Making the most out of the available business opportunities in the country’s real estate sector, Tata Housing Development Company, which has projects ranging from affordable to luxury, will add 6-10 million sq. feet of new development area this year, Managing Director and Chief Executive Officer, Brotin Banerjee said.
Elaborating that it will acquire new projects of about 6-10 million sq. ft in this year, but will not monetize as it would take another 18 months or so for the approval process. The player in the past two-three years has been a muted demand for the industry but, if it is rightly priced and packaged, there will be enough demand in the near future. Currently, the company has more than 60 million sq. ft under construction across the country, including two overseas projects, one in Maldives and another in Sri Lanka, he added.