The Tata Housing Development Company Ltd and its subsidiary Smart Value Homes are developing housing projects comprising 50 million sq ft area in nine cities across India at an investment of about Rs.30,000 crore, a top company executive said Thursday.

“We are currently developing housing projects on 50 million sq ft area in nine cities across the country, including Bangalore, Ahmedabad, New Delhi, Pune and Kolkata. On 30 million sq ft, construction has already started; another 20 million sq ft area has been tied up,” Brotin Banerjee, managing director and CEO of Tata Housing Development Company Ltd, told reporters here.

In Kolkata, all the flats in Eden Court and Eden Court-Primo for the upper income segment in Rajarhat area had already been sold out, he said.

Another housing project on 3.5 million sq ft for the upper income group in the city would be announced in April-May and construction work would commence in October.

“Total investment in the project is about Rs.1,500 crore. It is a joint development project with land owners,” he stated.

Tata Housing Development Company is interested in launching Nano home project to offer low cost residential properties, but land is a constraint.

“We are trying to get a suitable land for Nano flat project in Kolkata. But land is expensive here and where we are getting low cost land there is no infrastructure,” he added.

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