TVS to enter in Low cost housing segment

One of India"s leading players in the auto and finance segment, the TVS Group, is now planning toforay into low cost housing segment. The TVS Motor Company will invest through its TVS housing, its100 per cent subsidiary.

According to a Company source, “The vision is to build 20,000 affordable dwellings and achieve aturnover of Rs 1,000 crore in the fifth full year of operation."

As per the initial plan, housing schemes comprising of flats with size ranging between 385-500 sq.feetwill be developed. The rates of these flats will be in the range of Rs. 7-10 lakh.

A major part of the Indian population comprises of the middle class segment. With rising population,the demand for low cost housing is anticipated to witness a double digit growth. This fact has

attracted a number of investors towards this market including Jerry Rao (founder Mphasis), RameshRamanathan (ex-Citibank) and the Tata Group to invest in this sector.

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