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Tata Housing plans Rs 1,200 crore investment for premium housing

Tata group’s real estate arm Tata Housing intends to contribute around Rs 1,200 crore throughout the following two years to secure land altogether and through joint endeavors across significant urban communities to foster group housing projects as well with respect to plot development, which has gotten some momentum in the midst of the Covid pandemic.

In a meeting with PTI, Tata Realty and Infrastructure CEO and MD Sanjay Dutt noticed that the interest for plots has expanded essentially during the pandemic and highlighted that the organization has sold every one of the 157 plots in Bengaluru for Rs 130 crore.

Tata Housing Development Company Ltd and Tata Realty and Infrastructure Ltd are 100% auxiliaries of Tata Sons.

Tata Housing has as of late sent off a project ‘Swaram’ at Devanahalli in Bengaluru, Dutt said, adding that the plots were sold out in no less than a day and a half of its launch.

“We sold all 157 plots for Rs 130 crore,” he said.

The project is a segment of Tata Housing’s 140-acre township ‘Carnatica’ created by One Bangalore Luxury Projects LLP, a joint endeavor between Tata Housing Development Company Ltd and M S Ramaiah Realty LLP.

This is the second plotted advancement undertaking of the organization after Crescent Enclave in Chennai. Floated by the progress of its plotted advancement projects, Dutta said: “We are currently hoping to launch plots across all significant urban communities like Delhi-NCR, Mumbai, Bengaluru, Pune and Kolkata.” “We are planning to invest Rs 1,200 crore over the next 12-24 months to acquire lands for premium residential spaces along with plotted development,” he said.

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