Bhubaneswar: Real estate major Tata Housing Development Company on Wednesday announced the launch of Ariana, Bhubaneswar's first integrated residential complex at Shankarpur.
"Over the last few years, real estate as an industry has gained momentum across Odisha with improvements in infrastructure like the new international airport here," said Managing Director and CEO of Tata Housing, Brotin Banerjee.
Moreover, Bhubaneswar is one of the main centres of trade which showcases tremendous potential of good purchasing power and demand for premium quality residential properties amongst end users as well as investors, he said.
Given its proximity and connectivity to metro cities such as Kolkata, Bhubaneswar is showcasing a great appetite for high-end living.
Ariana, which would be a luxury residential gated community with 12 towers ranging from 14 to 19 stories, is expected to be one of the land mark projects of international standards, Banerjee said.
The project, located 10 km from Biju Patnaik airport and spread over 12 acres and encircling large water bodies would be developed in association with Bhubaneswar Development Authority (BDA).
It has been designed by international architects Woods Bagot and its masterplan certified by Indian Green Building Council.
Established in 1984, Tata Housing is a closely held public limited company and a subsidiary of Tata Sons Limited. Tata Sons Limited holds 99.86 percent of equity share capital of the company, company sources said.
Tata Housing is now developing large townships and differentiated theme based projects in major and mini metros. As a comprehensive real estate developer of choice, Tata Housing straddles across all consumer segments from value to luxury housing, by offering products ranging from Rs 5 lakh to Rs 14 crore, the sources said.