Typical illustration of Calgro M3 project locations and amenities
Calgro M3 Developments services the housing market through various business sectors within the market, namely:
Public sector
Subsidy of the day
Breaking new ground (“BNG”) fully subsidised ownership
Providing fully subsidised units to qualifying South Africans (updated version of Reconstruction and Development Programme (“RDP”) housing)
Targets income earners < R3 500 pm
Move into CRU if monthly earnings > R3 500 pm
Subsidy as per national community residential units (“CRU”) policy
The community residential unit (“CRU”) programme comprises subsidised rental units owned by the public sector
Targets income earners < R7 500 pm
Move to next housing segment depending on increased income level > R7 500
Private sector
Up to R400 000
Social housing (subsidised rentals)
Social housing is a rental or cooperative housing option of subsidised rentals owned by non-profit social housing institutes
Targets income earners < R22 000 pm
Move to next housing segment if monthly earnings > R22 000
Subsidy risk taken by social housing company, not Calgro M3
Up to R600 000
GAP, FLISP and private rental housing segment
Grassroots affordable people’s (“GAP”) homes cater for people excluded from the subsidised programme but with incomes too low to qualify for traditional affordable homes
Finance linked individual subsidy programme (“FLISP”). The product was introduced when the affordability level to qualify for subsidised housing was removed, allowing people previously disqualified based on income, to qualify for a partly subsidised home
Subsidies to the individual ranging from R27 960 to R121 626, depending on income level
Targets income earners < R22 000 pm
Up to R900 000
Affordable housing
Full and sectional title residential units aimed at homeowners in the bonded market regulated by the Financial Services Charter (“FSC”)
Targets income earners > R22 001 pm
R900 001 up to R3 000 000+
Mid-to-high income housing
Full and sectional title residential units aimed at homeowners in the bonded market, outside the FSC
Targets income earners > R30 000 pm