Tata Housing Development Co Ltd informed about the start of a new for residential properties project. The residential project consist of 4000 apartments, located on the Central Line, approximately 1.5 km from Vasind station , Mumbai India. The company will have 1250 apartment flats of the “economy” category.
These residential properties, built under Shubh Griha brand, will be available between Rs 5.79 lakh to Rs 7.82 lakh. These flats are dedecated for people who are from the informal sector who are unlikely to get a loan to buy a house. Other flat unit will also be within reasonable price range, as well as row houses.
Tata Housing also informed about the creation of its new subsidiary company, the Smart Value Homes Pvt. Ltd that will administer those residential properties. This new subsidiary company will be targeting low and middle-income earners.
Brotin Banerjee, managing director and chief executive officer of Tata Housing Development Co. Ltd said that his company has formed a separate category dedicated for the affordable and low-priced residential properties, because they are considering the low-earners across Mumbai.
The company offers four definite categories for their new residential project—luxury category, premium category, affordable and low-cost categories.
Under the luxury and premium category, Tata Housing includes luxurious hillside residential properties at the Lonavala near Pune, the Aquilla Heights towers in Banglore, and the Raisina Residency complex in Gurgaon.
According to Banerjee, the residential properties will spread across 52 acres with a clear land title. The company also set up affordable residential properties in 10 different cities across the country.