Tata Housing To Invest Rs 2000 Crore For Luxury Housing Project In Gurgaon
Tata Housing Development Company Ltd to invest Rs 2000 crore to build a luxury housing project in Gurgaon and also announced its plans to foray into the overseas market this fiscal. “We are launching a luxury housing project, ‘Tata Primanti’ in Gurgaon, comprising 1,100 units. The investment to develop this project will be Rs 2,000 crore,” the company’s Managing Director and Chief Executive Officer, Brotin Banerjee, told reporters.
He said the company has bought 36 acres of land from group company Tata Realty and Infrastructure for about Rs 800 crore. The proposed investment will be met through internal accruals. The company is offering homes at a price starting from Rs 1.5 crore.
On the company’s expansion plans for this fiscal, Banerjee said: “We will launch 8-10 new projects this year. Besides that, We are looking at two new lines of business related to land development. It will be smaller in size than the realty business.” Moreover, he said the company is planning to expand operations into overseas markets this fiscal. “We are looking for partners to enter into two countries in the SAARC region,” he said.
Banerjee said the plan to foray into the international market is in advance stages, while the proposal for expanding into two new lines of business is still at a preliminary stage. He refused to divulge further details on these new initiatives.
Elaborating on the Gurgaon project, Banerjee said this is the company’s second project in the city and the company is in advanced stages of launching two more projects in the Delhi-NCR this fiscal in a joint venture.
“We have signed term sheets for a couple of projects in Delhi-NCR. One project would be affordable housing,” he added.
Affordable Housing, Delhi NCR, Gurgaon, Luxury housing project, Luxury property in Gurgaon, Tata Housing to invest Rs 2000 crore, Tata Primanti, Tata Primanti Gurgaon
