Tata Value Homes tied up with e-commerce major Snapdeal on 26 August 2014 to sell houses online through the online marketplace model. There are 1000 apartments across Mumbai, Talegaon, Pune, Ahmedabad, Bangalore, Chennai and Kolkata.
For the launch period, Tata Value Homes would offer a benefit to the customers who book the home through Snapdeal. In this, customers would get 10000 rupees per month for one year as assured rent after the possession of the home. It is left on customers to stay on premise or lease it out.
Twist in India's E-Commerce
Indian e-commerce sector is going through a major metamorphosis where Business giants are ready to invest in the growing e-tailing sector. Tata Value Homes and Snapdeal tie-up is not the first of its kind. In the beginning of 2014, Wipro's head Azim Premji led an association of investors that invested 00 million US dollars into Snapdeal. Premji also invested in fashion portal Myntra, which was recently acquired by Flipkart.
On the other hand, Infosys' head Narayana Murthy joined hands with Amazon to get Indian companies online by providing back-end support.
In 2013, the online sales of retail goods totalled around 2 billion US dollars. The sales are expected to reach 76 billion US dollars by 2021.
Snapdeal was launched in February 2010. It is an online portal which currently has 25 million subscribers. It sells the products and services to consumers in 5000 cities and towns. It had crossed 1 Billion US dollar sales mark in total 30 months of operations.
Snapdeal had raised between 350 and 400 million US Dollars in investments till date. The mastermind behind its success is Kunal Bahl, CEO of Snapdeal.
Tata Value Homes
Tata Value Homes Limited was incorporated on 8 September 2009 as a private company under the Companies Act, 1956. It was formerly known as Smart Value Homes Limited. Subsequently, it was converted into a public company on 23 July 2010.
Tata Value Homes Limited is a wholly owned subsidiary of TATA Housing Development Company Limited.
When: 26 August 2014