TARC will invest Rs 4000 crore to build a 1.7 million square foot luxury home complex in Central Delhi

TARC will invest Rs 4000 crore to build a 1.7 million square foot luxury home complex in Central Delhi

TARC will invest Rs 4000 crore to build a 1.7 million square foot luxury home complex in Central Delhi

The business that is listed on stock markets plans to build 411 units in Kirti Nagar's "TARC Kailasa" project.

TARC will spend Rs. 1,200 crore to build a complex of opulent homes in Central Delhi.

TARC Ltd, a listed real estate developer located in Delhi NCR, plans to invest Rs 4000 crore in the development of a 1.7 million square foot luxury home complex in central-west Delhi.

Amar Sarin, the MD and CEO of TARC Ltd, said that the business would spend Rs 1,200 crore to build the opulent "TARC Kailasa" residential development, which is situated on Patel Road in Kirti Nagar, the national capital.

Our project is located right in the middle of the city. As part of this project, we will build 411 flats here. These would be luxurious 3.5- and 4.5-bedroom residences with corresponding ticket sizes of Rs 9 crore and Rs 12 crore. Rs 10 crore is the size of 3.5 BHK," Sarin said on January 11. "The 4.5BHK units will be 4246 sqft, meanwhile the units will be 3440 sqft," he said during the project's introduction.

According to him, the price per square foot for flats in this project would be between Rs. 28,000 and Rs. 29,000.

He said that the project is estimated to generate Rs 4,000 crore in income, with a total investment of Rs 1,200 crore, excluding land costs.

According to Sarin, the business began the job by tearing down a nearby mall. He promised to use internal resources to cover the expense of the building.

The project's construction has started, and it should be finished in the next 42–48 months.

In the last three to four days before to the unveiling, Sarin said, TARC had already sold 30% of the project units, which were valued at Rs 1,200 crore. "In the next month, we hope to sell about 65 percent of the inventory," he said.

With an expenditure of Rs 250 crore, the real estate company has introduced "TARC Tripundra," a luxurious housing project near Delhi International Airport on Bijwasan Road. This was in October 2022.

According to Sarin, the business will also begin construction in February 2024 on a premium residential complex in Gurugram that would have around 400 units.

According to him, the business anticipates earning around Rs 75oo crore from these three projects.

Across six acres, TARC Kailasa is a high-rise project. It will consist of five 30- to 35-story buildings.