New Prosperity Model (Housing)

The GB appointed Funds & Assets Management Committee (GB-FAMC) announced that it is proposing a new housing facility ‘Prosperity model’ “so that every working Aurovilian will be able to have a house in Auroville ''. The model proposes a monthly donation instead of a lump sum donation, which would eliminate the old method of market valuation of an asset for a house transfer. The funds collected would be used to support Auroville’s housing assets and include the costs of house repairs, panchayat taxes, annual survey of all buildings, repatriation costs and costs of administration for the housing team maintenance and staff. The GB-FAMC estimates that monthly donations would be required for a 7 year period (small houses @ Rs 6 lakhs for singles and couples Rs 7,200/month; medium houses @ Rs 9 lakhs for a couple and a child Rs 10,700/month; and larger houses @ Rs 12 lakhs for a couple and children Rs14,300/ month.) The GB-FAMC believes that “this modality allows for progressively moving all housing assets and also new collective housing projects to be fairly supported for all and maintained adequately without undue burden.”