Tata Housing Development Co. announced that it would set up ‘Subh Grah’ projects in about four cities that comprises Chennai, Bangalore, Ahmedabad and Mumbai during the existing financial year to meet up the low-cost housing requirements of individuals.

The Tata Group company is also eyeing to make entry in the global markets via the public-private partnership (PPP) model.

Tata Housing Managing Director and CEO Brotin Banerjee stated, “So far, we have developed three affordable housing projects that have been successful. In 2011-12, we will be doing four such new projects. There is huge demand for low cost housing, particularly in metros and State capitals, which we can meet in partnership with the government. If the government provides us land, we can deliver smart-value homes and low-cost projects to meet housing needs of people.”

Tata Housing, which also introduced the luxury housing project Primanti in Gurgaon, including 1,100 units, stated that during 2011-12, it would make an investment of Rs. 1,000 crore towards formulating land bank and another Rs
2,000 crore towards construction.

“Last year, we did around 9,000 homes while this fiscal we plan to double this. We will launch 8-10 new projects this year…we are also looking at two new lines of business related to land development,” he said.

Especially, Tata Housing is developing at more than 100% CAGR (compound annual growth rate) for the last three years.

Referring to the real estate company’s projected worldwide foray, Mr. Banerjee said, “We are looking for partners to enter into two countries in the SAARC region through the PPP model. Our focus will be affordable housing projects to meet shortage of housing.”

Monic Anan