|TATA Housing to provide ‘Value Homes’ for the common man
May 05, 2009
Announces ‘Shubh Griha’ project for every family in the country
Creates a new benchmark in Low Cost Housing with ‘Value Homes’ starting at Rs 3.9/- lakhs
The first Integrated Township to be launched in the suburb of Boisar, in Maharashtra
Mumbai, 6th May, 2009: In keeping with the TATA Group’s spirit of innovation and creating products that cater to the people at the Bottom of the Pyramid, TATA Housing Development Company Ltd. today unveiled ‘Shubh Griha’, the first of its kind Pan Indian brand that would offer Smart, Value Homes to people across India. ‘Shubh Griha’ would launch its first property in the suburb of Boisar in Mumbai; followed by a pan Indian presence across Ties I and II cities. The Smart Value Homes from Shubh Griha will be priced between Rs. 3.9/- lacs to Rs. 6.7/- lacs. TATA Housing is the first corporate to enter this segment.
The integrated township has been conceptualized by TATA Housing with a vision to create a positive ecosystem for the neighborhood and the community. ‘Shubh Griha’ moves beyond merely providing a home with its concept of the ‘Neighborhood and Community,’ giving its customers a sense of place and community life. ‘Shubh Griha’ offers unparalleled range of amenities and experiences such as a balanced mix of buildings and open spaces, best quality lighting and ventilation for all apartments, large, centralized and accessible open spaces, recreational facilities, a hospital, school and a community hall amongst others.
Announcing the launch of ‘Shubh Griha’, Mr. Brotin Banerjee, Managing Director and Chief Executive Officer of TATA Housing said “This is in continuation of the group’s commitment to providing, quality, innovative products for the common man. 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 with people living in either rented or company provided accommodation. Our study shows that around 48% 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 a community life, we believe in empowering them and giving them the pride of owing a house in a city like Mumbai. ‘Shubh Griha’ is in line with the Group’s philosophy of contributing and having a positive involvement with the society at large.”
Mr. Banerjee further added, “While it is priced at an entry level, the thorough and extensive research and development have enabled us to provide a technically robust solution that offers a complete experience going beyond - just providing a home. ‘Shubh Griha’ and the ‘Neighborhood and Community’ concept will change the conventional residential choices available for this segment of consumers today. With our first project we are launching at Boisar, it is our endeavour to offer our national brand – ‘Shubh Griha’ to cities across the country.”
‘Shubh Griha’ is a cost efficient, quality product that has been developed post in-depth research and understanding of the consumer needs. Research has revealed that India today faces a total shortage of 24.7 million dwelling units, with more than 70% of this shortage in the Middle and Low Income Groups. ‘Shubh Griha’ is well placed to address these identified needs. The first Township of this nationwide project will be developed in Boisar, with plans to expand into other Tier I and II markets in the country. With a Balanced mix of buildings and open spaces, these projects will be constructed under the guidance of Indian Green Building Council (IGBC).
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