Tata group's real estate arm Tata Housing has planned to invest ₹1,200 crore over the next two years to acquire land outright and through joint ventures across major cities to develop group housing projects as well as plotted development, which has gained traction amid the COVID pandemic. CEO & MD Sanjay Dutt informed that the demand for plots has increased significantly during the pandemic, as such, the company has sold all 157 plots in Bengaluru for ₹130 crore.
Tata Housing has recently launched the project 'Swaram' at Devanahalli in Bengaluru. The plots were sold out within 36 hours of its launch as the project is a part of Tata Housing's 140-acre township 'Carnatica' developed by One Bangalore Luxury Projects LLP, a joint venture between Tata Housing Development Company Ltd and M S Ramaiah Realty LLP. This is the second plotted development project of the company after Crescent Enclave in Chennai.
Buoyed by the success of its plotted development projects, the company is now looking to launch plot projects across all major cities like Delhi-NCR, Mumbai, Bengaluru, Pune and Kolkata. Regarding the newest project, in the next 12-24 months it will acquire lands for premium residential spaces along with plotted development. The company is open to outright acquisition of land parcels as well as forming joint development agreements (JDAs) with landowners and is currently exploring land banks ranging from 12 acres to 200 acres.