Aiming at a pan India presence, real estate developer TATA Housing Development Company, a division of the USD 70.8 billion TATA Group, announced its foray into this southern metropolis with an INR 1,500 crore project.

Mr Brotin Banerjee CEO & MD of TATA Housing said that “We would like to announce the first landmark development in Chennai Crescent Lake Homes. It is our first project in Chennai and part of integrated development.”

He said that in the first phase, the company would invest around INR 650 to INR 700 crore for developing 960 apartments, including one, two and three bedrooms. The first phase will be completed by 24 months and in the second phase the company proposed to build row type villa s, three and four bedroom apartments at an additional investment of INR 750 crore.

The project would come up in the industrial corridor of Oragadam situated about 45 kilometers from here. He added that “It is a developing area with lot of MNCs present in the locality.”

(Sourced from PTI)