Tama Home has announced its plans to invest of Rs 6,000 crore in partnership with Developers Group to construct of 12-18 projects in next five years.
Tama Home, builds around 10,000 homes a year, with a turnover of approximately Rs. 10,000 cr. Its JV partner Singapore-headquartered Developer Group, is a 100 per cent FDI Company, and is already engaged in the Indian realty sector, is promoted by Japanese investors and managed by Indian professionals.
This joint venture will initially build three housing projects, two of which would be townships projects of about 3,500 units, in cities like Ludhiana, Visakhapatnam and Chennai.
Group’s president and CEO emphasized upon “India’s tremendous potential for growth in housing. And their desire to replicate Suzuki story in India,”. Tama home is keen in bringing the earthquake-proof technology to the Indian realty market.
Two township projects will soon be launched at Ludhiana and Visakhapatnam. And a housing project at Chennai would come up by mid 2015
This JV is also exploring possibilities to develop smart cities, commercial, hospitality projects.