Real Estate firm Tata Housing has announced an investment of about Rs 450 crore in a span of four years to develop a new housing project in Kolkata.
This project will be the company’s second one in Kolkata, Tata Housing said in a statement.
Tata Housing, the real estate arm of the Tata Group, would develop more than 700 apartments in the 13-acre project ‘Avenida’ that is located at New Town, Rajarhat in Kolkata, the company announced.
“With the ever growing appetite for luxury residences with ultra-modern facilities in India, launch of Avenida in Kolkata is in line with our expansion plans to reinforce our presence in the luxury space in Kolkata. We are confident that Avenida our 2nd project will also become a landmark project in Rajarhat,” company’s MD and CEO Brotin Banerjee said.
The construction work is likely to begin this month and the project is expected to be delivered by 2017.
Tata Housing is a closely held public limited company and a subsidiary of Tata Sons Ltd, which holds 99.86 percent stake in the real estate firm.
It has 70 million sq ft under various stages of planning and execution and an additional 19 million sq ft in the pipeline. It is offering products ranging from Rs 5 lakh to Rs 14 crore.
Tata Housing has presence in Mumbai, Pune, Ahmedabad, Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar. It has also ventured into foreign markets such as Maldives and is actively exploring other markets, including Sri Lanka and other South Asian countries.
