Affordable housing is a pressing social need.
We see this as a $100 billion market opportunity.

India needs over 5 million houses every year.
We will lead this challenge.

India needs a robust affordable housing ecosystem.
We are creating this universe.

Housing represents a sizeable component of the country´s current urban infrastructure deficit, pegged at 18.78 million homes in 2012 according to the Ministry of Housing and Urban Poverty Alleviation.The rapid pace of urbanization owing to rural–urban migration proves a strain to this already weak infrastructure. India´s urban population registered a decadal growth of 32 percent rising from 285 million to 377 million between 2001 and 2011 and by 2050; 900 million people will be added to Indian cities.

The solution lies in expanding the city to provide affordable and well-connected lands for housing development. To meet the affordable housing demand, India needs several thousand acres of urbanizable lands.

We, at Brick Eagle identify these lands, work with local partners to acquire them, and supply the improvised land for affordable housing development. The group currently manages 1000 acres of land valued by Cushman & Wakefield at 3X, indicating capital appreciation and in the process setting the stage for a surge in affordable housing development in the country.

Greater Mumbai

Mumbai is the commercial capital of India and continues to offer a wide range of employment opportunities. About 400,000 people migrate to the city each year. Coupled with the natural population growth, the city’s population is expected to reach 33 million by 2030 from the current 24 million. As a result, the demand for housing in Mumbai is estimated to be over 500,000 units per year.

Recent studies have voted Mumbai real estate market as the most unaffordable in the world. Consequently about 60% of the city's population lives in slums or inadequate housing with poor sanitary conditions.

Brick Eagle observes that the price of urbanizable lands in the outskirts of Mumbai is cheaper than comparable lands in other metros. For instance, we have acquired lands in some of our projects at around $2 per square feet. In light of the massive shortage of affordable housing in Mumbai, we see this as a compelling investment opportunity.

Brick Eagle has identified two key belts as the future self-sustained cities in the outskirts of Mumbai; Eastern Mumbai District (EMD) comprising of various towns in Karjat Taluka (Neral, Bhivpuri, Shelu, Avasareetc) and the belt of NH3 comprising towns under Thanset, Shahapur and Kasara (TSK).

Eastern Mumbai District

Karjat is uniquely located at a critical point co-joining four different directions – Panvel-Mumbai, Thane, Khapoli and Pune-Bangalore. It is set to be a popular railway junction with the international airport and other important projects. Karjat will be the only railway station in suburban Mumbai, located both on the Suburban Harbor line and the Central CST line. Karjat district has eight train stations and is within 90 minutes commute from Central Mumbai. Additionally, it falls on the alignment of the MMRDA 12 lane Multimodal highway.

Thansit-Shahapur-Kasara (TSK)

Thansit is well accessible by suburban trains, located 1 km away from the Thansit station and 3 kms from Kardi station. The area is well connected to Kalyan and Thane - 45 minutes and 70 minutes respectively by suburban train commute.

Shahapur, the largest Taluka in the Thane district, lies on the Mumbai to Agra National Highway (No.3) and is 90 km from Mumbai. It is situated around 25 km from Kalyan railway station, 45 km from Thane, and 55 km from Mulund. It has also been declared as a centre for tourism by the Maharashtrian government.

Kasara lies at a critical junction on the Delhi-Mumbai dedicated freight corridor, which is being developed at a project cost of over $6 billion. The project envisages construction of 5,600 km of railway lines.This corridor will be equipped with an array of infrastructure facilities such as power facilities, rail connectivity to ports en route etc. Approximately 180 million people, 14 percent of the population, will benefit from the corridor’s development. Kasara is also one of the starting points of the central line of the Mumbai Suburban train system, and the gateway to Igatpuri hill station.

Development in the Land Business


  • Final completion work under progress in all the floors

  • Expected possession by end of April 2014

  • In 2013, we achieved quick turnaround, adherence to cost schedule
    and investors exited with 30% IRR


  • Xrbia Neral was launched in December 2013. It is a 60 acre township masterplanned by Architect Hafeez Contractor,
    comprising of 712 apartments and dedicated green and recreational spaces like playgrounds, pools and parks.

  • Strategically located at Neral,
    a town in Maharashtra’s Raigad district, Xrbia is situated on the banks of the Chillar river.

  • The project is well-connected to several railway stations like Neral,
    Karjat and Bhivpuri in addition to the world famous hill station,
    Matheran. It is accessible by road and rail to Mumbai and Navi Mumbai.


  • Master planning completed for small format homes for Social Housing

  • Business Plan is under development

  • Playtor Brand identity, created and finalised along with brochures

  • 40% IRR p.a projected for investors


  • Land sectoring plan has been developed

  • Site study is under progress

  • Further land acquisition is underway

  • Contour maps have been created for the land parcel

  • Further land acquisition is underway

Savargaon and Halivali

  • All NOCs received for Halivali

  • Land conversion approval expected in February

  • Access clearance to Halivali site obtained

  • Master planning currently in progress

  • 30% IRR p.a projected for investors


  • Bank financing application made for project development

  • Further land acquisition negotiations underway

  • 50% NOCs are in place and developer has been identified

  • Space efficient designs

  • 40% IRR p.a projected for investors


  • In addition to the 8,000,000 sq feet of saleable area,
    further land acquisition of ~20 acres is in progress

  • In 2013, we received 9 NOCs out of 13,
    created a rain water harvesting lake and built an internal road

  • Developers are shortlisted; execution of term sheet/ tax structuring underway

  • 40% IRR p.a projected for investors


  • The Project is spread across 104 acres, located right next to karjat
    station and well connected by road and rail to key employment
    regions of Mumbai.

  • The development will comprise of school, Hospital, Shopping Complex and comes
    with a scenic view of the Ulhas river across the perimeter of the promenade,
    masterplanned by Ar. Hafeez Contractor.

  • Phase 1 is currently under development with 13 enclaves
    comprising of 115 G+2 buildings for the expected
    delivery of 1000 keys by third quarter.


  • The 240 acre land parcel is located about 7km for
    Karjat station and in a valley surrounded by mountains & waterfalls.

  • The close proximity to residential zones in the
    Karjat area make the land ideal for social infrastructure.

  • We expect the project to generate 30% p.a for investors.

Brick Eagle enables affordable housing developers by offering management services.

The reality of affordable housing can come through nurturing and guiding organizations that can sustainably provide economical housing. This belief has led us to partner with likeminded developers and provide them with management consulting including strategy development, brand positioning, product definition and internal processes for sales, construction and vendor management.

Brick Eagle Housing Advisory is currently working with developers holding large land banks pan-India to successfully set up the business processes of their affordable housing divisions.

Sheltrex is a technology-driven housing company.

Sheltrex is a unique outsourced development model that Brick Eagle has pioneered. We recognize that local relationship and knowledge is a key barrier to entry in Indian Real Estate. No developer has managed to achieve national scale in India due to these constraints. Brick Eagle proposes to address this issue through its "City Manager" model. For any given location, Sheltrex shall partner with a ‘City Manager’ who will have strong local presence and will manage the project and risks associated with delivery. These City Managers will be allowed to invest and take a significant stake in the project. We believe this model is scaleable and could help us achieve pan-India presence in the coming years.

The pilot project under the Sheltrex banner is planned on a 108 acre land parcel at Oragadam, Chennai. The project has been designed by Architect Hafeez Contractor and IBM has provided the master-plan to build "Technology Integrated City", a first of its kind in India. Oragadam, on account of its strategic location in the heart of a growing industrial belt in Chennai, has seen a surge in demand for affordable housing in recent years.

adviory sheltrex logo

Incubated by Brick Eagle, Olympeo is a real estate company specializing in affordable townships. Comprised of experienced real professionals from IIT and IIM backgrounds, Olympeo's primary focus is to bridge gap between ‘lifestyle’ and ‘affordability.’ It promotes active and healthy living in their projects through their designs and amenities to preserve residents' health, and instills community-wide values for strong physical and mental development.

Olympeo has launched their first project "Olympeo Riverside", an integrated township spread over 25 acres.


Playtor is an Indian developer dedicated to building homes for children. Designed by Architect Hafeez Contractor, the homes are outfitted with state-of-the-art amenities for children to play and grow - while staying safe.

Playtor also represents Brick Eagle's first incubated company committed to delivering social housing, with homes available for as little as Rs. 10 lakh. These units are developed and sold through cross-subsidies, and distributed to end-buyers identified by the ground-breaking NGO Ashoka. In this way, Brick Eagle ensures that all units are made available to end-buyers - and are free from speculation and market vagaries.


Brick Eagle also manages a Venture Incubator center that nurtures entrepreneurial companies that can fill gaps in the development value chain.

We believe that the affordable housing ecosystem needs a host of support services to successfully deliver projects in the high volume low margin model. These include supply chain companies, project management companies, housing finance companies, contractors, marketing companies, sales companies, construction technology companies and design firms among others.

Brick Eagle has incubated three ventures till date :

Xeco is a specialized marketing and communications agency bringing the creative vision of a new generation of marketers to the real estate market. Xeco is passionate about serving the real estate industry and offers 360-degree marketing solutions that aggressively focus on the sales objective.

Based in Mumbai, Xeco is a truly international enterprise with partners from Italy, UK and USA.


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KlickBrick is an affordable housing sales platform for developers and distributors. Their business combines an e-commerce sales platform with a strong distributor network, providing a wide customer outreach in domestic and international markets.


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Technic Project Consultants (TPC) is a project management company specialized in affordable housing projects. The TPC team has extensive experience in managing affordable housing development with over 20 million sq.ft. in India and Qatar, at arguably close to industry lowest costs.The partnership with Brick Eagle will help TPC scale up and invest in new technologies.


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Phalcomm assists land owners and developers with their customer relations, by managing the revenue operations, customer grievances, and any customer related crisis situations, especially in distress projects. Phalcomm is also well versed in managing bank approvals for home loan offerings for various projects, legal documentation with respect to sales of units, registrations as applicable, as well as management of a Back Office to handle customer service. It has a robust team of over 100 field managers and executives who are process oriented and trained in the domain of real estate development.


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Renderlogy aims to provide exceptional technology enabled experiences, visualisations and solutions for the builders, suppliers and consumers. Renderlogy has developed patent-pending technology which defines a “design” and generates stunning visualisations. The same technology is being customized to be used by builders, suppliers and consumers, enabling them to design, customize, and visualize interiors with considerable ease.


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Brick Eagle – A Social Housing Platform

It is our privilege to be in an industry that addresses such a pressing social need. Our commitment to providing affordable houses is evident from the way we have built our business. Since our inception, we have invested in 12 projects spanning 1000 acres in Greater Mumbai, Chennai, and Mysore. Our investee companies Xeco (Marketing), KlickBrick (Sales Process Engineering) and TPC (Project Management) are experiencing trailblazing success in the sector.