1. 13/10/16, 7:32 PMTata Housing raises $25 m from CDC - The Hindu
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Published: May 31, 2016 00:00 IST | Updated: May 31, 2016 05:38 IST ​ Mumbai, May 31, 2016
Tata Housing raises $25 m from CDC
Special Correspondent
Tata Housing Development Company’s affordable housing arm has raised $25 million from UK government-owned development finance
institution CDC.
CDC joins the World Bank’s private financing arm International Finance Corporation (IFC) in investing in Tata Value Homes projects. IFC
had, in May last year, agreed to invest $25 million to fund Tata Value’s affordable group housing projects. The developer had then said the
proceeds would be used to build about 16,800 homes over 10 years.
The investment from CDC will help Tata Value meet its commitment toward delivering quality living spaces to low and middle-income groups
in the country, Brotin Banerjee, CEO and managing director of Tata Housing, said in the statement. Tata Value Homes is developing projects
under two brands, Shubh Griha and New Haven. It is developing a Mediterranean-themed project at Santorini near Chennai, and La
Montana near Talegaon, Pune. Its projects start from Rs. 12 lakh in Ahmedabad and go up to Rs. 62 lakh in Pune across low-cost and mid-
income segment.
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cdc/article8670623.ece
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