Tata Housing to buy 20 acre land parcel in Bangalore from Alstom T&D for Rs 120 crore

NEW DELHI: Tata Housing has signed an agreement with power transmission equipment maker Alstom T&D India to buy a 20-acre plot of land in Bangalore for Rs 120 crore.

The land currently houses a manufacturing unit of the Alstom T&D India.

“As part of our long term strategy, we are looking at expanding our presence in the fast growing city of Bangalore. We are witnessing phenomenal growth in north Bangalore as its commercial and residential market is growing exponentially,” a Tata Housing spokesperson said in a statement.

“With Bangalore, being credited as the 10th most favoured prop investment destination by Asia Pacific, we are planning to launch an ultra-luxury project on this land to cater to the increasing aspiration of “higher living” in the city,” the spokesperson added.

The agreement with Alstom T&D India is a part of the Tata Housing’s expansion strategy and the sale is likely to be completed over the next three months.

Bangalore is one of the fastest-growing cities and the presence of IT and BPO businesses here has created an active demand for commercial and residential properties.