulations and laws.
The Board of OM have extensive track record and experience of developing, investing, designing and managing real estatein Howrah and Kolkata, West Bengal, India. We have been involved in numerous projects ranging from small residential projects to large scale new build and regeneration projects.
We bring our excellent track record to provide solutions for the EWS and low-income earners looking for affordable housing products.
With the vast knowledge and experience of working in varied markets, we realise the advantage of being able to:
- identify the problems
- work together with like-minded partners and
- provide solutions to local problems deploying expertise and knowledge acquired over the years.
The team of OM have cultivated strong relationships and networks in affordable housing development and home financing to informal sector to facilitate the required expertise and resources required to execute projects.