TARC to Invest ₹1,200 Crore in Expansive Luxury Housing Venture in Central Delhi

Leading real estate firm, TARC Ltd, has unveiled plans to channel approximately ₹1,200 crore into the development of an opulent housing project, encompassing over 400 units in Central Delhi. Dubbed "TARC Kailasa," the project spans 1.7 million sq ft across 6 acres on Patel Road, Kirti Nagar, featuring five 35-floor high-rise towers designed by Singapore-based architectural firm, Andy Fisher Workshop. Construction will be spearheaded by the renowned Arabian Construction Company.

Amar Sarin, TARC's MD and CEO, stated, "We have launched a luxury housing project in the heart of Delhi, developing 1.7 million sq ft with a total investment of ₹1,200 crore, excluding land costs." The land, held by the company for 15 years, has been converted to residential use.

Construction has commenced, with an expected completion timeline of 42-48 months. The project includes 418 housing units, with 40% dedicated to 3BHK and the remainder to 4BHK configurations, priced between ₹9 and 12 crore per flat, ranging from 3440 sq ft to 4246 sq ft.

Sarin revealed that apartments worth ₹1,200 crore have already been sold, targeting a further 60-65% inventory sales in the next month, projecting an overall revenue potential of ₹4,000 crore. The venture attracts a diverse clientele, comprising both end-users and investors.

With a surge in demand for luxury housing due to rising disposable incomes and economic growth, TARC witnesses interest from individuals upgrading homes, particularly those transitioning from low-rise residences to high-rises, seeking a community living experience. The majority of demand hails from South and West Delhi, alongside NRIs from Singapore, the Middle East, and London.

Anticipating continued success, TARC is gearing up to launch another luxury project in Gurgaon next month, aligning with evolving market trends and consumer preferences.