Tata Housing launches Rs 2,000-cr luxury project in suburban Mumbai

Tata Group real estate arm TataHousing Development today launched a luxury residentialproject in the northeastern suburb of Mulund.

The project, named Gateway Towers, is spread across 8.5acres and is a part of the 19-acre redevelopment project.

[caption id="attachment_1084087" align="alignleft" width="380"] Reuters[/caption]

"We have invested around Rs 2,000 crore for the entireredevelopment project across 19 acres, out of which thesaleable component would be around 8.5 acres, where we will bedeveloping six luxury residential towers," a company sourcesaid.

The company, which has not revealed the number of unitsas well as the per-unit cost, will develop six residentialtowers, ranging from 31 stories to 41 stories.

Managing director and CEO Brotin Banerjee said, "Thisproject is in line with our strategy of creating marqueeprojects in major metros."

More from Business

Mulund has witnessed an increasing demand for luxuryhousing from consumers and investors because of proximity tosouth Mumbai and fast growing Thane areas, he said.The towers are designed by Callison. The construction isexpected to be completed in four years.

PTI