After bringing its real estate entities under one management, Tata Sons' realty arm is consolidating its position in the country's burgeoning housing and construction sector - Issue Date: Apr 14, 2024
In terms of homebuyer acceptance, according to Oberoi, an emerging interest exists, emphasising the need to bridge the information gap and dispel misconceptions. Educating homebuyers about the benefits, including cost savings and faster construction timelines, is crucial for fostering wider acceptance, he said. Homebuyers, recognising the advantages of this modern construction approach, are expected to play a pivotal role in driving its widespread acceptance across the country.
Tata Realty & Infrastructure, the real estate arm of the Tata group, has achieved 120 per cent of its sales target in residential projects last financial year. Of its 17 residential projects, 13 exceeded their sales targets in FY21, said Sanjay Dutt, managing director (MD) of the company. However, he declined to share the sales numbers for FY21. He attributed this feat to the company’s focus on digital marketing, fast pace of construction, employee benefits and so on. “Before the pandemic, we had 3,400 workers at the sites and after the second quarter, we had 6,000. We were among the few firms that started construction immediately after lockdown. In the first nine months of last year, we did not have any Covid cases at our sites,” he said. Many developers in cities, such as Mumbai, faced construction delays during lockdown as labourers went back to their hometowns. Dutt said because the company could restart construction early, it has a sizable ready inventory, which is ad