The Indian Real Estate sector has been the engine of the nation’s growth. It is the second largest employer next only to agriculture close to US $ 12 billion with a growth rate of approx. 30% p.a. having significant linkages with several other sectors of the economy and over 250 associated industries.

The Housing sector contributes to 5% of the Indian GDP and is likely to increase to 6% over the next 5 years. Currently India faces a demand supply imbalance which is likely to worsen in the near future. The total shortage of dwelling units in India at the beginning of the Eleventh Plan period in 2007 was 24.7 million. It is estimated that more than 70% of the shortage of dwelling units are for Middle and Low Income brackets, in fact more so for the later. We at TATA Housing found that the shortage of homes is likely to be the backbone of opportunity in the Indian Housing sector.

In line with our Group ethos of improving the quality of life of the communities we serve, we at TATA Housing have always provided a sustainable environment and a lifestyle to our customers. We observed that since most of the people in the Low Income bracket live away from their families to earn a livelihood in the city of dreams, 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. It is our mission to provide this segment with their own home along with a community life which is part of a sustainable integrated development – A Township which will have amenities along with a home. We would like to empower people and give them the pride of owning a house in a metro like Mumbai. This is in line with the Group philosophy of contributing and having a positive involvement with the society at large.

TATA Housing has provided products and services to the Housing Industry since 1984 and has always been committed to giving better products to its customers in all its projects. Mr. Brotin Banerjee said, “At TATA Housing we focus a lot on Planning and Executing Innovative Solutions and not the typical run-of-the-mill Housing. All our products are the result of in-depth understanding of the diligent Consumer and Market Research and each one of them is uniquely differentiated from the Competition. Our focus on our customer requirements, understanding their stated-unstated needs and then designing a unique solution has helped us. This enables us in providing cost efficient durable products that can meet the needs of all our customers. We have diversified through different geographies. For us at TATA Housing, quality of the product and delivery are very important aspect of success. We will be launching projects in Tier I, Tier II and other cities. Finally we see this as an opportunity for the customers to pick the best product that’s available in the market.

With an eye on this aspect, we at TATA Housing have identified providing Value Homes to the common man as a major growth driver for our Real Estate plans.