Within 36 hours of its introduction, Tata Housing sells 157 plots worth 130 crores in Bangalore

Tata Housing, the Tata group’s real estate business, plans to invest roughly Rs 1,200 crore over the next two years to buy land outright and through joint ventures across key cities for group housing projects and plotted development. According to Dutt, Tata Housing recently launched the ‘Swaram’ project in Devanahalli, Bengaluru, and the plots were sold out within 36 hours of its introduction. Sanjay Dutt, CEO and MD of Tata Realty and Infrastructure, said, “We sold all 157 plots for 130 crore.”

Sanjay Dutt, CEO and MD of Tata Realty and Infrastructure, told PTI that demand for plots has surged dramatically during the epidemic, adding that the company has sold all 157 plots in Bengaluru for Rs 130 crore. “Over the next 12-24 months, we want to invest Rs 1,200 crore in acquiring lands for premium residential areas as well as plotted development,” he said.

One Bangalore Luxury Projects LLP, a joint venture between Tata Housing Development Company Ltd and M S Ramaiah Realty LLP, is developing the Swaram project as part of Tata Housing’s 140-acre township ‘Karnatica.’

The project, which is located in Devanahalli, Bangalore, 15 minutes from the Kempegowda International Airport, features pre-engineered plots with wide roads and energy efficient street lighting. The technology, environmental, and social concerns will be central to the mixed-use development. The idea would be to build a city where technology coexists with nature, “smart” coexists with sustainability, and social connection is promoted by structures like parks and high-street shops. People will be encouraged to not just utilise smart technology, but also to be social and live in close proximity to nature, which will improve the livability index.

“Driven by innovation, we have been sprinting towards producing properties that deliver better value to the increasing needs of new-age house buyers,” Sanjay Dutt, CEO and MD, Tata Realty and Infrastructure, stated. Carnatica is one of our largest projects in Bengaluru, and it will reshape the region’s millennial house buyer demand. North Bengaluru has been a development hotspot, especially since KIAL’s expansion in 2014. The launch of Swaram as the first phase of Carnatica will boost North Bengaluru’s real estate worth.”

After Crescent Enclave in Chennai, this is the company’s second plotted development project. The company is willing to buy property parcels outright as well as arrange joint development agreements (JDAs) with landowners. It’s looking at land banks that range in size from 12 acres to 200 acres. Tata Realty is concentrating its efforts on large-scale projects in both the commercial and residential sectors.