Business Daily from THE HINDU group of publications
Friday, May 11, 2007
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Business Daily from THE HINDU group of publications Friday, May 11, 2007 ePaper |
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Industry & Economy
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Urban Development Sahara Infrastructure plans 217 townships Deepak Goel
Lucknow May 10 Lucknow-based Sahara Infrastructure and Housing (SIH), part of the Sahara Group, plans to develop around 11,000 hectares for 217 townships across the country. The projects would be spread over 100-300 acres each and together would have 30.3 lakh sq m of built-up commercial area and 1008.4 lakh sq m of built up residential area. In the first phase, the company plans to develop102 townships and the remaining 115 in the second phase. These would come up in tier I, II and III cities. Speaking to Business Line at the launch of one of the townships, the first in the series, Mr Sushanto Roy, Head, SIH, said, "We have acquired land completely for 75-80 projects and partly for 125. We have spent Rs 1,500-1,700 crore for the acquisition." The total revenue out of the townships is going to be around Rs 240,000 crore, he added. On the Aamby Valley project in Maharashtra, Mr Roy said the company planned to increase its size from the current 10,000 acres. "We want to take however much land is available in the vicinity for increasing the size of the project," said Mr Roy. Only 300-400 homes have been sold in Aamby Valley until last month. About 3,000 homes were to be built in the first phase and 6,000-7,000 homes in total.
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