Tata Housing to develop affordable houses overseas

MUMBAI: Tata Housing Development Company on Thursday said that it has received proposals from Governments of Sri Lanka, the Maldives and Nepal to

build integrated cities with affordable housing.

"We have received invitations from many overseas governments to build townships with affordable housing. The governments of Sri Lanka, the Maldives and Nepal have invited us to start a same model of townships we have made in Boisar, near Mumbai," Tata Housing Development Managing Director and CEO Brotin Banerjee told reporters here.

The property development arm of Tata Group is currently developing affordable housing projects for middle income group (New Haven) and low income group (Shubh Griha) in Boisar.

The company also plans to start similar projects (affordable housing) in different metros and Tier II cities and is currently on the look out for land and partners, he said.

"We are looking for land with clear title and are ready to join hands with local partners like landlords or property developers," Banerjee said.

"If we get land, we are ready to start as many projects in this fiscal itself," he said.

So far, the company has invested above Rs 60 crore in its affordable housing projects in Boisar, he said.

Also, the company is planning to handover the houses sold under the Shubh Griha project to the owners by the end-fiscal, he said.

"The houses will be handed over to the owners by March 2010," Banerjee said.