Rs.400 crore to be invested in Goa by Tata Housing

With an aim to develop a mid-income housing project in Goa, Tata Housing will be investing about Rs.400 crore over the next three years. The project is the second housing project in Goa undertaken by the Tata Group firm after developing the luxury project comprising 65 villas about 7-8 years ago.

Under the project, the company will be developing 650 housing units on a 7 acre land in Goa. Tata Housing Managing Director and CEO Brotin Banerjee said, “Global exposure and awareness even among the middle- income group, has led to an increasing demand for second homes. Lately, the concept of affordable yet luxury second home is gaining traction amongst the young consumer who intends to showcase his social standing amongst their peers”. “These (second home) projects give them an opportunity to experience a lifestyle with the latest amenities and technologies, security and lifestyle which may not be possible in a big city” he added. The proposed project in Goa is besides housing projects in Kasauli (Himachal Pradesh), Lonavala (near Mumbai) and Talegaon (near Pune) that are already being developed targeting buyers looking for second home.

With an estimated cost of around Rs.400 crores, the project will have 250 units in the first phase with a starting price of Rs.35 lakhs. The construction is already underway and the company is targeting the completion of the project within a period of 3 years as it would be a low-rise towers.

Tata Housing, established in 1984, is a closely held public limited company and a subsidiary of Tata Sons Ltd. With about 70 million sq ft under various stages of planning & execution, the company also has about an additional 19 million sq ft in the pipeline.

The company  is also planning to enter Noida property market and is in discussions with four local builders, including Logix group and Lotus Greens, to develop 4 projects in Gurgaon as a joint venture.

Tata Housing is about to invest Rs. 600 crore

One of the leading realty firm Tata Housing is planning to invest more than Rs. 600 crore for the development of new residential project at the Bahadurgarh, Haryana.

For this particular residential project Tata Housing has tied up knot with the local real estate developer, who owns about 21.7 acres of land for the development of this project which will contain more than 800 to 1,000 units. As per the statement of Tata Value Homes, which is the subsidiary of Tata Housing, with this deal it has entered in the Delhi and NCR region for affordable housing market by launching the new project at Bahadurgarh, Haryana, where apartments price will start from Rs. 50 lacs.

Apart from that Tata Housing, still hiding the fact that how much they are going to invest in this latest projects, but as per anonymous sources Tata Housing is about to invest Rs. 600 crore. As per the officials company has received all the necessary government and non-government approvals to develop this project, however; it is expected that the construction work will start within one to two months.

Brotin Banerjee, MD and CEO of Tata Housing, stated that this project is in the close proximity for New Delhi and Gurgaon both city and Bahadurgarh has potential to become next corporate hub in terms of value and affordable housing in the NCR region.

Tata Housing is about to become the public limited company however its subsidiary, Tata Sons Ltd which hold more than 99 per cent stake in the realty firm. Currently, Tata Housing has more than 70 million square feet under development which is in various stages from planning to execution with the additional 19 million square feet area which is under pipeline. In present, currently, three projects are underway from Tata Housing.