Eldeco Group to invest Rs 300 cr on housing project in Himachal Pradesh

Realty firm Eldeco Group will invest about Rs 300 crore to develop a ultra-luxury housing project, comprising 80 villas, in Himachal Pradesh to tap rising consumer demand of high-end residential properties in hills. Delhi-based Eldeco Group has bought 30-acre land in Sirmaur district to develop ultra-luxury holiday homes and also established a separate subsidiary 'Terra Garden' to develop such projects across tourist locations. "We acquired 30 acre land parcel on hill few years ago. We will be developing 80 villas in this project," said Amar Kapoor, CEO of Terra Grande by Eldeco Group. The company has launched 35 villas for sale in the first phase. The starting price is Rs 5.5 crore, he added. Kapoor said the company will be investing about Rs 300 crore to develop this project. As per the declaration in registration with RERA, Eldeco Group's arm Terra Grande plans to complete this project in seven years. Kapoor said the company is looking for land parcels to develop such vacation

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