Tata Housing takes up Rs.800 cr projects

Adding to its project portfolio in the realty sector, Tata Housing has decided to build 10 projects worth Rs.800 crore during the current fiscal, Managing Director (MD) and Chief Executive Officer, Brotin Banerjee said elaborating that the upcoming projects will be a combination of green field and brown field projects. The implementation of Real Estate (Regulation and Development) Act (RERA) and goods and services tax (GST) is likely to spur consolidation in the sector, which presents an opportunity for Tata Housing to expand its portfolio. There is already a slowdown in the sector and now with the addition of new regulations of RERA and GST, those with access to very large land banks or projects and not in a position to sustain in future are looking at consolidating and the company sees this as an opportunity for expanding portfolio, he added.