Tata Housing Development Co with long term capital investment to develop the 16,800 housing units in next ten years

IFC, which is the member of World Bank Group, has recently entered into the agreement with none other than Tata Value Homes with an aim to invest more than Rs 160 crore or $25 million or housing projects for low-income households in all over the India.

As per agreement, now onwards for affordable housing projects IFC will provide 100 per cent subsidiary to the Tata Housing Development Co with long term capital investment to develop the 16,800 housing units in next ten years, as per the statement of company in press release.

As per the statement of Vipul Prakash, who is the Director for Global Corporate Coverage at IFC, Tata Value Homes is helping the lower as well as middle income groups and young professionals too in urban as well as in semi-urban area to access the quality lifestyle and affordable housing”. The more he added that its first step towards long terms investment plan to facilitate the infrastructural development for affordable housing in India and in other emerging real estate markets too. However; the now onwards the investment for new affordable housing projects will be undertaken by the Tata Value Homes. According to the Brotin Banerjee, CEO and MD of Tata Housing, the partnership with IFC will help the country to cater the demand of affordable housing as in past few years we have delivered more than 5000 flats in the price range of Rs 500,000 to Rs 30 lacs or $ 8,000 to $ 50,000 in all over the India under different residential projects. The patnership will help the company to become the largest home provider in India in terms of value and affordable housing sector by the end of 2018 and 2019.

Whereas; in India the urbanization is increasing due to the high number of nuclear families and rising income level ad lifestyle which are responsible for high demand for housing. As per the recent survey there is need of more than 19 million housing units.

Tata Value Homes was established in 2010 with a single aim to provide best value in affordable housing segment in all over the India and to this they have two well known brands such as; New Haven for best value homes and Shubh Griha for affordable housing. Apart from them some of the other ongoing residential projects are of Tata Value Homes are Shubh Griha at Boisar near Mumbai and Ahmedabad, whereas; New Haven is under development near at Boisar, Bengaluru and Ahmedabad

Tata Housing is about to invest Rs. 600 crore

One of the leading realty firm Tata Housing is planning to invest more than Rs. 600 crore for the development of new residential project at the Bahadurgarh, Haryana.

For this particular residential project Tata Housing has tied up knot with the local real estate developer, who owns about 21.7 acres of land for the development of this project which will contain more than 800 to 1,000 units. As per the statement of Tata Value Homes, which is the subsidiary of Tata Housing, with this deal it has entered in the Delhi and NCR region for affordable housing market by launching the new project at Bahadurgarh, Haryana, where apartments price will start from Rs. 50 lacs.

Apart from that Tata Housing, still hiding the fact that how much they are going to invest in this latest projects, but as per anonymous sources Tata Housing is about to invest Rs. 600 crore. As per the officials company has received all the necessary government and non-government approvals to develop this project, however; it is expected that the construction work will start within one to two months.

Brotin Banerjee, MD and CEO of Tata Housing, stated that this project is in the close proximity for New Delhi and Gurgaon both city and Bahadurgarh has potential to become next corporate hub in terms of value and affordable housing in the NCR region.

Tata Housing is about to become the public limited company however its subsidiary, Tata Sons Ltd which hold more than 99 per cent stake in the realty firm. Currently, Tata Housing has more than 70 million square feet under development which is in various stages from planning to execution with the additional 19 million square feet area which is under pipeline. In present, currently, three projects are underway from Tata Housing.

Selling real estate property online

In the era of internet when things are just click away; there are many traditional businesses which are facing tough competitions from those who have strong presence on internet. In present, real estate websites firms are making a daunting leap into e-commerce business. Snapdeal and Housing.com, both are backed by Japan’s Softbank, and now they are building technology and teams to sell real estate properties online to tap India’s billion-dollar real estate market.

To instill customer trust in high-risk environment, the companies are banking on wealth of data, brand recognition and offline partners. It is just because the lack of a focused realty technology product, which is selling real estate online hadn’t picked up. One of the Mumbai based company has sold 115 apartments online for Tata Value Homes and had generated the gross merchandise value of at Rs 50 crore over five days of period. One of the least website also launched a technology known as ‘Slice View’, which allows users to go through each floor of a building project; hovering over a particular flat shows availability and built-up area.

Business plan of Housing.com and Snapdeal to sale apartments online:

For current year, Housing.com already has 500 builder campaigns in the pipeline. According to Advitiya Sharma, who is co-founder of Housing.com, “Selling houses online isn’t an easy problem to solve”. Snapdeal, also have aggressive plan to sell new real estate projects on its website. The marketplace was the first to sell Tata Value Home projects online, in September. According to Amit Maheshwari, Vice-president at Snapdeal, “We are going very deep into the real estate category after capturing major market share in mobile phones to clothes and jewellery market”.

According to some of the experts, selling real estate property online is a different ball game, whereas; real estate transactions should be handled by the growing number of online real estate sites. The nature and function of consumer products and real estate is different and it is not in the match with Snapdeal’s core competence, said Sunil Wattal, who teaches management information systems at Temple University in the US. However; Amit Maheshwari, said that the differentiator for Snapdeal is its scale. “We will bring much more visibility and customer footfall to real estate developers. That translates into economies of scale and we pass over benefits to our customers.”

As per the Co-founder of Helion Venture Partners and a member on Housing.com’s board, Mr. Ashish Gupta, “Housing takes on some of a broker’s or agent’s responsibility, which is good because most people do not trust brokers or agents and technology can help to break these things.” However, not all realty websites are rushing to sell real estate properties online.”We will empower the customers with expert locality insights and exhaustive listings of properties,” said CommonFloor.com co-founder Sumit Jain.

Tata Housing started five affordable housing projects

Tata Housing Development Company has started its five affordable housing projects, including one in the city, as per the statement of company official. Brotin Banerjee, CEO and Managing Director of Tata Housing Development, said that we are setting up five affordable housing projects in all over the country, including Kolkata city.

For Kolkata city, Tata Housing Development has entered into a development manager model with Square Four Group with a aim to set-up a project on B T Road in the northern part of the metropolis.

As per the development manager model of Kolkata city project, Tata Value Homes, which is a 100 percent subsidiary of Tata Housing, would provide managerial and technical expertise including ground support, whereas; the investment would be by Square Four group which would be Rs 1,800 crore. According to Banerjee, Tata Housing will invest between Rs 2,500 crore to Rs 3,000 crore for building premium and affordable housing projects in the up-coming years.

You buy mobiles, cameras, laptops and even groceries online, so why not buy your dream residential flat on the net? If you were waiting for such a thing to happen, your wait is now over.

Online marketplace Snapdeal and Tata Value Homes, a subsidiary of Tata Housing with focus on affordable housing, recently announced partnership to enable users to buy houses online. As part of the partnership, about 1,000 homes across projects in cities such as Mumbai, Pune, Ahmedabad, Bangalore and Chennai will be put up for sale on Snapdeal. These houses are priced between Rs.18 lakh and Rs.70 lakh and range from 1 BHK to 3 BHK.

The idea was inspired by the fact that as per the reports, one in every two online real estate searches is to buy property and there is a $43 billion market opportunity here, said sources. We started selling homes through our own website last year in December and have already sold over 600 units. This partnership will help us take that to the next level,” Tata Housing Development Company Senior Vice President, Marketing and Sales, A. Harikesh, told a press conference to announce the deal here. Additionally, Tata Value Homes will continue to sell through its own portal as well, he added.

When you take possession of the house, customers buying the house through Snapdeal will get Rs.10,000 a month for a year as an assured rent whether they stay on premise or lease it out as part of the deal. “Details about the project and other things are shared on the website. Registered users can book a unit for Rs.30,000 and then our offline team takes over,” he said. However, the booking amount is not refundable in case the customer does not buy the house. E-commerce story is unfolding in a major way in India and it is predicted that more portals will embrace this idea of promoting realty. “We already have close to 50,000 merchants on our board. I think real estate, as a category, will do well on our platform because people trust our brand. We want to offer our customers the best deals,” Snapdeal co-founder and CEO Kunal Bahl said welcoming the home buyers on to his portal. Harikesh said the company also planned to launch new projects in Kolkata and Delhi-NCR before March 2015, which might also get added to the deal.