Charter City concept cutting the chord in India

The following investments in the area of integrated townships in India indicates the future of this market:

·         ICICI Venture and Tishman Speyer’s 50:50 JV, TSI Ventures, in consortium with Nagarjuna Constructions, are developing a 400 acre integrated township at Tellapur, Hyderabad. The township will be a mix of commercial and residential complexes as well as recreational spaces. When completed, the development will be home to over 30,000 people and will provide office space that will generate over 35,000 jobs.

·         The Ozone Group is planning an integrated township on 43 acres in Chennai for Rs 300 crore. According to a press release, the deal is backed by HDFC and Reliance.

·         Malaysian property developer Sunway City Berhad has partnered with Hyderabad based Opus Developers & Builders on a Rs 800 crore township on 14 hectares of land near Hitec City in Hyderabad.

·         Ansal Properties and Infrastructure has signed an agreement with Abu Dhabi-based investment firm Noor Capital and its advisor, India Realty, for setting up two township projects in Uttar Pradesh, in Agra and Ghaziabad. Ansal Housing is to develop a 100-acre township in Rewari, Haryana.

·         Private equity investor GE Capital signed a deal worth Rs 250 crore with Paranjape Schemes for developing an integrated township project in Pune.

·         Fire Capital Fund Mauritius, a global venture capital fund, plans to invest up to $250 million to develop integrated townships in 10 cities. The fund made its first investment in the Indore-based M Jhaveri Group in the 137-acre upcoming township Silver Springs being developed by it.

·         DLF is making a foray into Kolkata and is planning expansion into cities like Pune, Bangalore, Chennai and Hyderabad. The company recently launched a Rs 600 crore, 26.3 acre integrated township project in Hyderabad. DLF has entered into an agreement with the Kolkata Metropolitan Development Authority (KMDA) to build a new township in Dankuni, Hooghly district, West Bengal with an investment of Rs 33,000 crore. This would make the Dankuni township the largest public-private-partnership (PPP) project in the country.

·         Parsvnath Developers has announced the Parsvnath City in Dharuhera, Haryana, spread over 114 acres. The township will be close to National Highway-8 and strategically situated just 25 km from Gurgaon border.

·         Larsen & Toubro and Arun Excello will do a township in Maraimalai Nagar, Chennai. The project, Estancia, will be set up on 78 acres at a cost of Rs 1,500 crore.