Bouyed by the encouraging response to its low-cost housing project in Mumbai, Tata Housing Development Company, the real estate arm of the Tata group, is set for an encore in national capital region. The company is in advanced talks with Delhi-based Raheja Developers to launch a similar low-cost housing project at IMT Manesar near Guragon, which is a satellite town of Delhi, people involved, in the project told Financial Chronicle.
Each flat in the project is expected to cost around Rs 5-10 lakh, a person in the loop said on condition of anonymity. He added that the low-cost residential project will be built on an area of 15-20 acre and an apartment therein will be built on around 350 sq ft. The project, to be executed by a joint venture of Tata Houisng and Raheja Developers, is expected to be launched within a couple of months.
He further added that land for the project was already available with necessary approvals. Depending upon the initial response, the developers may increase the number of flats being built in the project. At the moment, they are planning to build 3,000 apartments, which may be scaled up to 9,000 if the response is encouraging.
More : mydigitalfc.com
Send an E-Mail for India Property Enquiry!
Related News from India Properties
Tata builds the Nano home
First it launched the Tata Nano – the worlds cheapest car. Now, the company that owns Jaguar Land Rover and Corus Steel is giving India the worlds cheapest home. Dubbed Nano homes by the Indian media, Tatas housing project will sell one-room, 283 sq ft flats, less than half the size of a squash court, for 390,000 rupees (£5,200) on the outskirts of Mumbai – a city where property prices compete with those in London or New York. A more expensive option, for 670,000 rupees (£9,000) is 465 sq ft and has a living room and separate bedroom. Source : telegraph.co.uk
CCMB to set up Nano Bio-Tech centre in Hyderabad
Centre for Cellular and Molecular Biology (CCMB) Director Lalji Singh has said the CCMB is planning to set up Nano Bio-technology centre in future. Speaking to newspersons here yesterday on the occasion ''open day'' celebrations in commemoration of the selling up of the council for scientific and Industry research (CSIR) established in 1942, organised by the CCMB here, Mr Singh said the Nano Bio-technology centre was under conceptual stage and it would cost of Rs 100 crore. A proposal had been sent to CSIR recently, he added. The Centre would concentrate more on developing the Nano Bio-technology for healthcare and bio-technology, he said
Saviour Builders tweaks luxury houses into budget homes
With the high-end housing segment taking a hit due to the real estate slowdown, Saviour Builders is converting its proposed Rs 200 crore luxury residential project at Ghaziabad into budget homes. Recession has affected only the high-end properties. Common men cannot afford flats above Rs 1 crore, so we are concentrating only on budget homes, Saviour Builders Director Sanjay Rastogi said. The realty player now plans to construct 900 housing units at the Ghaziabad project - Greenisle, which will be offered to consumers at a price between Rs 25 lakh and Rs 38 lakh, he added. More : economictimes.indiatimes.com
Tata pursues expansion path in US
Indian conglomerate Tata may be making waves with a planned mega takeover of top European steelmaker Corus, but its biggest acquisition so far has been in the United States, where it is eyeing even more lucrative deals. Tata has offered about 5.6 billion pounds ($11.1 billion) for Corus as it battles with Brazilian steelmaker CSN, or Companhia Siderurgica Nacional, to seize control of the Anglo-Dutch firm. The deal is poised to outsize by 11 times Tatas largest corporate takeover abroad so far -- the nearly $700-million purchase of a 30 per cent share of US food and beverage firm Energy Brands Inc
Jones Lang LaSalle plans to invest $1 bn in property market
The US-based Jones Lang LaSalle (JLL), the worlds leading integrated global real estate services and money management firm, is planning to strengthen its position in India. The firm, which recently merged with Trammel Crow Meghraj, a property consultant based in Mumbai, will bring in its investment management business to India and has plans to invest around $1 billion in the countrys burgeoning property market. We dont have any presence in Indias investment management service sector. Now, we have lined up plans to bring in the business to the country. We have also earmarked close to $20 billion for the Asia-Pacific