Tata Housing's arm Value Homes launches e commerce platform to sell homes
The company had earlier tied-up with Snapdeal for selling its properties
Oct 14, 2014
Source : The Economic Times
Tata Value Homes


MUMBAI: Tata Value Homes, a 100 per cent subsidiary of Tata Housing, today launched its exclusive e-commerce platform to sell flats and is eyeing up to Rs 1,000 crore revenue by FY2015-16.

"We have witnessed an evolution in the consumer preference over the years for using e-commerce platform for home buying. To cash in on this change in consumer preference, we have decided to launch our exclusive portal that will showcase our value and affordable housing offerings," Tata Housing Managing Director and CEO Brotin Banerjee told PTI here.

Explaining the online home buying model, he said consumers can book their apartments on www.tatavaluehomes.com by paying Rs 30,000.

"We have witnessed a rising demand in the value and affordable housing segment from the middle class and so we plan to focus more on this category of buyers. We are expecting to clock up to Rs 1,000 crore revenue from this business by FY'16," Banerjee said.

Tata Value Homes has so far sold over one million sq ft of residential space, which translated into over 700 units generating over Rs 300 crore worth revenue.

The company has developed properties in cities like Ahmedabad, Bangalore, Mumbai, Pune and Chennai, which range between Rs 29.9 lakh to Rs 59.9 lakh depending on the size of the apartments that range between 1 BHK and 3 BHK.

He said the company will launch three more projects under the affordable housing segment in the next 90-100 days in cities like Mumbai, Delhi and Kolkata which add another 15,000 units.

"These three projects alone would give us visibility of up to Rs 500 crore," Banerjee said, adding, "we will be soon launching a few more in Bangalore, Kolkata and Pune. These are currently at various stages of approvals. Also, we are looking at opportunities for developing projects, be it greenfield or under joint development."

He said the company may invest up to Rs 1,000 crore for new projects.

Explaining the online home buying model, he said the company had earlier tied-up with Snapdeal for selling its properties.

"Based on the in-depth analysis of customers who have booked our value homes online last year, it has been observed that 39 per cent of them did so with an intent to live in them with their families. With the increasing internet penetration, the new platform builds on the vision of being the largest provider of homes," Banerjee said.

He further said the demand was mainly from tier-II cities, including Patna, Chandigarh, Ranchi, Jaipur, Indore, Baroda, Surat, Mangalore, Mysore, Bangalore, Coimbatore, Trichy, Bhubaneswar, Leh among others, and from NRIs who want to invest in these fast growing markets.

Latest Realty News

Will defend against SEBI ban order: DLF
Oct 14, 2014
Realty major DLF Ltd Tuesday said it would defend itself against any adverse findings contained in the order passed against it by market regulator Securities and Exchange Board of India (SEBI)
Builder fined Rs 5 lakhs for deficient services
Oct 14, 2014
A builder has been fined Rs 5 lakh by a consumer forum for providing deficient services to a housing society
Flipkart’s big realty deal in Bangalore proves aggressive hiring here to stay in e-commerce
Oct 14, 2014
Even as residential real estate is down in the dumps despite the festive season, the office space has seen an uptake across India as corporates look to relocate and consolidate operations
China's realty moguls see 5% drop in fortune
Oct 14, 2014
This year's average fortune of top 50 Chinese real estate tycoons was 14.9 billion yuan ($2.4 billion), 5 percent lower than that in 2013, Beijing Morning Post reported
BDA staff expense under IT scanner
Oct 14, 2014
The Income Tax (IT) department has asked the development authority to submit names of its employees who have invested more than Rs 5 lakh between 2010-11 and 2013-14
New home launches rose 30% in March quarter: Assocham
Oct 14, 2014
Launches of new homes rose by 30 per cent during January-March period of 2014 in anticipation of recovery in the property market
JLL to release white paper on Hyderabad real estate
Oct 14, 2014
Real Estate market consultant JLL will release a white paper on the growth opportunities in the Hyderabad real estate market, later this week
High inventories force realty price slump in big cities
Oct 14, 2014
A vibrant festive season notwithstanding, things are hardly looking up for the real estate sector
Government extends concessions to realty sector
Oct 14, 2014
The Telangana government issued orders offering concessions to real estate sector
Bangalore honchos on property-buying spree in the US
Oct 14, 2014
The investments by Indians (those with Indian passports) in residential property in the United States rose by nearly 50% to $5.8 billion

Latest Realty News Of State

Realty Talk's