Tata Housing to invest 1000 crores to make Gujarat more ‘vibrant’

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Tata Housing during the recent ‘Vibrant Gujarat’ summit signed an agreement with the Gujarat Government to investment Rs 1,000 crores for developing a township in Ahmedabad on a public-private partnership model (PPP).
The agreement was signed on the second day of the Vibrant Gujarat Summit at Gandhinagar, Tata Housing Managing Director and Chief Executive Brotin Banerjee said.
Banerjee declared that the proposed project, which would be a township and may involve one or multiple projects, needs many clearances from the state administration and Government clearances for the same are expected in the next two months. The project, to be developed on PPP model, would in the affordable housing segment
On the project completion and the type of the housing, he said, it will take at least three to four years for completion and it would be in the affordable (Rs 10-20 lakh, 2-3 BHK units) range.
On the increasing focus of the Tata Group in Gujarat, he said the state offers one of the best investment climates in the country today. Moreover, the state administration is very proactive when it comes to private sector investment.
He also revealed that the Tata group have been looking at entering Gujarat for quite some time, but somehow, it never materialised. The Vibrant Gujarat summit just happened to provide that favourable opportunity.
The USD 73-billion Tata Group, the country’s largest industrial house that straddles from salt to software, has already pumped in Rs 30,000 crore in Gujarat. The recent high profile investment was by Tata Motors at Sanand near Ahmedabad to roll out the world’s cheapest car, the Nano.
At the summit, Tata Motors also had signed a pact with the state for rural transportation.

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