Affordable homes will be developed across India by Tata Housing Development Company. Up to Rs 3,000 crore would be invested by the company by next fiscal for this purpose. Already five affordable housing projects are under Tata Housing Development Company and by next fiscal another 7 to 8 projects are on the anvil which the company will launch shortly. A subsidiary named ‘Smart Value Homes’ has been formed by Tata Housing and the company plans to develop affordable houses under this subsidiary. The prices of affordable houses will range from Rs 5 lakh to Rs 35 lakh.
Mr. Brotin Banerjee, the managing director of Tata Housing Development Company said that an amount of Rs 2500 to Rs 3000 crore will be invested by the company in 2011-12 for the development of existing as well as new affordable housing projects. Mr. Banerjee said that three projects with a total area (saleable) of 10-12 million sq ft are being developed by Smart Value Homes in Mumbai, Pune and Chennai respectively.
He said that three more projects are on the anvil in Mumbai, Bangalore and Ahmedabad. These will begin during the first quarter of 2011-12. The company is also planning to start more projects in other parts of India.
Mr. Brotin Banerjee, the managing director of Tata Housing Development Company said that an amount of Rs 2500 to Rs 3000 crore will be invested by the company in 2011-12 for the development of existing as well as new affordable housing projects. Mr. Banerjee said that three projects with a total area (saleable) of 10-12 million sq ft are being developed by Smart Value Homes in Mumbai, Pune and Chennai respectively.
He said that three more projects are on the anvil in Mumbai, Bangalore and Ahmedabad. These will begin during the first quarter of 2011-12. The company is also planning to start more projects in other parts of India.
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