Tata Realty Sells Out 157 Plots Within 36 Hours in Swaram, Devanahalli, Bengaluru Earning INR 130 Cr

Tata Housing has sold plotted developments in Devanahalli, Bangalore worth INR 130 Crore in 36 hours flat creating a buzz in the Bangalore real estate market and the Indian real estate market overall.

Now of course - Tata Housing, the Tata group's real estate arm, plans to invest approximately Rs 1,200 crore over the next two years to acquire land outright and through joint ventures in major cities for group housing projects as well as plotted development, which has gained traction in the aftermath of the COVID pandemic.

Apparently the demand for plots has grown dramatically during the epidemic and the fact that Tata Realty has sold all 157 Bengaluru plots for Rs 130 crore indicates the willingness of people to buy planned plooted developments especially from a trusted real estate developer like Tata Housing.

Tata Sons wholly owns Tata Housing Development Company Ltd and Tata Realty and Infrastructure Ltd.

Tata Housing recently launched a project called 'Swaram' in Bengaluru's Devanahalli neighbourhood and all the plots sold out within 36 hours of the project's introduction.

All 157 plots were sold for Rs 130 crore and the project is a component of Tata Housing's 140-acre 'Carnatica' township, which is being constructed by One Bangalore Luxury Projects LLP, a joint venture between Tata Housing Development Company Ltd and M S Ramaiah Realty LLP.

This is the company's second plotted development project, after Crescent Enclave in Chennai.

The real estate company buoyed by the success of its plotted development projects is now seeking to offer plots in key cities throughout the country, including Delhi-NCR, Mumbai, Bengaluru, Pune, and Kolkata.

Tata Realty now wants to spend Rs 1,200 crore over the next 12-24 months in order to buy land for luxury residential spaces as well as planned development. 

The corporation is willing to acquire land parcels outright or via joint development agreements (JDAs) with landowners.

It is investigating land banks ranging in size from 12 to 200 acres.

Tata Realty is concentrating its efforts on large-scale projects in both the commercial and residential sectors.

Additionally, a 20-acre block of land along Sohna Road in Gurugram, Haryana, has been designated for plotted construction.

By FY 2023-2024, Tata Realty intends to generate 20% to 30% of income from plotted projects.

The Tata Realty team has been racing forward, driven by innovation, to create houses that better meet the increasing demands of new-age home purchasers. Carnatica is one of their largest projects in Bengaluru, and it will reshape the region's millennial house buyer demand.

Residential complexes, business establishments, parks, green areas, clubhouses, and other facilities will be located on the 140-acre property.

Tata Realty has produced around 16.8 million square feet of commercial space and currently has approximately 12 million square feet of development and planning underway.