The Tata group is working on a plan to unlock value from unused land belonging to various group companies by developing them through its two realty subsidiaries, Tata Housing and Tata Realty.
According to two persons familiar with the situation, an internal study by the salt-to-telecom conglomerate has identified excess land parcels of 800-1,000 acres across the country on which the group’s two realty companies may develop commercial and residential properties. Companies, such as Tata Motors, Tata Tea, Tata Steel and TCS, among others, have considerable land which could be developed.
Tata Housing has already initiated discussions with some group companies for this purpose, said one of the persons, adding that the process will take some time, as most of the firms are listed entities, which necessitates approval from the respective boards.
Times of India