Taj-Parent IHCL Ventures Into Branded Residences with Chennai Launch

The Indian Hotels Company Limited (IHCL) is diving into the branded residences market with its first Taj Branded Residences in Chennai.

"This is a very lucrative market segment in India, with over INR 220 billion ($2.6 billion) in market value today and showing double-digit growth year-on-year. This helps IHCL diversify its revenue streams and leverage the strong brand equity of Taj," said Puneet Chhatwal, managing director, CEO, and executive director of IHCL, during an earnings call on Friday.

The Taj Branded Residences in Chennai will feature 123 residences and a hotel with 235 rooms spread over 23 floors.

This marks IHCL's first venture into the branded residences market, although it has experience with long stays through Taj Wellington Mews. "We get a br