Tata Housing Development Company (THDCL) today forayed into the Chennai residential market with the launch of its flagship project, Crescent Lake Homes, at Oragadam near here.
THDCL’s Managing Director and Chief Executive Officer, Brotin Banerjee, said the company would invest Rs 1,500-2,000 crore in Chennai during this financial year. He was speaking to reporters after launching Crescent Lake Homes here today.
Besides Crescent Lake Homes, the integrated township project spread over 25 acres, the proposed investment would see construction of 2,200 residential units, priced at Rs 14-35 lakh per flat, over the next four years at a cost of Rs 650-700 crore and a mixed township project. The mixed township project would spread over 40-50 acres and each flat would cost around Rs 6.5 lakh to Rs 35 lakh.
THDCL is also planning to develop a residential project, spread over 30 acres, in Hyderabad. The project will be developed along with a joint venture partner, who will bring land.
Tata Housing is also talking to various state governments to promote affordable housing projects through a PPP model. It recently signed two MoUs: One with the Assam government for developing commercial space, including business parks and information technology buildings in the state and another with the Guwahati Metropolitan Development Authority for developing a township and other infrastructure projects under the PPP model.
