Tata Value Homes goes online to sell houses

Buoyed by the success in online sale in the past year, Tata Value Homes, a wholly-owned subsidiary of Tata Housing Development Company, has launched its e-commerce platform–tatavaluehomes.com.

In 10 months, the company has sold 750 units online, or about one million sq ft worth over Rs.300 crore. The online booking calls for an initial booking amount of Rs.30,000.

Company officials follow up the bookings and complete the necessary documentation and registrations.

The booking amount is non-refundable. The alliance with e-commerce site snapdeal will continue.

The new platform is to enable buyers across the world to book homes in three steps by selecting location, reviewing details and booking online for Rs.30,000 under an inaugural offer of ‘one price one nation’.

The offer starts from 10 a.m. on October 15. Under the current offer, buyers will be able to buy units at a uniform price across Ahmedabad, Bangalore, Mumbai, Pune and Chennai.

Ample stock

Tata Homes has 10,000-12,000 homes in stock across the five locations which are being built in phases. I

t is in the process of launching three more projects, one each in the Mumbai metropolitan area, Delhi NCR and Kolkata, which will add 12,000 units over a period of seven to eight years.

A couple of overseas projects are also expected to come online by the end of this fiscal, the company said.

Apartments available on offer are: one BHK at Rs.29.9 lakh, 2 BHK at Rs.39.9 lakh, 2 BHK large at Rs.49.9 lakh and 3 BHK at RS.59.9 lakh.

“As of now, online sale is about 20-25 per cent of total sales and we expect it to go up to 40-45 per cent by 2015. With this launch, we have simplified the platform, which makes purchasing homes accessible to Indians across the world,” said Brotin Banerjee, MD & CEO, Tata Housing.

Tata Value Homes has seen a rising appetite for online sales from tier-II markets, which have gone up from 11 per cent in December 2012-January 2013 to 30 per cent in January-October 2014.

Buyers from tier-II cities include Patna, Chandigarh, Ranchi, Jaipur, Indore, Baroda, Surat, Mangalore, Mysore, Bangalore, Coimbatore, Tiruchi, Bhubaneswar and Leh. Business Line