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Tata Housing acquires land for Bangalore realty project

Tuesday, 24 Dec 2013
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Tata Housing, a Tata Group realty firm, has acquired 20 acre land in Bangalore, Karnataka, for developing a luxury housing project at the site.

 

The company has inked an agreement with Alstom T&D India to buy its manufacturing unit, spread across 20 acre in Bangalore, for Rs 120 crore.

 

The agreement with Alstom T&D India is part of the expansion strategy of the company and is subject to the mutual satisfaction of terms, conditions and obligations mentioned in the agreement for sale. Further, the deal is likely to be concluded upon execution of a sale deed in three months' time or earlier.

 

Currently, Tata Housing has 70 million sq ft of area in various stages of planning and execution and an additional 19 million sq ft in the pipeline.

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