Under the banner of Arvind Smart Value Home, Tata Housing is launching affordable houses with one room kitchen in cities in the state.
Now, Tata does a Nano in housing in Gujarat. Developed under the banner of Arvind Smart Value Home, Tata Housing is launching affordable houses in city with one room kitchen (1RK) costing Rs8 lakh, which will be sold on basis of lucky draw.
Though not very far off from the city, the Tata Housing's real estate project, in association with denim maker, Arvind will come up near Santej in Ahmedabad.
In this joint venture, Arvind Ltd's subsidiary, Arvind Real Estate has provided 135 acres of land. In the first phase, Tata Housing has launched 1,090 units spread in 18 acres in which 160 1RK will be constructed, targeting lower income group of the city.
In the township, which is named 'Shubh Griha', the flats are being made at price of around Rs2,700 per square feet. Due to restrictions from environment ministry, as the site is located near Thol lake, a wetland, the company will make low rises, up to four storey buildings.
Of the 1,090 units, the township will have 470 1 BHK flats in price range of Rs10 lakh to Rs10.50 lakh and the 460 1.5 BHK units priced at around Rs12 lakh to Rs12.50 lakh.
"Distance may be a problem but looking at price, it is not that far from city. This township is 8km away from SP Ring Road," said Brotin Banerjee, MD & CEO of Tata Housing.
"With this project, we are foraying in Gujarat for first time. Following the success of affordable houses in Mumbai we are expecting the similar response in Ahmedabad as well," he said.
Avoiding investors, brokers and speculators, Tata Housing has kept draw system for the scheme. "With initial booking amount of Rs25,000, the customer has to submit the application form, costing Rs200 each, before March 15. After that, under lottery or draw system, the houses will be allotted to the customers. This system will keep away the bulk buyers, investors and speculators," he said.
The whole township is spread across 135 acres, out of which 18 acres has been utilized at present, said Banerjee. "We will have houses in the range of Rs8 lakh flats to Rs15 crore villas. In this phase, we have launched flats of 293 sq feet to 457 sq feet and we will deliver all the units in next 24 months to 30 months. In second phase, we will have 2BHK, 3BHK and more with size of 1,000 sq feet to 2,000 sq feet each and this phase will be launched in next six to nine months," he said.
){kind=small}
){kind=small}
){kind=small}
){kind=spacer}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}