Tata Housing plans projects for non-metros

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Tata Housing Development Company and Raheja Builders on Thursday said they would invest Rs 350 crore in jointly developing a residential project with around 340 luxury apartments at Gurgaon.

Navin Raheja of the Raheja Builders said at the unveiling of the project that, "The project, Raisina Residency is spread over an area of 11.73 acres and it would be jointly developed by the two partners, Tata Housing and Raheja Developers”.

Mr Raheja added that the project is pre-certified Green Building under the guidance of IGBC (Indian Green Building Council)

Brotin Banerjee, managing director of the Tata Housing Development Company, a wholly owned subsidiary of Tata Sons Limited said that the ‘Raisina Residency project’ is targeted at the high-end (upper income) consumers.

When asked if the Tata Housing has any plans for coming up with projects catering to the lower and upper middle (income wise) groups, Banerjee said, “Given the current prices of basic ingredients of building such as steel and cement it is difficult to go in for providing ‘affordable’ housing.”

Laying stress on the private-public partnership for providing housing to lower income groups, Banerjee said, “If the Government pitches in by providing cheap lands and cutting down the costs of basic building materials real estate developers can come with projects with houses catering to different income groups.”