Tata Housing to invest Rs.1,200 crore

New Delhi, March 3: Tata Housing Development Company, a unit of Tata Group, Monday said it will invest Rs.1,200 crore in 12 projects in eight major cities in India by 2018.

Addressing a media conference here, managing director and chief executive officer of Tata Housing Brotin Banerjee said the company targets a market share of 25 percent by 2018 in senior living segment.

Tata Housing unveiled its expansion plans for the senior living brand “Riva Residences”.

“Gone are the days when Indians after retirement thought of sitting at home and leading a passive life. Today’s globetrotting Indian consumer is aware of international standards and is demanding an active lifestyle after retirement,” said Banerjee.

He said the company received over 4,000 inquiries from various locations in the first month of the launch of Riva project at Bangalore.

“The expansion in this segment is a socially conscious decision by the company along with our mission to create projects basis the needs and requirement of our consumers,” Banerjee added.