Tata Value Homes, a 100% subsidiary of Tata Housing Development Company has raised $25 million through CDC, UK’s Development Finance Institution (DFI). CDC, wholly owned by the UK Government, will join the affordable housing platform created by Tata Value Homes and IFC to develop affordable housing projects across the country.
Founded in 1948, CDC is the UK’s Development Finance Institution (DFI) wholly owned by the UK Government. Its mission is to support the building of businesses throughout Africa and South Asia to create jobs and make a lasting difference to people living in some of the world’s poorest places.The world’s oldest DFI, it has a long history of making successful investments in businesses that have had a positive impact on the private sector in their country and region and improved the lives of many, many individuals.
Announcing this development, Brotin Banerjee, MD & CEO, Tata Housing, said, “We are extremely happy to partner with CDC for the affordable housing platform created last year. Investment from CDC will help us further our commitment towards delivering quality living spaces to low and middle income groups in the country.”
Srini Nagarajan from CDC said, “We’ve made this investment because affordable housing in India is highly developmental sector because it creates a high number of construction jobs per dollar invested, and will increase access to housing for India’s emerging middle class. . We’re delighted to be partnering with Tata Value Homes, because of their prioritisation of quality above all else, and their strong focus on innovation and sustainable development.”
In the past year, we have delivered over 3000 homes across various projects in the country. It is our endeavour to take the concept of affordable and sustainable townships far and wide in India to provide quality living to all income groups.
About Tata Housing
Established in 1984, Tata Housing is a closely held public limited company and a subsidiary of TATA Sons Limited. TATA Sons Limited holds 99.86% of equity share capital of the company.
Since its revival in 2006, the company has grown exponentially establishing itself as the fastest growing real estate developers in India with 70 million sq. under various stages of planning and execution and an additional 19 million sq. feet in the pipeline. Tata Housing has stood out in the industry with quality construction, ethical and transparent business practices, rapidly acquiring an image as a Quality Conscious and Reliable Developer.
Today, Tata Housing is developing large townships and differentiated theme based projects in major and mini metros. As a comprehensive real estate developer of choice, Tata Housing straddles across all consumer segments from value to luxury housing, by offering products ranging from Rs. 12 lakhs to Rs. 14 crores. All projects developed by Tata Housing are certified sustainable green developments, designed by top internationally renowned architects. With strength of over 700 employees, and presence in Mumbai, Lonavala, Talegaon, Pune, Ahmedabad Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar; the company is now in the process of expanding its footprints to other parts of India across tier I and II cities. The company has also ventured into foreign markets such as Maldives and is actively exploring other markets including Sri Lanka and other South Asian countries.
Tata Housing has been receiving various industry recognitions and accolades, both on domestic and international platforms.
SOURCE: magicbricks.com
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