October 11, 2010

Tata Housing Development Company announces aggressive growth plans

  • Announces a wholly-owned subsidiary — Smart Value Homes
  • Unveils a new and enhanced Shubh Griha at Vasind in Mumbai
  • Plans to invest over Rs2,500 crore in the affordable and value homes segment by 2011
Mumbai: Flooded with extensive consumer demand and an overwhelming response to the Shubh Griha at Boisar, Tata Housing Development Company (Tata Housing) today announced the launch of a new and enhanced Shubh Griha at Vasind under Smart Value Homes. The new business entity will focus on providing value and affordable housing to consumers in the price range of Rs5 lakh to Rs35 lakh. 
The new and enhanced Shubh Griha at Vasind will provide additional features, better designs, elevations and extra space to the consumers and consist of 1RK and 1BHK apartments priced between Rs5.79 lakh and Rs7.82 lakh. Conveniently located at 1.5km from Vasind railway station on the Central line, Shubh Griha is in close proximity to Shahapur and Kaylan / Bhiwandi junction and has direct access to the Mumbai-Nasik highway (NH3). Nestled in the beautiful hills of Vasind and spread across 52 acres, Shubh Griha will follow an integrated township approach and is conceptualised by Tata Housing with a vision to create a positive ecosystem for the neighbourhood and the community.
Announcing the launch of Shubh Griha at Vasind, Brotin Banerjee, managing director and chief executive officer, Tata Housing, said, “Following the success of Shubh Griha at Boisar and coupled with an extensive consumer demand, we have incorporated a few changes in our newly-launched Shubh Griha at Vasind. We are confident that consumers will be extremely delighted with the additional features. We are extremely proud to announce Smart Value Homes — a wholly-owned subsidiary of Tata Housing that will focus on the affordable and value housing projects. With this being a very important part of Tata Housing’s growth strategy, we plan to invest over Rs2,500 crore by 2011 in value and affordable housing projects across the tier I and tier II cities in India.”
Following the integrated township approach, Shubh Griha at Vasind will offer facilities such an elevator, fully-equipped gym, large community centre, playground, green landscaped seating area, jogging track, benches and pathways for pleasure walks, beautiful landscaped gardens, ample parking area, rainwater harvesting, school, healthcare centre, convenience stores, retail spaces, etc.
Shubh Griha moves beyond merely providing a home, with its concept of the ‘neighbourhood and community,’ giving its customers a sense of place and community life. Shubh Griha offers an unparalleled range of amenities and experiences such as a balanced mix of buildings and open spaces, best quality lighting and ventilation for all apartments, large, centralised and accessible open spaces, recreational facilities, a hospital, school and a community hall amongst others.
Shubh Griha is a cost-efficient, quality product that has been developed post in-depth research and understanding of the consumer needs. Research has revealed that India today faces a total shortage of 26 million dwelling units, with more than 70 per cent of this shortage in the middle and low income groups. Shubh Griha is well placed to address these identified needs. The second township of the nationwide project will be developed in Vasind, with plans to expand into other Tier I and Tier II markets in the country. With a balanced mix of buildings and open spaces, these projects will be constructed under the guidance of Indian Green Building Council.
The product mix
Type Unit SBUA — Unit Size (sq ft)
Value Homes 1 Room Kitchen 362
Value Homes 1 Bedroom, Hall and Kitchen 489

The pricing

Tata Housing offers homes at Shubh Griha, Vasind, starting from Rs5.79 lakh to Rs7.82 lakh.
For enquiries:
Toll free number: 1800 266 6666 or visit http://www.shubhgriha.com/ Or SMS SG to 5616133
The booking process
Applicants can purchase the application form booklet at Rs300 across 18 IDBI branches in Mumbai and Thane. After purchase of the application form booklet, bookings should be made in the next 15 days along with the initial booking amount of Rs25,000 through bank pay order at selected branches of IDBI Bank across Mumbai. The first list and the waiting list will be declared after 30 days of the final booking after a thorough scrutiny of the submitted application form booklets. The allotted would be sent allotment letters from Tata Housing along with the payment schedule. Details of other requirements have been provided in the application form booklet itself.

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