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Thursday, May 7, 2009

Tata Housing, a subsidiary of Tata Sons, launches "Shubh Griha", low-budget housing between Rs 3.9 to Rs 6.7 lakh at Boisar — north of Mumbai

(Rs 3.9 to Rs 6.7 lakh + stamp duty)

Bookings open on this Saturday!

2.8 kms from the Boisar railway station this 67 acres, Rs 100 crore township will have 1,000 flats:

Amenities: hospital, school, post office, market, community hall, play garden and open landscaped area

Possession in 2011:

View Tata Housing's Shubha Griha at Boisar in a larger map

After the successful launch of the world's cheapest car ‑ the Nano, the Tata Group launches not so cheap homes!

"ground plus two format"

283 sq ft, 360 sq ft and 465 sq ft, super built up area (SBUA)

Actual carpet area would be 20% to 25% less!

Property rate Rs 1,380 per sq. ft. at Boisar, 98 km from south Mumbai and six stations after Virar on the western line!

Application form for Rs 200!

To know more, please, visit:

1) Tatas bring Nano touch to Mumbai's realty:

In fact, the tiniest flat will be smaller than the free tenements offered to authorised slum dwellers under the Slum Redevelopment Scheme in Mumbai. Each slum family is entitled to a 269 sq ft (carpet area) tenement.

"We are looking at first-time buyers earning a steady Rs 3 lakh to 5 lakh a year. Hordes of people travel daily between Mumbai and Boisar to work and this will be a good opportunity for them to shift to Boisar instead of living in rented accommodation,'' said Brotin Banerjee, MD and CEO of Tata Housing. Read More

2) Booking Process:

Applicants can purchase application form costing Rs 200 from select SBI branches across Mumbai.

The bookings should be made with an initial booking amount of Rs. 10,000 at the bank branches.

The first list and the waiting list will be declared after scrutiny of applications. The allottees would be intimated by Tata Housing along with payment schedule. Read More

3) Booking closes in about two weeks?

When asked how the company would be able to keep costs low, it said their designs were innovative and that it had ‘some trade secrets’.

Also, the Tata Housing group does not entirely own the land that it is building the township on. Here’s the deal: the group has tied up with the land owner and will work on a revenue-sharing model.

The group has struck an alliance with the State Bank of India and the bookings for the first thousand apartments starts on Saturday and closes in about two weeks. After that, there will be an allotment through a lottery system. Read More

4) Shubh Griha in Delhi and Bangalore:

Interestingly, a couple of private builders are already selling homes at similar rates in Boisar.

Mr Banerjee, however, said that the Tata Housing project would receive a better response as it offers better amenities.

He later told ET, “The plan is to later have Shubh Griha projects in Bangalore and Delhi over the next few months.

This will depend on factors like how quickly the land is obtained.” Read More

Dear Ratan Tata, focus on your core businesses!

This news reminded me an articel written by R Jagannathan in DNA Money. It's head line was "Why business houses will shrink".

Read what Mr. Jagannathan says and you will agree with me that Tatas should focus on their core business and let the property buyers live on the mercy of Indian real estate developers! (Comments Policy)

Jagannathan says:
The oncoming recession is the beginning of the end of Indian business houses as we know them. Used as they are to conglomerate thinking, the global meltdown and weak market for equity financing will force them to focus on their core businesses and dump the rest.

In many ways, the Tatas, Birlas, Ambanis and Ruias of the world are T-Rexes. They belong to a bygone era of business and have no place in the future. I don't mean their companies won't exist; just that they can't exist as business groups.

They are still around only because of India's imperfections, where growth has been facilitated by cronyism, corruption, and easy money -- usually somebody else's. No Indian business has grown with its own money beyond a certain size. It is always someone else's money, someone else's risk finance. Read More

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  1. Dear Ravi, I can understand and respect your your PERSONAL views on why TATA shouldn't be in this business. I've been regular reader to your blog and I have seen how nonsense so-called-budget home schemes were glorified here and in media. WHY NOT? If any gaonwala in Pune with money from land deals and backing from local leaders can be builder, why not TATA? Whats wrong? Lets forget about what other daily is saying..RE readers are not new to such nonsense stories by sponsored journalists especially in Pune. I would like your personal views on why any gunda gaonwala should be a builder and why not TATA?.. Thanks a lot for posting this anyways

  2. It's a really good question! Why shouldn't proper corporates join the bandwagon of real estate developers in this country. Some good might actually come out of it. More transparency, standards, etc. just may result.

    Incidentally Tata Housing is a 25 yr. old company. You have no basis to claim that Tata's are entering new businesses and and losing focus from their core business!