Tata Realty plans to invest Rs 4,000 cr in real estate business
24 Aug 2021
2 Min Read
CW Team
Almost all realty companies began showing positive results in terms of demand pick-up in the last quarter. While revenge buying is a factor, the essential element is the home loan rates that are at the lowest in history. A lot of home buyers are looking for distinguished wisdom in locking themselves into long-term mortgages at these rates.
The real estate development arm of Tata Group, Tata Realty and Infrastructure, has aggressive plans on the realty front. Tata Realty is planning to invest Rs 4,000 crore in the real estate business. In this, Rs 2,000 crore will be spent on residential housing projects, and the other Rs 2,000 crore will be spent on commercial projects, and Tata Realty expects to invest this amount in the next two years.
According to the reports, Tata Realty is witnessing an increase in demand for ready-to-move-in residential properties after the distressing experience of a lot of builders leaving the construction projects incomplete in the past few years.
The aggression is apparent because Tata Realty raised the count of their construction workers to 5,000 from 3,500 during the pandemic.
The realty firm recorded a revenue of Rs 1,500 crore in FY21, which is 15% more than revenues in FY20. They sold 1,300 units in total during FY21, with record sales in Q4 in terms of volume. It motivated Tata Realty to go aggressive with their future projects with an investment of Rs 4,000 crore. Tata Realty anticipates a growth of another 20% from current levels in FY22.
Currently, Tata Realty has four residential projects under construction which include 2,500 units in total spread across NCR-Delhi, Kolkata and Mumbai. Their residential portfolio consists of around 45 million SFT under construction. Tata Realty also has three commercial projects under construction with 7 million SFT of rented and owned spaces. In India, Tata realty has a track record of 35 years.
Also read: Primus to launch brand new real estate project in Bengaluru
Also read: Marathon Group, Adani Realty complete phase 1 of Monte South project
Almost all realty companies began showing positive results in terms of demand pick-up in the last quarter. While revenge buying is a factor, the essential element is the home loan rates that are at the lowest in history. A lot of home buyers are looking for distinguished wisdom in locking themselves into long-term mortgages at these rates.
The real estate development arm of Tata Group, Tata Realty and Infrastructure, has aggressive plans on the realty front. Tata Realty is planning to invest Rs 4,000 crore in the real estate business. In this, Rs 2,000 crore will be spent on residential housing projects, and the other Rs 2,000 crore will be spent on commercial projects, and Tata Realty expects to invest this amount in the next two years.
According to the reports, Tata Realty is witnessing an increase in demand for ready-to-move-in residential properties after the distressing experience of a lot of builders leaving the construction projects incomplete in the past few years.
The aggression is apparent because Tata Realty raised the count of their construction workers to 5,000 from 3,500 during the pandemic.
The realty firm recorded a revenue of Rs 1,500 crore in FY21, which is 15% more than revenues in FY20. They sold 1,300 units in total during FY21, with record sales in Q4 in terms of volume. It motivated Tata Realty to go aggressive with their future projects with an investment of Rs 4,000 crore. Tata Realty anticipates a growth of another 20% from current levels in FY22.
Currently, Tata Realty has four residential projects under construction which include 2,500 units in total spread across NCR-Delhi, Kolkata and Mumbai. Their residential portfolio consists of around 45 million SFT under construction. Tata Realty also has three commercial projects under construction with 7 million SFT of rented and owned spaces. In India, Tata realty has a track record of 35 years.
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Also read: Primus to launch brand new real estate project in Bengaluru
Also read: Marathon Group, Adani Realty complete phase 1 of Monte South project
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