Mumbai, India, February 19, 2007 - Leading Indian industrial group Tata is to set up a new company Tata Realty & Infrastructure with a corpus of $1 billion to invest in real estate in the country.

According to news reports, apart from the Tata group, foreign investors too would participate in the fund. Tata Realty will invest in residential and commercial real estate projects, SEZ, and infrastructure projects such as bridges, ports and airports.

Dinesh Chandiok, the former chief executive officer of Ansal Properties, has been roped in to head Tata Realty.