Housing Development Company Ltd has forayed into the emerging affordable housing segment by announcing a new project under a national brand called New Haven.
This follows Tata Housing’s entry into the low cost housing segment through its national brand Shubh Griha earlier this year.
The maiden project under New Haven is coming up at Boisar, 120 kms away from Mumbai on the same plot of land where the company is developing the Shubh Griha low cost homes for factory workers.
Tata’s affordable housing project is targeted at medium income groups and a two-bedroom hall kitchen (BHK) flat with a size of 670 sq ft is priced at Rs 12.73 lakh.
A three BHK flat with a size of 1380 sq ft is priced at Rs 26.22 lakh. The company is planning to build 1300 apartments in this segment.
Every home is set in a well-finished modern building with attractive green streetscapes and lush landscapes. “This is the first flagship project at Boisar and followed by this launch, New Haven will set up a pan India presence across Tier I and II cities in India,” said Brotin Banerjee, Managing Director and CEO, Tata Housing.
He said with the launch of New Haven, the company has now turned into a comprehensive real estate developer catering to all segments of housing needs from low cost and affordable, to premium and luxury.
The affordable housing project at Boisar spread over 35 acres land will follow the integrated township approach and will have sufficiently large centralized and accessible open space and other modern amenities.