Delhi NCR-based real estate developer TARC Ltd is set to embark on a substantial venture, unveiling plans for a luxury housing project named “TARC Kailasa” in central-west Delhi. With an impressive top line projection of Rs 4000 crore, the company will invest Rs 1,200 crore in developing this opulent residential complex situated on Patel Road in Kirti Nagar.
Amar Sarin, MD, and CEO of TARC Ltd, highlighted the strategic location of the project, emphasizing its central position in the heart of the city. The ambitious venture will encompass the construction of 411 apartments, offering 3.5 and 4.5BHK luxury residences with ticket prices ranging from Rs 9 crore to Rs 12 crore. The spacious units will vary in size, with 3.5BHK measuring 3440 sqft and 4.5BHK spanning 4246 sqft.
Sarin revealed that the apartments in TARC Kailasa would be priced between Rs 28,000 and Rs 29,000 per square foot. The total investment, excluding land costs, is estimated at Rs 1,200 crore, with an anticipated revenue of Rs 4000 crore. The construction project, already underway, is expected to be completed within the next 42-48 months.
The MD and CEO disclosed that TARC had already achieved significant sales success, with 30 percent of the project’s apartments, valued at Rs 1,200 crore, sold within the first 3-4 days prior to the official launch. Sarin expressed confidence in achieving a sales target of approximately 65 percent of inventories within the next month.
Sarin mentioned that TARC had previously launched another luxury housing project, “TARC Tripundra,” near the Delhi International Airport in October 2022, with an investment of Rs 250 crore. Additionally, the company plans to unveil another luxury housing project in Gurugram, offering over 400 apartments in February 2024, projecting a combined revenue of around Rs 7500 crore from these three projects.
TARC Kailasa, a high-rise project spanning six acres, will consist of five towers, each ranging from 30 to 35 floors. The financing for construction will be facilitated through internal accruals.