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Indian Real Estate News
Tata Housing to Develop Integrated Residential Township Projects Across India and Abroad
Source: Oct 29, 2010
Tata Housing Development Company, a subsidiary of Tata & Sons, is keen to adopt public private partnership (PPP) route to develop integrated residential township projects across the country. While an MoU has already been signed with the Assam government for affordable homes through the PPP route, the company is in talks with a few other state governments. Tata Housing is also planning to adopt this concept for its overseas foray.

"We are very close to signing an agreement, through a third party, with another country. However, we can't disclose the name of that country at this point," Brotin Banerjee, managing director and CEO, Tata Housing told reporters. While speculations are that the project might come up in Sri Lanka, company officials remain tightlipped.

"We are in talks with a few state governments in the country. While the governments will be able to bring in the land and ensure associated resources required for the township, we will use our expertise to plan and implement an integrated project with all basic amenities and facilities," said Banerjee.

According to Banerjee, private developers usually run into issues such as acquisition, conversion and approval leading to project delays. Government comes into the project, it cannot only ensure availability of land with clear title, but also open the opportunity to develop affordable homes for the needy. The state housing boards that were formed for such initiatives have off-late lost their focus, he added.

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