Tata Housing launches low-cost project

Tata Housing Development Company has launched a low-cost housing project at Boisar, which is about 80 km from Mumbai.

The company said the model, offering apartments of 283 sq ft, 360 sq ft and 465 sq ft, in the price band of Rs 3.9 lakh-6.7 lakh, would be replicated across tier I and II cities.

Shubh Griha project

Announcing the launch of the project, Shubh Griha, of about 1,200 units, Mr. Brotin Banerjee, Managing Director and Chief Executive Officer, Tata Housing, said, “We observed that since most of the people in the low-income bracket live away from their families to earn a livelihood in the big cities, there is a large percentage of migrant population living in either rented or company provided accommodation. Our study shows that around 48 per cent in the lower segment are currently staying in rented accommodation. As a real estate company, we are sensitive to the need of providing this segment with their own home along with a community life. We believe in empowering them and giving them the pride of owning a house.”

Community concept

He said though it was priced at an entry level, the ‘neighbourhood and community’ concept would change the conventional residential choice available for this segment of consumers today.

With a balanced mix of buildings and open spaces, the projects would be constructed under the guidance of Indian Green Building Council.

The low-cost housing units at Boisar would be built on about eight acres of a total of 63 acres, which will also have homes in the affordable segment, besides shopping, hospital, schools and other amenities, in subsequent phases.

Mr Banerjee said revenues from the sale of low cost units alone would be over Rs 80 crore, while declining to furnish the total project cost. The units would be delivered in two years.

Booking Process

Applicants can purchase application form costing Rs 200 from select SBI branches across Mumbai. The bookings should be made with an initial booking amount of Rs. 10,000 at the bank branches.

The first list and the waiting list will be declared after scrutiny of applications. The allottees would be intimated by Tata Housing along with payment schedule.