The Hindu Business Line : And now, education malls in the offing

Taking forward the concept of dedicated malls, the GTM Group will set up 10-12 malls across the country for the education sector in the next few years.

The project will leverage the current boom in educational institutes and the initiative is to make India an education hub in the future.

To start with, the Delhi-based company is constructing a 10,000-sq-m mall in Jaipur, at an investment of Rs 60 crore. The mall will bring as many as 60 colleges and institutes under one roof. "It will be a hub of educational bodies and will not have more than two colleges of the same stream," said Mr Avinash Keswani, Vice-President, Marketing, GTM Builders and Promoters Pvt Ltd.

On the choice of Jaipur, Mr Keswani said, "The city attracts students from not just Rajasthan but also from Delhi, Madhya Pradesh and other adjoining States. It has been witnessing a 20-30 per cent annual growth in student arrivals for the last several years and the growth is likely to continue."

The company will provide pick-up and drop facility for students for up to five km radius.

The property is slated to be ready by the end of 2009, when the company will look at setting up more such educational hubs in the country. The company has acquired land and construction will begin by early next year.

Other properties to be developed include "Golf Greens" in Jaipur. It will be spread over 14 acres and will have 92 per cent of open land. It will have a total of 80 premium dwelling units to be priced at Rs 1.15 crore each.

GTM's turnover stood at Rs 700 crore last fiscal and is expected to touch Rs 1,200 crore by the end of the current fiscal.

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