Tata Housing announced its plans to launch about 10 new residential projects in both affordable and luxury segments during 2010-2011. The company will invest Rs 1,200 crore for housing projects which will come up in different cities like Chennai, Pune, Mumbai, Kolkata, Ahmedabad and Bangalore. Tatas will acquire about 10 million sq. ft. of land to launch the new projects. While some projects will be developed in joint venture partner others will be standalone projects. The projects will be funded through a mix of internal accruals, debt and sales revenue.
Tata Housing develops residential properties of four different economic categories - ultra luxury (Rs 3-7 crore), premium (Rs 80 lakh-Rs 2.5 crore), affordable (Rs 15-50 lakh) and value homes (sub Rs 10 lakh).
At present, the company is building about 10,000 housing units comprising 18-20 million sq. ft. across the country. Most of the projects are being developed in partnership and about Rs 2,000 crore is being invested for completion of the projects by 2011.
Recently, the company had announced to develop a super luxury hosing project 'Prive' at Lonavala, near Mumbai, offering apartments in a price range of Rs 3-7 crore. In 2009, the company had launched a 1,300-unit low-cost housing project, which offered a room and a kitchen, at Rs 3.9 lakh under 'Shubh Griha' brand at Boisar, Mumbai.