Tata Housing, Arvind team up to build township near Ahmedabad

Tata Housing Development Company and lifestyle apparel and textiles company Arvind Limited have joined hands to set up 50:50 joint venture to develop an integrated township near Ahmedabad.

The project to be set up over an area spread over 134 acres near Ahmedabad, will have a built-up area of more than nine-million square feet.

Located on the western outskirts of Ahmedabad, the township will include residential, commercial and retail spaces apart from a hospital, a school and other civic amenities, a press release said today.

"As a part of a long-term strategy, we are looking at establishing our presence in the emergent Tier I and Tier II cities," Brotin Banerjee, managing director and CEO of Tata Housing Development Company, said.

"The project is a significant step towards our mission to create and deliver real estate value to consumers. Tatas bring in immense credibility and Arvind with its 80-years legacy brings in immense amount of trust well needed for the real estate industry," added Kamal Singal, CEO of Arvind Real Estate.