Tata Housing Development Company unveiled 'Shubh Griha', first of its kind Pan Indian brand, providing housing with range of amenities like hospital, school, recreational facilities and community hall amongst others.

After the successful launch of world’s least expensive car ‘Nano’, Tata Group, on Wednesday, announced their foray into ‘low cost housing’ providing ‘Value Homes’ for the common man starting at Rs 3.9 lakh.

Tata Housing Development Company unveiled “Shubh Griha”, first of its kind Pan Indian brand, providing housing with range of amenities like hospital, school, recreational facilities and community hall amongst others.

Briefing reporters, Managing Director & CEO Brotin Banerjee said ‘Shubh Griha’ would launch its first property in the suburb of Boisar, Mumbai, followed by a pan Indian presence across Tier I & II cities.

Pointing out that Tata Housing is the first corporate to enter this segment (low cost housing), Banerjee said Value Homes at Boisar is priced between Rs 3.9 lakh to Rs 6.7 lakh.

He said “We are not providing just housing. It is an integrated township providing better lifestyle to residents,” adding they will be selling Value Homes on ‘carpet area’ basis.

The product mix of Value Homes envisages three unit size -1 Room Kitchen (small) of 283 sq.ft, 1 Room kitchen (large) of 350 sq.ft and 1 BHK (bedroom, hall and kitchen) of 465 sq.ft. In the first year, the company has targeted to provide 1,200 homes.

“Depending on the response, we may take up projects in Bangalore, New Delhi and NCR area also,” Banerjee said, adding “our focus is low cost housing, but we may look at middle income group segment later.”

Source: DHNS