They are planning to invest between Rs 1,500-2,000 crore, by the end of this year. Tata Value launched Adwita under development manager model with Kolkata-based Square Four Group. In this deal Tata Value will undertake the role of project manager for marketing, consultancy, designing, constructing and selling the units.
The total investment in the project is estimated to be close to Rs 1800 crore. This will be Tata Value's first real estate project under the development management mode. This will be a mixed used development and will be spread over 25 acres of land on B T Road in North Kolkata.
Tata Housing is planning to invest nearly Rs 2,000 crore in real estate projects by December 2015. About half of the investments would be in Tata Value Homes, which focuses on affordable housing segments.