Tata group’s realty arm Tata Housing Development is acquiring land in
Bangalore from power transmission company Alstom T&D India for Rs 120 crore
to develop its second luxury project in the southern city.
"Tata Housing entered into an agreement with Alstom T&D India to
buy its manufacturing unit spread across 20 acres in Bangalore for Rs 120
crore," Tata Housing said in a statement, adding, the acquisition is
expected to be completed in three months.
Tata Housing had launched its first luxury project in Bangalore, ‘The
Promont’, in 2011. US-based Portman Holdings has reportedly invested around Rs
65 crore in this project for a minority stake in November last year.
Currently, Tata Housing has its footprint in Mumbai, Lonavala, Talegaon,
Pune, Ahmedabad, Goa, Gurgaon, Chandigarh, Bangalore, Chennai, Kolkata and
Bhubaneswar. Besides, it is also looking to augment its presence in tier I and
II cities.
Last week, Alstom T&D India, an arm of French conglomerate
Alstom, had said it is selling its property in Bangalore to an unnamed large
Indian business group for Rs 120 crore. This unit was previously used for
manufacturing instrument transformers
tata projects are always the one u look for..as tata being the most trusted organisation and everyone wants to associate with them..
ReplyDelete