Tata Housing, Arvind team up to build township near Ahmedabad
13 May 2011
Tata Housing Development Company and lifestyle apparel and textiles company Arvind Limited have joined hands to set up 50:50 joint venture to develop an integrated township near Ahmedabad.
The project to be set up over an area spread over 134 acres near Ahmedabad, will have a built-up area of more than nine-million square feet.
Located on the western outskirts of Ahmedabad, the township will include residential, commercial and retail spaces apart from a hospital, a school and other civic amenities, a press release said today.
"As a part of a long-term strategy, we are looking at establishing our presence in the emergent Tier I and Tier II cities," Brotin Banerjee, managing director and CEO of Tata Housing Development Company, said.
"The project is a significant step towards our mission to create and deliver real estate value to consumers. Tatas bring in immense credibility and Arvind with its 80-years legacy brings in immense amount of trust well needed for the real estate industry," added Kamal Singal, CEO of Arvind Real Estate.