Smart Value Homes Limited (SVH), the wholly-owned subsidiary of Tata Housing Development Company Limited, is planning to raise $50 million from International Finance Corporation (IFC) to fund the development of affordable housing projects. The company is keen on developing affordable housing projects in other emerging markets, particularly in the SAARC region. Tata Housing, a wholly-owned subsidiary of Tata Sons, ventured into real estate development in 1984. To date, Tata Housing has completed 17 residential and seven commercial projects spread over 3.8 million square feet across the country. Smart Value Homes, headquartered in Mumbai, has seven ongoing projects in the states of Gujarat, Tamil Nadu, Maharashtra and Karnataka. The company plans to sell approximately 50,000 affordable housing units in India over the next five years. IFC is proposing a financial investment of up to $50 million in SVH to partially fund the development of affordable housing units. The s...
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