RoofandFloor Bureau
Tata Housing has said that its subsidiary, Tata Value Homes, has raised funds worth $25 million from UK-based CDC for development of affordable homes across the country. CDC is UK’s development finance institution and is wholly owned by the UK Government.
Tata Housing MD & CEO Brotin Banerjee said, “We are extremely happy to partner with CDC for the affordable housing platform created last year. Investment from CDC will help us further our commitment towards delivering quality living spaces to low and middle income groups in the country.”
CDC joins World Bank’s private financing arm International Finance Corporation (IFC) to invest in the Tata subsidiary. According to Tata Value Homes, the CDC investment will help them meet their commitment to deliver quality living spaces to low and middle income groups in India.
Tata Value Homes is developing projects under two brands — Shubh Griha and New Haven. It is also developing a Mediterranean-themed project at Santorini, near Chennai, and La Montana near Telegaon, Pune.