  
Mumbai, 6th May, 2009 In keeping with the TATA Group’s spirit of innovation and creating products that cater to the people at the Bottom of the Pyramid, TATA Housing Development Company Ltd. today unveiled ‘Shubh Griha’, the first of its kind Pan Indian brand that would offer Smart, Value Homes to people across India. ‘Shubh Griha’ would launch its first property in the suburb of Boisar in Mumbai; followed by a pan Indian presence across Ties I and II cities. The Smart Value Homes from Shubh Griha will be priced between Rs. 3.9/- lacs to Rs. 6.7/- lacs. TATA Housing is the first corporate to enter this segment. The integrated township has been conceptualized by TATA Housing with a vision to create a positive ecosystem for the neighborhood and the community. ‘Shubh Griha’ moves beyond merely providing a home with its concept of the ‘Neighborhood and Community’, giving its customers a sense of place and community life. ‘Shubh Griha’ offers 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, centralized and accessible open spaces, recreational facilities, a hospital, school and a community hall amongst others. Announcing the launch of ‘Shubh Griha’, Mr. Brotin Banerjee, Managing Director and Chief Executive Officer of TATA Housing said “This is in continuation of the group’s commitment to providing, quality, innovative products for the common man. We observed that since most of the people in the Low Income bracket live away from their families to earn a livelihood in the big cities, there is a large percentage of migrant population with people living in either rented or company provided accommodation. Our study shows that around 48% 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 a community life, we believe in empowering them and giving them the pride of owing a house in a city like Mumbai. ‘Shubh Griha’ is in line with the Group’s philosophy of contributing and having a positive involvement with the society at large.” Mr. Banerjee further added, “While it is priced at an entry level, the thorough and extensive research and development have enabled us to provide a technically robust solution that offers a complete experience going beyond - just providing a home. ‘Shubh Griha’ and the ‘Neighborhood and Community’ concept will change the conventional residential choices available for this segment of consumers today. With our first project we are launching at Boisar, it is our endeavour to offer our national brand – ‘Shubh Griha’ to cities across the country.” ‘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 24.7 million dwelling units, with more than 70% of this shortage in the Middle and Low Income Groups. ‘Shubh Griha’ is well placed to address these identified needs. The first Township of this nationwide project will be developed in Boisar, with plans to expand into other Tier I and 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 (IGBC). The Neighborhood Experience Demographic and lifestyle changes are creating a demand for more diverse residential formats. TATA Housing has understood that the development of the Neighborhood and Community concept would help in increasing opportunities for community interaction and hence ‘Community Connectedness’, whereby an Integrated Township provides a better lifestyle to its residents. ‘Shubh Griha’, the Value Housing component of this Neighborhood and Community, will offer the following:
The ‘Shubh Griha’ development at Boisar will also feature the following:
The Product Mix
The Pricing TATA Housing offers homes at ‘Shubh Griha’ starting from Rs. 3.9 lacs to Rs. 6.7/- lacs. The Booking Process Applicants can purchase the Application form booklet at Rs. 200/- from SBI branches. After purchase of the Application form booklet, bookings should be made in the next 20 days along with the initial booking amount of Rs. 10,000/- through bank pay order at selected branches of SBI bank across Mumbai. The first list and the waiting list will be declared after 15 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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