Press Release

Tata Housing Wins Prestigious IGBC Award for Outstanding Contribution to a Green Building Movement

45Tata Housing Development Co. Ltd., India’s fastest growing real estate development company is proud to be acknowledged by the Indian Green Building Council (IGBC) for its contribution to eco-friendly construction. Tata Housing was recently facilitated, at the GreenCO Summit 2013 organized by The Confederation of Indian Industry (CII – Western Chapter) at Suzlon One Earth in Pune.

Dr. APJ Abdul Kalam, Former President of India presented the award to Tata Housing at the ceremony. Tata Housing is one of the major contributors in achieving the 1.51 Billion sq.ft of IGCB certified green footprint in the country. They have over 55.4 million sq.ft of registered green building footprint of which 8.8 million sq.ft. have been certified.

Speaking on the achievement Mr. Brotin Banerjee, Managing Director and Chief Executive Officer, Tata Housing, said, “At Tata Housing, it is our constant endeavour to create eco-friendly homes. We maximise the open green spaces in the communities that we design and provide over 80 per cent open spaces which allows natural lighting and other natural components in most of our projects. As a responsible corporate citizen and following the ethos of a Tata group company, all projects of Tata Housing are sustainable green developments under the guidelines of Indian Green Building Council (IGBC).”

Dr. Prem C Jain, Chairman of the Indian Green Building Council said, ”Committed and passionate champions like Tata Housing have contributed to all these achievements. I would like to thank you for all your efforts and for being such a great supporter of IGBC’s initiatives.”

IGBC Green Homes is the first rating programme developed in India exclusively for the residential sector and is based on the accepted energy environmental principles and strikes a balance between known established practices and emerging concepts. The evaluation process of the IGBC certification is based on parameters such as site selection and planning, water efficiency, energy efficiency, materials, internal environment quality and innovation and design process; and we are glad to have accomplished several projects based on these tenets.

IGBC is a consensus driven not-for profit council representing the building industry, consisting of more than 500 committed members. The council encourages builders, developers and owners to build green to enhance the economic and environmental performance of buildings. The Green Building Movement in India has been spearheaded by IGBC since 2001, by creating national awareness. The council’s activities have enabled a market transformation with regard to Green Building concepts, materials and technologies. IGBC continuously works to provide tools that facilitate the adoption of green building practices in India. The development of IGBC Green Homes Rating System is another important step in this direction.

India’s New Affluents Redefine the Luxury Segment

44India’s rapid advance from an emerging to a developed economy has given rise to a new breed of luxury consumers, a highly opinionated and demanding set of consumers, which is heavily influenced by global tastes and beliefs. India’s New Affluents, while retaining a distinctly Indian identity, are redefining the market, taking marketers by storm. This is the preeminent conclusion of a highly engaging roundtable discussion organized by Tata Housing Development Co. Ltd., India’s fastest growing real estate development company.

According to the Boston Consulting Group, the numbers of affluent class are around 13 million households in India. Among affluent households, education and occupation help define consumption patterns and attitudes, creating two distinct segments: New and Traditional. The recent emergence of the affluent class in India highlights this demographic group’s obsession with the love for technology, high living and new-age affluence – in a nutshell, an opulent lifestyle. This has led to conversation amongst manufacturers and marketers on who these ‘affluents’ are and why their consumption habits are of relevance to India.

According to the panel, India’s New Affluents will not simply mimic western spending patterns but retain distinctly Indian characteristics; a type of jugaad that marries affluence with aspirations, with a strong focus on the former.

The discussion was compiled by an array of experts representing the fields of research, marketing, real estate and consumer and brand intelligence; and was organized to stimulate discussion, debate and further insight into the segment. In attendance were some of the biggest names in thought leadership, industry leaders and decision-makers. Mr. A Harikesh, Senior Vice President, Marketing & Sales – Tata Housing was the host of the roundtable discussion; while Mr. Harish Bijoor, Business Strategy Specialist and CEO of Harish Bijoor Consults Inc., Mr. Bino Paul, Professor and Chairperson at Tata Institute of Social Sciences and Mr. Sandeep Trivedi, Director, Growth Market at Cushman & Wakefield were the luminaries present.

Speaking at the Tata Housing’s New Affluents Roundtable

Real estate expert, Mr. A Harikesh said, “New Affluents are the ones driving the realty market today. They are ambitious and aspire to live a life of sheer luxury. They have the advantage of having both good education and as well successful careers. Most have travelled internationally and have lived abroad, a life they now want in their own home town as well.

“Our esteemed panelists have neatly captured how affluence has become a trend in India, and from where and how this segment, which is an international phenomenon, has now made its way to India,” concluded Mr. Harikesh.

Marketing and brand strategy specialist, Mr. Harish Bijoor, said, “In the marketing sector, we have changed the way offerings are assessed, while at the same time delving deep into the buying psychology of affluent consumers. For New Affluents, products should flaunt their value and brand name always trumps affordability.”

Social researcher Mr. Bino Paul commented on the societal change saying, “New Affluents are pivotal in transforming urban agglomerations into global cities whose steadfast longing for novelty and structural changes forms potent base for new ideas, products, markets, spaces and socialization milieus. They seem to be different from conventional Indian middle class, in assimilating dynamic contexts that are enmeshed in social-spatial-economic-cultural changes.”

Mr. Sandeep Trivedi, Director, Growth Market at Cushman & Wakefield said, “The growing working population of people in the age ground of 27-45 is the primary reason for this change. The age of a homebuyer has drastically decreased over the years. Today, the average age of a first home buyer is in the age bracket of 28-32 years. This trend has transformed the residential market and created a niche within.”