Tata Housing Development Company Ltd plans to invest nearly Rs 10,000 crore in developing another 40 million sq ft of housing across India in the next three years. This includes the company's plans to invest nearly Rs 3,500 crore in low-cost and affordable housing.
The company, which signed an MoU with the Gujarat Government during the Vibrant Gujarat Global Investors' Summit in January 2011, will invest Rs 1,000 crore to develop two integrated townships. Work on both the projects is expected to start in the next three to four months and it will be executed by Small Value Housing Ltd, a 100 per cent subsidiary of Tata housing launched in 2010.Both the projects in Gujarat will have a mix of value and affordable housing. They will be based on Tata Housing's existing projects at Bhoisar and Vasind near Mumbai,
Each of the integrated townships in Ahmedabad will have a total of 4,000 units: while the value homes will be in the price range of Rs 5 lakh-10 lakh, affordable housing units will have the price tag of Rs 10 lakh-25 lakh. Tata Housing is in talks with the State Government and expects to acquire around 10. Apart from the Ahmedabad projects, Tata Housing will invest another Rs 2,500 crore on affordable housing in other States.
By 2012-13, it plans to develop 40 million sq ft of land in the country. Of this, 20 million sq ft will be developed by Smart Value across tier I and II cities such as Pune and Talegaon.Another 20 million sq ft of premium high-end projects in major metros such as Chennai and Mumbai and tier-I cities will be developed by Tata Housing.The company is currently developing about 20 projects across the country.crackcrack
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