Tata Housing enters Gurgaon market; ties up with Rahejas
08 August 2008
Mumbai: Tata Housing Development Company Ltd is entering the property market in North India with plans to develop residential space in Gurgaon along with the Raheja Group. The company also plans to develop around 20 million sq ft of property across the country.
Tata Housing Development Company Ltd, a fully-owned subsidiary of Tata Sons, will develop `Raisina Residency', in Gurgaon, along with the Rahejas.
''Raisina Residency will be jointly developed by Tata Housing and Raheja Builders. Aedas, one of the top five architects in the world, has designed this unique project,'' Brotin Banerjee, managing director of Tata Housing, said.
The Gurgaon project, he said, would be spread across a sprawling 11.73 acre area.
''Raisina Residency has nine aesthetically designed towers that complement modern lifestyle. It will have two and three bedroom apartments and also duplex and penthouses. The master plan ensures that maximum flats get unhindered views of both the Aravalis and the city landscape,'' he added.
''Raisina Residency will be the new luxury address in the Gurgaon metropolis. Air-conditioned condos, penthouses with island bathtubs and a state-of-the-art clubhouse, fluid landscape are some of the luxuries that are fit for a king which are being offered,'' added Raheja Builders chairman Navin M Raheja.
Tata Housing plans to develop 20 million sq ft of property valued at over Rs12,000 crore across India in the next four to five years, he said, adding, the company may also partner land-owners or other developers for the projects.
''The projects are coming up in 8-9 major cities such as Delhi and its neighbouring townships as also Mumbai, Goa, Hyderabad, Chennai, Bangalore and Kolkata,'' he said.