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Tata Housing Development Company on Wednesday (May 6) unveiled a low-cost housing project called Shubh Griha. The first property under the Shubh Griha project will come up at Boisar in Mumbai. The company will then launch the housing project in tier I and tier II cities of the country. The price of the homes under the Shubh Griha project will range between Rs 3.9 lakh to Rs 6.7 lakh. The nationwide hosing projects will be constructed under the guidance of Indian Green Building Council (IGBC).
According to the MD and CEO of Tata Housing, Brotin Banerjee, the new housing project has been launched to cater to the housing needs of the people in the low-income bracket who stay in rented accommodation. He said that the company has found out that there is a large percentage of migrant population who either live in rented or in company provided accommodation. According to estimates, about 48 percent of the people in the lower segment are currently staying in rented accommodation.
Tata Housing Development Company has taken up the initiative to provide housing facilities to this low-income segment. According to a study conducted by Tata Housing, the country faces a total shortage of 24.7 million dwelling units, of which middle and low-income groups contribute 70 percent.
