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Realty firm Eldeco Group will invest about ?300 crore to develop 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.
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.
The company is looking for land parcels to develop such vacation home projects across many states including Himachal Pradesh, Uttarakhand and Goa. The company is also open to form joint ventures with land owners to expand this vertical.
