Tata Housing will invest Rs 300 crore on developing a new housing project near Chennai.
The project ‘Santorini’, spread over 18 acres, comprises 1,000 housing units. Located on Chennai-Bangalore highway at Sriperumbudur, the project will be developed by its subsidiary Tata Value Homes Ltd.
Tata Housing in a statement said it would “invest Rs 300 crore in Chennai’s first Spanish themed township”.
Prices of the apartments are in the range of Rs 24-52 lakh, depending upon the size.
“Sriperumbudur has witnessed rapid industrial growth over the years, with major global players in the manufacturing segment venturing into the region,” Tata Housing MD & CEO Brotin Banerjee said.
Tata Housing is a closely held public limited company and a subsidiary of Tata Sons Ltd, which holds 99.86 percent of stake in the company.
Tata Value Homes, which is a wholly owned subsidiary of Tata Housing.
Tata Housing has 70 million sq ft under various stages of planning and execution and an additional 19 million sq ft in the pipeline.
PTI