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Indian Real Estate News
Tata Housing expands Smart Value Homes' portfolio
Source: Source: IRIS Feb 29, 2012
Tata Housing Development Co., India's fastest growing pan-India real estate developer with a presence across the consumer pyramid today announced the company's foray into the Gujarat market with the launch of Shubh Griha, Tata Housing's iconic value-housing pan-India brand in Ahmedabad.

The project will be jointly developed with Arvind Real Estate, under the banner of Arvind & Smart Value Homes LLP, a special purpose vehicle (SPV) created to develop a mega integrated sustainable green township, spread across 135 acres.

Shubh Griha, a part of integrated township project, designed by internationally renowned architectural firm HoK of Toronto is planned taking inspiration from the architecture of Gujarat. The project will become a benchmark infrastructure project in Gujarat. The project will follow an integrated sustainable township approach and is conceptualized by Tata Housing with a vision to create a positive ecosystem for the neighborhood and the community.

The new and enhanced Shubh Griha at Ahmedabad will not just be painted with colours but with the hues of Gujarat. Every little amenity has been planned keeping in mind the Gujarat way of life. Strategically located on Vadsar-Kalol Road, Near Arvind Mills campus, the project offers all the essential amenities that will uplift the quality of life of residents of Gujarat. Shubh Griha Ahmedabad will offer 1RK, 1BHK and 1.5BHK apartments priced between Rs 0.792 million to Rs 1.23 million

Announcing the launch of 'Shubh Griha' at Ahmedabad, Brotin Banerjee, managing director and chief executive officer of TATA Housing said, ''Following the success of Shubh Griha at Boisar & Vasind in Maharashtra and coupled with an extensive consumer demand from the low and medium income consumer segments, we are happy to bring this iconic and successful brand for the people of Gujarat. We are proud to partner with one of the most respected business groups of India. As part of our long-term strategy, we are looking at establishing our presence in the emergent Tier I and Tier II cities. This partnership with Arvind Limited (Q,N,C,F)'' will help us tap onto Gujarat, an important market, for township projects, while being committed to our endeavor of Sustainable Development.``

Sanjay Lalbhai, CMD of Arvind, said, ''Arvind is excited and proud to have joined hands with Tata Housing in Gujarat for this mega project. This township is all set to redefine standards of quality and delivery of real estate in Gujarat.This project and partnership with the Tatas is one more endeavour from Arvind to enhance the lifestyles of consumers across varied segments.''

Kamal Singal, CEO-Arvind Real Estate, added, In partnership with the Tata's , this project is one more important step forward for Arvind Real Estate in delivering quality and trust to the real estate customers of Gujarat . After touching millions of lives through our apparels and lifestyle products, we are excited to bring state of the art, modern and contemporary real estate solutions to the consumers in Ahmedabad.''

Shares of the company gained Rs 1.25, or 1.47%, to settle at Rs 86.25. The total volume of shares traded was 2,124,315 at the BSE (Wednesday).

Tag: Real estate india, Indian properties
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