Tata Group to launch its Shubh Griha low-cost housing project overseas

The Tata Group has plans to launch worldwide its low-cost housing project, which began with the integrated township being built Boisar, a suburb of Mumbai.

According to Ratan Tata, chairman of Tata Sons, the company will set up similar housing projects in other centres in India such as Bangalore, Kolkata, and Assam.  Read more about the Tata Shubh Griha low cost housing project in this story.

The company’s affordable housing project launched in Boisar has attracted interest from all parts of the country, Ratan Tata said in Munnar in Kerala. He was in Munnar to attend the silver jubilee celebrations of the High Range School in Munnar, run by the Tata Group.

The Tata Housing Development Company Limited, which started the ‘Shubh Griha’ project in Boisar, near Mumbai, is offering what the company calls ‘Smart, Value Homes’ to people across India, to start with.

The Tata Group, the first corporate entity to have entered the low-cost housing sector, says it will spread its presence across India – in Tier I cities and Tier II cities.

The ‘Smart, Value Homes’ from ‘Shubh Griha’ in Boisar are priced between Rs 3.9 lakh and Rs 6.7 lakh.

Ratan Tata said that Maldives has expressed interest in the company’s housing project and has invited the Tata Group to introduce the concept in Maldives.

According to him, the consumption of steel in developed countries such as Europe and the United States is expected to reach the pre-recession levels in the next 2 years. The good news at present, he added, is that the market has stabilized, with no sudden drop or cancellation of orders.

Ratan Tata said that a team from Land Rover and Jaguar had visited India in search of components they can source from the country. So far, no decision has been taken on this.

Tata Motors, he disclosed, is planning to adapt the Nano car for the European market. However, it will take at least 2 years for the company to meet all regulatory requirements before the launch in Europe.

The new high-speed, high-horse-power truck that Tata Motors has launched will be marketed worldwide – among the countries would be Malaysia, Indonesia, South Africa, as well as the countries in the Middle East. At present, these trucks are exported to South Korea, according to Ratan Tata.

When asked whether the Tata Group will cut the salaries of its top executives, Ratan Tata said the Group has already taken steps to cut costs as well as avoid wastage.