Delhi NCR: TARC Ltd, a listed real estate developer, is set to embark on a grand venture with the development of a 1.7 million square feet luxury housing project in central-west Delhi. The top line for this project, named “TARC Kailasa,” is estimated at Rs 4000 crore. Amar Sarin, MD, and CEO of TARC Ltd, announced an investment of Rs 1,200 crore for this prestigious project situated on Patel Road in Kirti Nagar.
Project Details:
- The heart of the city will witness the development of 411 luxury apartments in this project.
- The offerings include 3.5 and 4.5 BHK luxury apartments with ticket sizes of Rs 9 crore and Rs 12 crore, respectively.
- The 3.5 BHK units will span 3440 sqft, while the 4.5 BHK units will offer 4246 sqft of luxurious living space.
- Apartments in the project are priced between Rs 28,000-29,000 per square feet.
Investment and Revenue Projection:
- The total investment for TARC Kailasa is pegged at Rs 1,200 crore, excluding land costs.
- The expected revenue from the project stands at an impressive Rs 4000 crore.
- The construction cost will be met through internal accruals.
Project Timeline and Sales:
- Construction work has already commenced and is anticipated to conclude within the next 42-48 months.
- Remarkably, TARC has sold 30 percent of the project’s apartments, equivalent to Rs 1,200 crore, within the first 3-4 days before the official launch.
- The company aims to achieve a target of selling around 65 percent of inventories in the next month.
Previous Ventures and Future Plans:
- TARC previously launched “TARC Tripundra” in October 2022, a luxury housing project near Delhi International Airport, with an investment of Rs 250 crore.
- The company is set to launch another luxury housing project in Gurugram, offering over 400 apartments, in February 2024.
- TARC anticipates a revenue of around Rs 7500 crore from these three ambitious projects.
Project Features:
- TARC Kailasa will be a high-rise project spread across six acres.
- The development will encompass five towers with heights ranging from 30 to 35 floors.
TARC Ltd continues to redefine luxury living with its visionary projects, and TARC Kailasa stands as a testament to the company’s commitment to excellence in real estate development.
(Credits: Moneycontrol)
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