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IFC looking to invest $50M in Tata Housing’s affordable housing arm Smart Value Homes

07 February, 2013

International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, is looking to invest up to $50 million in Tata Housing Development Company’s affordable housing arm Smart Value Homes Ltd (SVH), according to a disclosure.

IFC, which invests through various forms such as equity, quasi-equity and debt, did not specify how it would invest in SVH.

SVH will use the funds to build affordable housing near industrial clusters in the 10 largest metros in India. However, the sites for IFC-financed projects are yet to be determined. The investment from IFC will partially fund the development of affordable housing units.

Mumbai-headquartered SVH has seven ongoing projects in the states of Gujarat, Tamil Nadu, Maharashtra and Karnataka. It also plans to sell around 50,000 affordable housing units in India over the next five years.

Recently, the firm announced the sale of its fourth project called New Haven (its first venture in Bangalore) under the banner of Smart Value Homes.

Tata Housing provides real estate development services and undertakes residential, commercial and retail projects. In November 2012, Portman Holdings LLC invested $11.80 million in Tata Housing Development’s Bangalore-based luxury housing project The Promont for 26 per cent stake.

Tata Housing, a wholly owned subsidiary of Tata Sons, has completed 17 residential and 7 commercial projects, spread across 3.8 million sq. ft.

(Edited by Sanghamitra Mandal)


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1 Comment
Vissionary . 5 years ago

Really hope “Smart Value Homes Ltd” corporate leadership focus on TRIPURA which (is an excellent business prospect between rest of India and SE Asia – as part of continued LOOK EAST POLICY from Center) and in need of investment and world class infrastructures!

Few facts on TRIPURA:

1.Second highest populous state in NE with around 90% literacy.

2.Established industrial zones

3.Upcoming internet highway for seamless internet access.

4.Upcoming Software technology park, Textile park, Food park

5.international boundary with Bangladesh and improving business activties e.g border huts, Integrated check posts, land custom stations.

6.Connectivity through Bangladesh (rail, water, road) to reach rest of India and (prospective gateway to) Southeast Asia

7.Fast developing social infrastructures

8.On the verge of becoming a major economic melting pot (improved visa pact, improved people to people bondings) with people from all strata of life from Northeast, Bangladesh, Myanmar, SE Asian countries!

9.Upcoming Indian institute of information technology (IIIT)

10.Upcoming international Airport for imrproved connectivity to outside world especially SE Asian countries.

11.Huge scope and prospect to help TRIPURA build up world class infrastructures in industries,healthcare,education,services,tourism, Lifestyle and recreation, Sports.

12.Huge number of people already working in MNCs in metros and can be real beneficiary for those willing to return back and work from home and at the same time guide and train young talented population as per global competitive requirement!

13.Huge number of educated youths ready to prove their mettle and be as competitive as it can be compared to other developed part of India and world!

I strongly believe TRIPURA govt (in close co-ordination with Center, other concerned dignitaries and all corporate vissionaries) can certainly achieve this sooner rather than late .. which would definitely give its people a better employment opportunities, a better healthcare, a better access to quality education, a quality lifestyle, and last but not the least a confident and connected TRIPURA leading India’s charge towards contributing to a more stable and stronger global economy!!

IFC looking to invest $50M in Tata Housing’s affordable housing arm Smart Value Homes

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