Eldeco Group has extended its second-home development arm, Terra Grande, into Kalth, a locality in Solan district, Himachal Pradesh. Alongside its ongoing developments in Sirmaur and Narendra Nagar near Rishikesh, Terra Grande plans a 2.5-acre luxury development in Kalth, Solan, an 8.5-acre wellness-focused villa community near Rishikesh, and a new 12-acre luxury second-home project in Sirmaur. Collectively, these five projects span approximately 61.5 acres and will comprise more than 100 luxury residences, strengthening Terra Grande's presence across India's emerging mountain and wellness destinations. The Kalth project arrives on the back of demonstrated demand: Terra Grande's ongoing 29-acre development in Sirmaur, Kasauli Hills, saw Phase I comprising 39 luxury villas achieve a complete sell-out. Those villas were priced between INR 8 crore and INR 10 crore.
Terra Grande by Eldeco is the luxury second-home vertical of the Eldeco Group, dedicated to creating thoughtfully designed residential communities in India's most inspiring mountain and wellness destinations. It is guided by principles of conscious living, combining architecture-led design, low-density planning, wellness-focused amenities, and hospitality-inspired experiences. Buyer demand for these communities has been driven by preferences for privacy, wellness-oriented living, access to nature, and design-focused environments, characterised by low-density planning and amenities built around outdoor living. A 2.5-acre parcel at Kalth fits this same template — smaller in scale than the flagship Sirmaur project but built on the identical low-density, nature-facing brief that has defined Terra Grande's Himachal launches.
The Eldeco group was founded in 1975 in Agra by S. K. Garg to professionally undertake real estate and construction projects. The group went on to establish a strong presence in Lucknow, developing a 200-acre township in joint development with the Lucknow Development Authority — one of the first instances of a Public-Private Partnership in the country. Expansion into the Delhi NCR followed under Pankaj Bajaj's Eldeco Infrastructure and Properties Ltd, and the group later moved into Panipat, Sonepat, Ludhiana, Jalandhar and other North Indian towns. Today the Group is synonymous with timely and quality delivery in 20 cities in North India and has handed over 200 projects spanning large-format integrated townships, high-rise condominiums, industrial estates, malls and office buildings. Its aggregate delivered area stands at more than 60 million sq.ft. with over 30,000 satisfied customers. Terra Grande operates backed by this four-decade legacy in real estate development.
Eldeco's move into Himachal Pradesh's second-home market is not a standalone bet. HDFC Capital, the real estate private equity arm of the HDFC Group, has committed a strategic investment of ₹1,500 crore in a joint venture with Eldeco Group to develop 18 residential projects across tier II-III cities, spanning a development area exceeding 10 million square feet with a combined revenue potential of about ₹11,000 crore. That platform explicitly names Kasauli, Himachal Pradesh, alongside Panipat, Sonipat, Rudrapur and Ludhiana as target towns. Eldeco Group's Chairman and Managing Director, Pankaj Bajaj, has said there is not enough housing supply and that the platform with HDFC Capital will help address this demand in cities of North India. Kalth sits within the same Solan-Kasauli corridor this capital is targeting, giving the Terra Grande project institutional backing beyond a single developer's balance sheet.
Solan's pull for a second-home buyer is largely about position on the map. The town is strategically located on NH-5, between Chandigarh and Shimla. Chandigarh is roughly 68 km away, and Kasauli itself is about 28 km from Solan town — placing Kalth within a compact, drivable radius of both a major North Indian city and a well-known hill station. Good connectivity and the comparatively short distance to Chandigarh, combined with a pleasant climate, have driven real estate activity in Solan. As the gateway to Shimla and Kasauli, Solan functions as a vital cog of connectivity in the region. The presence of the heritage Kalka-Shimla railway further enhances accessibility for both tourists and residents, sustaining property demand.
Regulatory data backs up the intensity of activity here: Real Estate Regulatory Authority of Himachal Pradesh figures show that an overwhelming 58% of new projects in the state are being developed in Solan, well above the 26% share for Shimla, the state capital. Property prices in Solan also remain cheaper compared to Chandigarh, a gap that matters to second-home buyers comparing entry costs across the region. This is the demand backdrop into which Eldeco has placed its Kalth project — a district already absorbing the majority of Himachal's new residential supply, anchored by an established highway and rail corridor rather than a speculative, hard-to-reach location.
