Tata Group's realty arm Tata Housing Development Company has joined hands with the Mumbai Metropolitan Region Development Authority (MMRDA) to invest Rs 2,000-crore for a rental housing project near the metropolis.
"We plan to launch a large rental housing project near Mumbai before Diwali. We have got approvals for the project from the MMRDA," Tata Housing Development Company Managing Director and Chief Executive Brotin Banerjee told PTI.
However, Banerjee declined to reveal the time-line and exact investment in the project.
According to sources, that the investment would be around Rs 2,000-crore.
The project will come up on a 25-acre land between Thane and Bhiwandi, in the neighbourhood of the city, and is expected to be ready in three to four years, sources said.
