Tata targets to develop 100 million sq ft by 2017

Tata Housing Development Company has set a target to develop about 100 million sq ft in cities by 2017. About 55-60 million sq ft, at present, are under various stages of planning and execution, said Brotin Banerjee, Managing Director and Chief Executive Officer, Tata Housing. The company has taken up housing projects in cities like Delhi NCR, Bangalore, Bhubaneswar, Chennai, Chandigarh, Kolkata, Pune, Ahmedabad.

Banerjee was in Bhubaneswar to attend the ground–breaking ceremony of its newly launched project 'Ariana', an integrated residential complex. The realty major is also exploring opportunities to start affordable housing projects in eastern India under Smart Value Homes Ltd (SVHL), a 100 per cent subsidiary of the company.

SVHL was launched in 2010 to exclusively cater to the demand for low-cost and affordable housing. The company is ready to start projects under Smart Value Homes in Jharkhand, West Bengal, Odisha spread over 50 – 60 acres of land on city outskirts having good public transport connectivity, he added. Presently, about 20,000 housing units are under construction under the banner of Smart Value Homes.

The company, which has already ventured into foreign market with a housing project in Maldives, intends to develop properties in Sri Lanka and other South Asian countries.