In a bid to increase its penetration in the top 8 cities across the country and increase its market share, Tata Housing on Monday announced that it will invest around Rs 1,200 crore over the next four years.
Tata Housing expansion plans for the senior living brand Riva Residences include development of 12 projects across 8 cities including — Mumbai, Delhi NCR, Ahmedabad, Kolkata, Chennai — the company is looking to take up its market share to 25 per cent by 2018.
The company had received more than 4,000 inquiries in the first month of the launch of Riva Residences Bangalore. Riva Residences has been planned with modern utility-based design facilities and services to specially cater to the requirement of its senior residents.
Commenting on the expansion plans, Brotin Banerjee, MD and CEO, Tata Housing said, “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." "The demand was clear to us with Tata Housing receiving more than 4,000 inquiries from various locations in the first month of the launch of Riva 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.