Tata Realty to develop 8 properties throughout India.

Tata Realty and Infrastructure Limited, a wholly owned subsidiary of Tata Sons will own, build and manage real estate and infrastructure projects. These projects include special economic zones, software parks, airports, and bridges among others. For this it plans to rope in a strategic partner. For airport projects, it has tied up with Changi Airports, a Singapore based firm for developing Greenfield as well as bid for modernization of airports. On October 30, 2007 it announced an equal joint venture with Jafza (Jebel Ali Free Zone International) to develop and operate a chain of business and logistics parks across India. $750 million has been raised for this venture. The amount has been raised through an offshore fund registered in Mauritius. The investors to this fund include insurance companies, pension funds, government entities from US, Japan, Europe, Middle East and Asia.
The company plans to develop the land banks available with its different group companies like Tata Motors, TCS, Voltas and Rallis so that it can unlock the value. Recently it entered into agreement with TCS, as per which it will develop eight properties at Mangalore, Kolkata, Pune, Ahmedabad, Nagpur, Hyderabad, Kochi and Triruvananthapuram. The buildings will be developed and maintained by Tata Realty and Infrastructure and TCS will be given a lease.