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| Now, Tatas to launch housing project in Bengal |
| BS Reporter / Kolkata Apr 17, 2009, 00:11 IST |
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Five months after the Tatas shifted their small car project from West Bengal, the group is set to launch a new project in the state from the Tata Housing stable.
In two weeks, the first phase of an integrated township spread over 50 acres at Rajarhat, close to Kolkata, would be launched, said informed sources. It will be a combination of residential, commercial and retail, the first phase being the residential one.
Refusing to divulge the pricing of apartments, sources said the property would offer premium facilities and was targeting the segment between the middle income (MIG) and the high income group (HIG). The starting range would be lower than Rs 60 lakh. The company has already gone for a ‘soft launch’ with a ‘teaser’ campaign.
The project will mark Tata Housing’s foray into West Bengal. It will be the first new project from the Tata group after the pullout from Singur.
Tata Housing already has the 50 acres in possession. The company bought the land from the West Bengal Infrastructure Development Corporation, the nodal agency for allotting land in New Town, Rajarhat.
Sources said the land was bought about two years earlier but work could not start due to slowdown in the market. It was around the same time that the group began facing problems with the land in Singur, the site of the small car project.
It is not known at what price Tata Housing bought the land. Land prices in Rajarhat had gone through the roof prior to the economic meltdown, pushing many IT companies who were eyeing land in the area to reconsider plans.
“In Rajarhat, we are looking at bringing our township expertise, manifested in Jamshedpur,” said a source. The residential project has been christened “Eden Court” and is situated in Action Area II of New Town, in proximity to the main road. The complex would be spread over five acres and would have three towers with two- and three-bedroom apartments. Two of the towers would have G+18 floors.
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