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Mega-Township Projects in Gurgaon, Bangalore
Friday, September 07, 2007

Mega-townships are enjoying the patronage of private developers and investors, and state governments are also actively promoting these self-contained zones. Recently, the Karnataka Government approved 11 integrated townships in Bangalore at an investment of Rs.25, 000 crore.

A state-level high committee recently sanctioned 59 real estate projects which entailed an investment of Rs.60, 000 crore. American and Singapore-based companies would be venturing into partnerships with local developers for the projects.

National and international players have been the go-ahead for these IT and biotechnology-driven townships which would cover 100 to 200 acres on Sarjapur Road, Whitefield, Magadi and Bidadi. The government hopes to stem the flow of investment from Bangalore to Hyderabad and Chennai by providing adequate infrastructure through these townships.

In Gurgaon, India’s first venture-funded real estate company, QVC Realty will invest Rs.2,500 crore in two townships.

This would be the Bangalore-based company’s first venture in North India. 200 acres of land in Gurgaon have already been acquired by QVC, and the funding has been sourced from IL&FS Investment Managers Ltd.

Focused on residential projects, the company is actively pursuing a venture in Bangalore, and is looking for land in Hyderabad, Chennai and Pune.

Related Readings

»Gurgaon SEZ land acquisition at market rates by DLF
»Property Prices Level Off in Bangalore

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