TATA Housing makes foray into affordable housing
- Nilima Phatak, Freelance Writer (New Delhi)
Having drawn the global spotlight with the launch of the world’s cheapest car (the Nano is priced just over $2,000). India’s Tata Group knows a thing or two about making things affordable. The same operational gameplan in now being adopted for its real estate exposure. Tata Housing Development Co. is putting its mite behind Shubh Griha, an integrated housing estate where one-bed-room units are priced between Rs.390,000 and Rs.670,000 It is located in Boisar, about 100 kilometers from Mumbai. These are rates that leading developers would not have given a fleet thought to in the past. But Tata seems to have hit the right notes with its new project – on the first two days of bookings opening last month, over 3,500 applications were sold. This being more than three times the number of apartments being built for the project, allotments will be done through a lottery.
In all, 1,240 units will be built on the 67-acre township, and will be available in three configurations – 283, 360, 465 square feet.
Mortgage options
Tata – which is expecting a turnover of Rs. 1 billion from the development – has partnered Micro Housing Finance Corporation (MHFC), State bank of India (SBI) and Housing Development Finance Corporation (HDFC) to help buyers with financing options. The application forms have been sold at Rs. 200 and the initial booking amount is Rs. 10,000. “The MHFC loans will be long-term micro-mortgages for need-based housing, we intend being flexible in our documentation and the interest rates charged will be affordable,” states Brotin Banerjee, Tata Housing’s Managing Director and CEO.
“Our policy is different – we are not for profit.”
Low-cost venture
“All this is in continuation of the group’s commitment towards quality living for the masses. We observed that since most people in the low-income bracket live away from their families in order to earn a livelihood in the big cities, there is a large migrant population living in rented.”
Tata’s feasibility studies show that about 48 per cent in the low-income segment currently stay in rented places. The low-cost housing venture is thus seen by the developer as a means to empower this section of the society by providing the opportunity to own a house in Mumbai.
It will be followed by similar constructions across Tier 1 and Tier 2 cities, with Delhi-NCR and Bangalore on top of the list.
The Shubh Griha Project
The Shubh Griha project to be delivered in two years, will have one-bedroom units priced between Rs. 390,000 and Rs.670,000. The dwellings will be built under the guidance of the Indian Green Building Council. Official statistics show that India faces a shortage of 24.7 million dwelling units, with more than 70 per cent of this among the middle and low-income groups. But actual shortages could be much more. Mortgage penetration is still only about 7 per cent of India’s GDP which is considerably lower than the 10 to 50 per cent recorded in other Asian countries and 80 per cent in the US.
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Hi there I like your post
I am interested in buying shops and flats in your Tata Housing project at Boisar, Palghar. Request you to please assist me with the details of the same.
Thank you for showing interest in our property. Shubh Griha at Boisar is sold out completely. We would like to offer you to consider ‘New Haven’, Mumbai. Request you to be in touch with our Sales Team on + 91 22 66614500 and also do visit our corporate website http://www.tatahousing.in, for more details.
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Hi there I like your post
I would like to buy a 3BHK in one of the TATA Housing projects in Mumbai or near Mumbai/ Navi Mumbai. Since I am out of the country now, appreciate if you could reply vial mail and advise about the options available.
As per your requirement, we would like to offer you to consider ‘New Haven’, Mumbai wherein we have two options in 3BHK apartments category. Would advise you to kindly visit http://www.newhaven.co.in for details on the product profile and specifications. May we also suggest that you may also be in touch with our Sales Team on + 91 22 66614500 and also do visit our corporate website http://www.tatahousing.in, for upcomming properties by TATA Housing.
Interested in 1bhk flats of TATA Housing in Boisar. Please reply with the total cost for the same.
All the flats allotted at Shubh Griha were through a lottery system. Shubh Griha at Boisar is sold out completely. However, we have our Affordable Housing brand ‘New Haven’, Boisar (part of the same township), that has apartments available at this point in time. Request you to contact our Sales team on + 91 22 66614500 for further details and also do visit our corporate website http://www.tatahousing.in, for upcomming properties by TATA Housing.
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When will TATA Housing’s project start in Patna I am intrested in purchasing a 2 or 3 BHK.
We shall communicate the subsequent launches of our new projects as soon as we finalise the plans for the same. However, we would request you to be in touch with our Sales Team on + 91 22 66614500 and also do visit our corporate website http://www.tatahousing.in for upcomming properties by TATA Housing.
Do you have any plans in Bangalore?
We shall communicate the subsequent launches of our new projects as soon as we finalise the plans for the same. However, we would request you to be in touch with our Sales Team on + 91 22 66614500 and also do visit our corporate website http://www.tatahousing.in, for upcomming properties by TATA Housing.
Visiting your Blog today. Thanks for this information. Pleased to meet you.
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Now I know why so many people enjoy this site, nice contribution. Thanks
As per your requirement, we would like to offer you to consider ‘New Haven’, Mumbai. We have a premium property in Gurgaon ‘Raisina residency’, which has 3 and 4 BHK apartments. We shall communicate the subsequent launches of our new projects when we finalise the plans for the same. However, we would request you to be in touch with our Sales Team on + 91 22 66614500 and also do visit our corporate website http://www.tatahousing.in, for upcomming properties by TATA Housing.
Shubh Griha at Boisar is sold out completely. However, we have our Affordable Housing brand ‘New Haven’, Boisar (part of the same township), that has apartments available at this point in time. Request you to contact our Sales team on + 91 22 66614500 for further details.
I am waiting for the Shubh Griha project in Bengaluru. When would you be launching in this city?
At this point in time we have launched Shubh Griha only in Mumbai at Boisar. We shall communicate the subsequent launches for Shubh Griha when we finalise the plans for the same. However, we would request you to be in touch with our Sales Team and also do visit our corporate website http://www.tatahousing.in, for upcomming properties by TATA Housing.
I am interested in booking a flat at your residential project in Boisar. Please provide me with the contact details.
Shubh Griha at Boisar is sold out completely. However, we have our Affordable Housing brand ‘New Haven’, Boisar (part of the same township), that has apartments available at this point in time. Request you to contact our Sales team on + 91 22 66614500 for further details.
Please do inform when u open bookings for the Commercial shops at Boisar.
I am keen on purchasing a property at TATA Housing’s project at Boisar. However, I have the following queries:
1) Does the land fall under municipal limit or grampanchayat limit?
2) What about basic amenities i.e. water supply, will we get municipal water connection or else?
3) Are there two Affordable Housing projects by TATA Housing i.e. New Havens & Shubh Griha or are both the same projects name?
Thank you for showing interest in TATA Housing’s properties. In response to your questions, ‘Shubh Griha’ is our Value Homes project while ‘New Haven’ is our Affordable Housing project. These projects form two different parts of and are located within a Sustainable Integrated Green Township at Boisar. For further queries, we would request you to kindly contact our Sales Team on +91 22 66614500.
Hello Team,
Is there similar kind of project coming in bangalore and by when?
Thank you for showing interest in our properties. At present we have a premium housing project in Bengaluru called ‘Aquila Heights’. We shall keep you informed when we launch any more projects in Bengaluru. Just in case you require further details on our projects, you may log on to http://www.tatahousing.com or contact our Sales Team on +91 22 66614500.
I am always looking for brandnew blogposts in the internet about this issue. Thanx!
I am interested in purchasing a low income house from Tata Housing in Delhi/NCR.
Thank you for showing interest in our properties. At present we have a premium housing project in Gurgaon called ‘Raisina Residency’. We shall keep you informed when we launch our low cost housing project in Delhi. Just in case you require further details on our projects, you may log on to http://www.tatahousing.com or contact our Sales Team on +91 22 66614500.
I want to be a part if there is any prjoject in delhi in the near future.
Dear Sirs,
I respect TATA for this noble deed of providing home for Middle and Lower class people who are often ignored. Is there any plan to develop Subhgriha homes near Chennai?
We plan to replicat the Shubh Griha model that we launched in Mumbai, in Tier I and II cities across India. We shall be announcing the same shortly.
I would like to know know about your new project at Boisar and how do I go about applying for the same.
I’m a defence personal posted at Kanpur. I would like to request you to kindly consider some projects for defence personal or atleast consider some flats for defence personal. In this costly world it is very difficult for a defence person to get a decent dwelling unit at his place of choice. Kindly consider these things and I eagerly await your response.
Thank you for showing interest in our project. For booking enquiries you would need to kindly contact our Sales Team on +91 22 66614500 and they would assit you with all the necessary details for our Affordable Housing project ‘New Haven’ at Boisar.
Very glad to see the housing for all.
My humble request to provide a School, College ( A branch of the nearest University – with good atmosphere for learning and teaching) to every Township you develop. A school such as ‘Madam Montessary’ (is located in the village called ‘Eine’ near Dahanu, Ms. Anultai Wagh a well known educationsit has established ‘Grammangal Project’ for learning & teaching in a simple, easy and economical way. Facility for higher education will be added price to your Housing Projects and will increase your reputation and TRUST in your company. Is there any Housing project in Thane?
We thank you for your compliments and appreciate your involvement. Such inputs and feedback on our properties are highly appreciated and help us make TATA Housing Developments a better place for you.
You would be happy to know that we are providing a School as part of the project at Boisar along with other social and physical innfrastructure facilities.
Hi,
Please suggest on how to become an agent for TATA Housing?
Thank you for your interest in our properties. You may contact our Sales team on +91 22 66614500 for more details.
When will Tata project start in gurgaon or near by. I am interested in purchasing 3 BHK.
Thank you for showing interest in our properties. We have an ongoing project in Gurgaon – Raisina Residency, offering 3BHK and 4BHK apatments where life’s luxuries take form of Art and Culture with unhindered views of the Aravali Hills. We would be introducing another project in the NCR region in the near future. Request you to kindly contact our Sales Team on +91 22 66614500 for more information in reference to our projects. You may also visit our website http://www.tatahousing.com for project related information.
I am interested in buying a 2 or 3 BHK house in Delhi. Kindly provide me the details of the upcoming ventures of TATA Housing in NCR.
Thank you for showing interest in our properties. We have an ongoing project in Gurgaon – Raisina Residency, offering 3BHK and 4BHK apatments where life’s luxuries take form of Art and Culture with unhindered views of the Aravali Hills. We would be introducing another project in the NCR region in the near future. Request you to kindly contact our Sales Team in Mumbai on +91 22 66614500 or in Delhi on +91 11 46004100, for more information in reference to our projects. You may also visit our website http://www.tatahousing.com for project related information.
Hi
I have around 100 acres of land at Khopoli, adjacent to the old Mumbai-Pune highway. I am looking out for buyers or parties who either wants to buy it our or are interested in Joint Development.
The land is NA and proper papers are available for review.
Please let me know, if anybody is interested.
Thank you for writing in to us. We request you to kindly send us a formal request via email to trushaseth@tatahousing.com and the appropriate person from our end shall respond to the same at the earliest.
We are interested in owning a 2/3 BHC accomodation in noida .
Thank you for showing interest in our properties. We have an ongoing project in Gurgaon – Raisina Residency, offering 3BHK and 4BHK apatments where life’s luxuries take form of Art and Culture with unhindered views of the Aravali Hills. We would be introducing another project in the NCR region in the near future. Request you to kindly contact our Sales Team on +91 22 66614500 for more information in reference to our projects. You may also visit our website http://www.tatahousing.com for project related information.
We are interested in owning a 2/3 BHK house near NOIDA or PATNA. Kindly reply.
Thank you for showing interest in our properties. Presently, we do not have any properties in Patna. However, we do have an ongoing project in Gurgaon – Raisina Residency, offering 3BHK and 4BHK apatments where life’s luxuries take form of Art and Culture with unhindered views of the Aravali Hills. We would be introducing another project in the NCR region in the near future. Request you to kindly contact our Sales Team on +91 22 66614500 for more information in reference to our projects. You may also visit our website http://www.tatahousing.com for project related information.
I would like to buy a 3BHK in one of the TATA Housing projects in Mumbai or near Mumbai/ Navi Mumbai. Since I am out of the country now, appreciate if you could reply vial mail and advise about the options available.
Thank you for showing interest in TATA Housing’s properties. Our Sales Team shall contact you at the earliest.
Please keep me posted on your forthcoming low cost housing projects in and around Delhi. I am also interested in learning how you are reducing costs.
We have opened Phase II at Boisar in Mumbai. We shall keep all our readers informed on projects we would be launching across India. If there is any specific query you may have w.r.t the technical aspects of our projects, you may contact us on trushaseth@tatahousing.com.
Very Interesting post! Thank you for such interesting resource!
blog.shubhgriha.com
I am extremely happy to learn about TATA Housing’s Shubh Griha project.
I am working on innovative concepts on project level sanitation. I am a visiting professor at the school of Planning & Amp; Architecture, New Delhi – affiliated to departments of Housing & Amp; Environment Planning. My contribution in the field of Water & Amp; Sanitation can be seen at Googles search under `Water & Amp; Sanitation’.
I believe strongly that I could add tremendous value at the project level Sanitation leading to higher Efficiency, lower Water demand, improved Sanitation and reduced Environmental stress.
I shall be happy to work with TATA Housing on this innovative management of Water and Sanitation at project level.
Thank you for your interest in our project through our Blog. We would be happy to respond to your request. Request you to send us details of the same on trushaseth@tatahousing.com and we shall respond to you at the earliest.
When will TATAs project start in Delhi, NCR (Gurgaon, Noida, Faridabad) ? I am intrested in purchasing a 2 or 3 BHK in order to give my family better home. I hope TATA will fulfill my dream very soon.
We would be launching projects in Delhi very soon. However, if you are interested in purchasing the same in Mumbai, you may get in touch with our Sales Team on + 91 22 66614500 for further details.