Tatas step up presence in West Bengal real estate space
Tie-up with a local real estate group for a 25-acre project which will house 3,500 families at an investment of Rs.1,800 crore
Feb 18, 2015
Source : The Hindu


Kolkata: The Tata group has increased its presence in the city real estate space by entering into a tie-up with a local real estate group for a 25-acre project which will house 3,500 families at an investment of Rs.1,800 crore.

The project is coming up on a land of closed industrial units. Brotin Banerjee, Managing Director and Chief Executive Officer, Tata Housing, however, said that presently the group did not have plans to try out similar land parcels elsewhere.

The project is being developed by Tata Value Homes, a wholly-owned subsidiary, along with Square Four Group. While the investment would be made by Square Four, the conceptualisation, marketing and management would be by the Tatas. Tata Value Homes seeks to focus on affordable housing, and plans to invest Rs.2,500 crore over the next three years.

This deal marks the introduction of the first large-scale integrated township condominium development by Tata Value Homes in Kolkata, and will help catapult the Kolkata residential market into high growth one, according to a real estate consultancy firm. The project is located on 25 acres on the city’s northern fringes. Tata Housing has two projects in city.

Latest Realty News

Feb 17, 2015
Mumbai: Realty players have welcomed the the BrihanMumbai Municipal Corporation's proposal to increase floor space index (FSI) up to 8
Feb 17, 2015
MUMBAI: At a time when consultants are being poached by start-ups and corporate strategy teams, the Mumbai-based real estate company Lodha Group has created the biggest team of management consultants
Feb 17, 2015
NEW DELHI: The government is in the process of preparing a fresh cabinet note outlining the contours of a real estate regulator
Feb 17, 2015
New Delhi: The Delhi Development Authority saw approval of chapters on environment and transport in Master Plan 2021
Feb 17, 2015
Mallapuram: Commercial building owners under the banner of the Kerala Building Owners Welfare Association are on a warpath against the civic bodies
Feb 17, 2015
Raichur: The State government had zero-tolerance policy on encroachments, Minister For Urban Development Vinay Kumar Sorake said
Feb 17, 2015
New Delhi: policymakers must release land, without triggering political agitations or crises in banking and real estate
Feb 17, 2015
NEW DELHI: Housing prices in Delhi-NCR rose by an average 3 per cent during October-December period of 2014
Feb 16, 2015
Bhubaneswar: Experts warn that excessive use of high radio frequency in the proposed Smart Cities might pose health risk
Feb 16, 2015
NOIDA: More than five months after the new contours of the no-construction zone around the Okhla Bird Sanctuary were finalized, a delay in the final notification is making thousands of homebuyers increasingly frustrated and restless

Latest Realty News Of State

Realty Talk's