Tatas propose low-cost housing in Mumbai - The Financial Express

Tatas propose low-cost housing in Mumbai - The Financial Express

"Our study shows that 48 per cent of the people in the lower segment are currently staying in rented accommodation.

As a real estate company, we are sensitive to the need of providing this segment with their own home along with community life," he said, however, adding that local people would also be eligible to own homes in these projects.
Banerjee said in the Boisar project, a one BHK flat with a total salable area of 465 sq ft would be available at Rs 6.7 lakhs.
Tata Housing would sell 1,200 homes in the low-cost segment and 2,000 units in the affordable housing segment. Value homes would be sold through a lottery for which forms would be available at some select State Bank of India branches from coming Saturday.
Banerjee said Tata Housing has tied-up with HDFC and SBI for financing and is in talks with other lenders as well for this purpose.
The company is also looking for government support to start such projects under the public-private-partnership model, which according to Banerjee, could, in some extent, solve the staggering 24.7 million housing shortage in the country.

Again this proves that the supply of shelter is a basic need and over many decades this market segment has been neglected. moladi has been preparing for this "awakening" more than 20 years ago... http://www.moladi.net/

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