DELHI: Tata Housing today said it has sold 250 flats worth about Rs 100 crore in five housing projects during its four-day online campaign, despite a slowdown in the property market.
Tata Housing's subsidiary Tata Value Homes had offered 200 apartments in 5 projects at Pune, Bangalore, Ahmedabad and Chennai through 'National Home Buying Day' campaign during February 21-24.
In a statement, the company said the offer was oversubscribed 4 times with over 800 applications for the allocated 200 units across 5 projects. Seeing the response, the company offered 50 more units in this offer.
In the campaign, Tata Housing offered homes at its launch price, assuring the consumer upto 33 per cent appreciation.
"Out of the over 250 apartments that were sold, around 20 percent were bought by NRI's and rest from Indians across various parts of the country," Tata Value Homes Head Marketing Pawan Sarda said.
A company official said the total value of the sale bookings was about Rs 100 crore.
Review of the controls over the process for selection of applicants to whom flats were allotted was carried out by KPMG yesterday.
The success of this campaign has strengthened the company's belief accessibility, convenience and reach of the internet makes it an ideal medium to accomplish the vision of being the largest home provider of quality homes to consumers, he added.
Tata Housing had sold more than 50 homes online with sales totaling more than Rs 25 crore in just 4 days at Google Online Shopping Festival.
Tata Value Homes Ltd was set up to exclusively focus on value and affordable housing. Tata Housing is a closely held public limited company and a subsidiary of Tata Sons Ltd. Tata Sons Ltd holds 99.86 per cent stake in the company.