Realty major Tata Housing today announced foray into the Noida property market in partnership with local developer Lotus Greens for a 20-acre housing project.
The project 'Destination 150' will be developed by its subsidiary Tata Value Homes.
"Developed in partnership with Lotus Greens, this 20-acre ultra-modern property will comprise six wings of 2 BHK and 3 BHK units starting at 50 lakhs and 57 lakhs respectively," Tata Housing said in a statement.
"It gives us immense pleasure to announce our expansion into the Noida market with Destination 150 - our first mega housing project of the new year. The launch of this project is in line with our vision of creating marquee projects in the major metro cities of India," Tata Housing MD & CEO Brotin Banerjee said.
This smart housing project scaled to include the latest technology and amenities, will propel residential and commercial development in Noida, creating greater opportunity for growth in the region, he added.
Tata Housing is already present in the National Capital Region (NCR) property market and is developing four housing projects in Gurgaon. It is now entering Noida, which in the past decade has become a major real estate destination.
In January last year, Godrej Properties had also entered the Noida market in partnership with Lotus Greens to develop a housing project on 36-acre land parcel.
Lotus Greens is developing a 300 acre integrated sports city township. Godrej Properties has tied up with Lotus Greens for a housing project in this township only but it is yet to launch projects.
Established in 1984, Tata Housing is a closely held public limited company and a subsidiary of Tata Sons Ltd.
The company has about 60 million sq ft under various stages of planning and execution and an additional 19 million sq ft in the pipeline. It caters to all consumer segments from value to luxury housing, by offering products ranging from Rs 5 lakh to Rs 14 crore.
Tata Value Homes has launched projects across seven major cities and is developing over 27 million sq ft residential developments.
Disclaimer: No Business Standard Journalist was involved in creation of this content
