Tata Housing to invest Rs 300 cr on housing project in Chennai
New Delhi: 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.