mumbai ifc a member of the world bank group has entered into an agreement with tata value homes to invest 25 million or rs 160 crore into finance affordable housing projects for lowincome households across india ifcs investment will provide the 100 per cent subsidiary of tata housing development co with longterm capital to develop about 16800 homes over the next ten years the company said in a release tata value homes will help lower and middleincome households and young professionals in urban and semiurban areas access quality affordable housing said vipul prakash ifcs director global corporate coverage ifcs investment is the first step towards a longerterm partnership to facilitate the development of affordable housing in india and other emerging markets the investment will be for new affordable housing projects to be undertaken by tata value homes our partnership with ifc will help increase availability of affordable value housing in india said brotin banerjee ceo and md tata housing over the past few years we have delivered over 5000 apartments in the price range of 8000 to 50000 rs 500000 to rs 30 lakh across various townships this partnership with ifc will help us become indias largest home provider in the value and affordable housing segment by 201819 in india urbanization the increasing number of nuclear families and rising incomes are boosting demand for housing there is an estimated shortage of more than 19 million housing units primarily in underserved urban areas tata value homes established in 2010 focuses exclusively on value and affordable housing and has introduced two panindia brands shubh griha for value homes and new haven for affordable homes some of the ongoing key projects of tata value homes include shubh griha developed in boisar near mumbai and ahmedabad and new haven is being developed at boisar ahmedabad and bengaluru