Tata Housing Development Company Limited is investing Rs 500 crore in Pune to develop housing and commercial projects. The company on Tuesday launched its new township, 'La Montana', in Talegaon near Pune, in which it had invested Rs 350 crore.
Speaking at the press conference, Brotin Banerjee, MD and CEO, Tata Housing, said, “The company has major expansion plans in the fast-growing Tier-I and Tier-II cities under which we are launching two projects in Talegaon and Undri namely La Montana and Inora Park near Pune. The cost of these projects is around Rs350 crore and we are planning to invest an additional Rs 500 crore in further housing development in future. This represents a huge opportunity for quality housing projects.”
He added that the two recent launches ‘Privé’ and 'Inora Park' were successful among the consumers and the company similarly expects La Montana to develop into a new landmark destination in Talegaon. These would become benchmark projects across the consumer pyramid, he said.
Last year, Tata Housing had launched a luxury housing scheme of 70 villas in Khandala with the investment of Rs 325 crore. La Montana at Talegaon is spread across 20.35 acres and offers more than 850 apartments while Inora Park at Undri is developed on 6.5 acres with 400 flats.
The company is developing projects over 35 million sft in various cities including Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Pune and Goa with the total investment of Rs 5,000 crore.