Tatas propose low-cost housing in Mumbai
Agencies
Posted: Wednesday, May 06, 2009 at 2001 hrs IST
Updated: Wednesday, May 06, 2009 at 2001 hrs IST
Mumbai: Tata Group announced a housing project which offers a flat for less than Rs 4 lakh at Boisar, around 100 km from the financial capital of the country.
Unveiling the group's second mass project after Tata Motor's Rs 1 lakh car Nano, Tata Housing Managing Director Brotin Banerjee said, "It's not a house, it's a home that we will be providing".
The project, built on 63.58 acres, will offer 283 sq ft flats with a room and a kitchen at Rs 3.9 lakh under the brand 'Shubh Griha' and would also have a demarcated area where the price of units may range between Rs 10 lakh and Rs 16 lakh. It would also have a hospital, a school and recreational facilities.
Banerjee said Tata Housing will start similar projects under the 'Shubh Griha' brand in the National Capital Region (Delhi) and Bangalore in the current fiscal. It also plans to replicate such projects in Chennai and Kolkata followed by other Tier-I and Tier-II cities. "We observed that since most of the people in the low- income bracket live away from their families to earn a livelihood in big cities, there is a large percentage of migrant population with people living in either rented or company provided accommodation," Banerjee said.
"Our study shows that 48 per cent of the people 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 community life," he said, however, adding that local people would also be eligible to own homes in these projects.
Banerjee said in the Boisar project, a one BHK flat with a total salable area of 465 sq ft would be available at Rs 6.7 lakhs.
Tata Housing would sell 1,200 homes in the low-cost segment and 2,000 units in the affordable housing segment. Value homes would be sold through a lottery for which forms would be available at some select State Bank of India branches from coming Saturday.
Banerjee said Tata Housing has tied-up with HDFC and SBI for financing and is in talks with other lenders as well for this purpose.
The company is also looking for government support to start such projects under the public-private-partnership model, which according to Banerjee, could, in some extent, solve the staggering 24.7 million housing shortage in the country.
Comments
» im in need of a home
Posted by gopalakrishnan on 2009-05-22 20:38:01.609049+05:30
IM a student of final yr b.com.Im facing financial problem.I dont hve a own house.plz help me my parents dint hve a proper job.plz can u gve me a contribution
» Nano can be Global
Posted by Deepak on 2009-05-19 20:07:59.373933+05:30
Hi. this is deepak.. my idea towards nano project is to take the nano car to the global market. due to the recession we have great opportunity for the low cost car in the market. so please think about it. thank you.
» Also need to concenrtrate of water , energy , plastics...
Posted by siddiqbdk on 2009-05-07 10:53:17.362832+05:30
This is the good move from TATA. Offcourse 4 Lac is not much cheaper comparing the location. But is the good sign that MNC are thinking of poor. Our small suggestion is TATA like big companies are also should concentrate on water problem of the people. They can campaigh in good manner for save the water. Surveys are showing , india has wasting very big volume water, energy etc. We should campaign it with media to the public. And also they need using the plastics. It is very much harming human health. TATA like company can do it. Reliance also need think about poor. Their record with poor , common are not good till the date. " money has value once it using for public favor"
» NOT SO LOW COST HOUSES THEY ARE AT BHOISAR
Posted by Sreenivasan E.C. on 2009-05-07 10:25:56.14843+05:30
I have no idea about the amenities they are going to provide in this proposed nano housing project at Bhoisar. However, at the prevailing prices the small houses offered are not at all low cost looking at the area of the proposed flats. It would have been a low cost house if the location is within the Mumbai suburbs upto Virar and Kalyan. The pricing of the flat is very much on the higher side and it is prohibitively hot for common man.
» Tatas appear to think with their heart in Bharat; but needs more to smell the earth.
Posted by Samanya Praja on 2009-05-07 10:16:06.258363+05:30
The project location may not be very ideal. However, the concept is good. Looks like the Tatas are thinking good and they seem to have a vision for Bharat. Wish Tatas include more public opinion on their plans for projects like these. They need to smell the earth more and have the bottom up approach in developmental projects like these. That way their well intentioned plans don't go haywire and land up as wasted ones or seen as exploitative and for pushing Tata's products at the cost of Bharatiya's living comforts.
» Great Idea but would have been greatest if was in City or nearby
Posted by BombayBoy on 2009-05-07 08:33:51.489868+05:30
This is a great idea by TATAs again, whome I admire a lot.It would have been great if it was nearby the city within the commutable distance, I can bet these kind of project will definitely be profitable even if they are in the city or nearby areas, it will bring the unneccessarily increased property price to the actaul level of 2000/sqft where in the middle class people can afford to buy one.Many Thanks Again to Sir TATA.
» Sounds like the building of the post WW 2 'Shotgun Shacks' in the US
Posted by Think- Again on 2009-05-07 06:30:25.62658+05:30
Excellent move. But should be careful that it does not become a multistory slum, like the 'projects' in Chicago.Perhaps could have security patrol included in price, and rules on what can be done by residents. Have residents association and more.Also should design for community. In west most flats make neighbors into strangers. Would be pity if that were case in this case. Good way to start would be to have doors facing each other, and to have lots of benches to sit on, so neighbors run into each other often during their daily activities.
» great project!!
Posted by pratik on 2009-05-07 00:35:19.355145+05:30
Tata has once again shown how corporate responsibility and profitability can go hand in hand. Lately, all new projects in Mumbai were centered around the rich, so this will definitely be great for Low Income Groups.
» More Nano customers?
Posted by Jay on 2009-05-06 21:58:07.384572+05:30
How will they commute from their “homes” in Boisar, around 100 km away from Mumbai, to their work place? Is that another plan to push sell “Nano” car? It seems that this project is targeted towards low income and middle income people who depend on daily attendance in their work place. It will take at least about 6 hours only for commuting on a daily basis.
