Tata Housing to invest Rs 600 crore on a project in Gurgaon

NEW DELHI: Tata group firm Tata Housing will invest Rs 600 crore over the next four years to develop a new luxury residential project in Gurgaon.

Expanding presence in the Delhi-NCR market, the company launched fourth project in this region, all in Gurgaon, to develop about 150 villas in a price range of Rs 3-8 crore.

" Tata Housing Development Company strengthened its presence in the high-end luxury segment in NCR by launching its 4th project 'Arabella'," the company said in a statement.

It did not mention project cost, but sources said the investment on development of this project would be around Rs 600 crore over the next 4 years including the land cost.

The project, to be designed by architects Perkins Eastman, USA, is spread over 35 acres on Gurgaon-Sohna Road.

Tata Housing is a subsidiary of Tata Sons Ltd, which has 99.86 per cent stake in the realty firm.

The company has 70 million sq ft under various stages of planning and execution and an additional 19 million sq ft in the pipeline.

Tata Housing has presence in Mumbai, Pune, Ahmedabad, Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar. The company has also ventured into foreign markets such as Maldives and Sri Lanka.