TATA Housing Development enters into Redevelopment of Old Buildings, Mumbai

TATA Housing Development, a subsidiary of Tata Group is entering into its home market in Mumbai by taking up project of redeveloping of old building complexes. The developer has started operations pan India which has been restricted to building townships and residential complexes adjoining the Greater Mumbai.

Brotin Banerjee, Managing Director & CEO, TATA Housing Development said, “we expect to start doing the premium housing project of redevelopment of the societies in the western suburbs of Mumbai such as Andheri and Bandra. However, in such redevelopment projects societies normally they call for bids, which make it quite competitive. This was told to Financial Chronicle.

The company hopes that its reputation for ethical behavior would get preference even if its bid is lower than others as these societies have had bad experience when dealt with lesser known realtors.” Unlike certain other developers we cannot cut corners or engage in illegal activities as these would violate the TATA code of conduct”, so it would be safer for the societies to go with developers who don’t bend rules and give a better quality housing product said Banerjee.

“These projects would help us ensure that premium development brings in around 60 per cent of our revenues this year even though they will constitute only around 40 per cent of the number of units being constructed,” said Banerjee. The company currently has 45-50 million square feet of area under development. This is split across value and premium housing respectively and includes around four to five million square feet of commercial and office development.

The company expects the first such development projects to be signed up over the next 6-9 months. “Under the Smart Value Homes and New Haven brands itself we have 15,000 homes under construction,” he added.

By the end of this fiscal year the company hopes to have operations in Kolkata, Mumbai, Pune, Ahmedabad, Khandala, Chennai, Hyderabad, Bangalore, Chandigarh and the National Capital region.

3 thoughts on “TATA Housing Development enters into Redevelopment of Old Buildings, Mumbai

  1. we are living in andher(E) our society plan for
    redevlopment of our society please give me you
    contact no & office address

  2. RESPECTED SIR,
    WE WOULD LIKE TO REDEVELOP OUR BUILDING WHICH IS IN MALAD WEST AND CONSISTS OF 3FLOORS WITH 1 ROOM KITCHEN AND 2 FLATS OF 1BHK RESPECTIVELY ON EACH FLOOR AND A HALL ON THE GROUND FLOOR,SIR I WOULD BE INTERESTED TO KNOW IF YOU WOULD BE INTERESTED IN THE PROJECT SO THAT I CAN FORWARD IT TO THE OTHER MEMBERS AS SOON AS THE MEETING TAKES PLACE KINDLY LET ME KNOW AS SOON AS POOSIBLE ANDALSO WHOM TO CONTACT THANKING U

    E MAIL ID IS gandhiparin@yahoo.com

  3. sir,we plan for redevelopment of our society and we wish to do by ourselves only not by the developers. so we need ur help.

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