Tata Housing to invest up to Rs 800 cr for expansion in FY18
Tata Housing is planning to add 8-10 projects to its portfolio in 2017-18 involving an investment of up to Rs 800 crore, a top company official said.
According to Tata Housing Managing Director and CEO Brotin Banerjee, They will be a combination of Greenfield and Brownfield projects.
He added, the implementation of Real Estate (Regulation and Development) Act (RERA) and GST is likely to spur consolidation in the sector, which presents an opportunity for Tata Housing to expand its portfolio. He further added there is already a slowdown in the sector and now with the addition of new regulations of RERA and GST, those with access to very large land banks or projects and not in a position to sustain in future are looking at consolidating. We see this as an opportunity for expanding our portfolio.
Banerjee also added. the company wants to expand its portfolio substantially and is looking at three routes -- joint venture, joint development and outright buyout of assets. Out of these 8-10 projects, around 3-4 would be under its affordable housing division Tata Value Homes.
The company is looking at cities like Mumbai, Delhi, Pune, Hyderabad, among others, for expansion.
He added, the implementation of Real Estate (Regulation and Development) Act (RERA) and GST is likely to spur consolidation in the sector, which presents an opportunity for Tata Housing to expand its portfolio. He further added there is already a slowdown in the sector and now with the addition of new regulations of RERA and GST, those with access to very large land banks or projects and not in a position to sustain in future are looking at consolidating. We see this as an opportunity for expanding our portfolio.
Banerjee also added. the company wants to expand its portfolio substantially and is looking at three routes -- joint venture, joint development and outright buyout of assets. Out of these 8-10 projects, around 3-4 would be under its affordable housing division Tata Value Homes.
The company is looking at cities like Mumbai, Delhi, Pune, Hyderabad, among others, for expansion.
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