Wednesday, September 23, 2009

Tata Housing Projects, Tata Housing Development Company In North Indian realty market

Tata Housing Projects Tata Housing Development Company Ltd., a fully-owned subsidiary of Tata Sons, announced its foray into the North Indian realty market with the launch of a residential property in neighboring Gurgaon. “Raisina Residency will be jointly developed by Tata Housing and Raheja Builders. Aedas, one of the top five architects in the world, has designed this unique project,” Tata Housing Managing Director Brotin Banerjee said.

Addressing a press conference here, Mr. Banerjee said Tata Housing would be developing 200 lakh sq. ft. worth over Rs. 12,000 crore across India in the next four to five years. The projects will be developed by the company on its own as well as in partnership with land-owners and other real estate firms. “The projects are coming up in 8-9 major cities such as Delhi and its neighboring townships, Mumbai, Goa, Hyderabad, Chennai, Bangalore and Kolkata,” he informed.

Talking about the project in Gurgaon, Mr. Banerjee said it would be spread across a sprawling 11.73 acre campus. “Raisina Residency has nine aesthetically designed towers that complement modern lifestyle. It will have two and three bedroom apartments and also duplex and penthouses. The master plan ensures that maximum flats get unhindered views of both the Aravalis and the city landscape,” he added. Raheja Builders Chairman Navin M. Raheja, said: “Raisina Residency will be the new luxury address in the Gurgaon metropolis. Air-conditioned condos, penthouses with island bathtubs and a state-of-the-art clubhouse, fluid landscape are some of the luxuries that are fit for a king which are being offered.”

New Delhi, August 7

Tata Housing Development Company and Raheja Builders on Thursday said they would invest Rs 350 crore in jointly developing a residential project with around 340 luxury apartments at Gurgaon.

NEW DELHI: Tata Housing Development Company, a wholly-owned subsidiary of Tata Sons, has decided to go on overdrive to capture the opportunities in the real estate sector, keeping in mind the present downturn, which has forced a lot of small real estate developers to look for cash rich partner to implement a project. The company is developing a number of projects in cities like Mumbai, Pune, Kolkata, Hyderabad and Banglore, under joint development scheme, under which the local partner brings in land and the Tata housing implements the project on revenue sharing basis. The company is also implementing housing projects on the land of other group companies. Tata Housing has also formed a 50:50 JV with Gurgaon-based developer Raheja group to develop a housing project.

No comments: