Satellite townships got 5 investors under the FDI

By Accommodation Times News Service

Five infrastructure development companies have approached the state government with proposals, expressing their keenness to be partners in the setting up of satellite townships through foreign direct investment (FDI) for which land is being identified at the proposed locations in the state.

One of the companies is Noida-based 3C Universal Developers, which has a tie-up with a foreign company, Lotus Boulevard. Sandwoods Infrastructure Pvt Ltd, New Delhi, and Shrishti Infrastructure Development Ltd, Kolkata, is the two other companies that have shown interest in the project.

However, a decision on these proposals will be taken only once the Cabinet approves the Integrated Township Policy for developing satellite townships under foreign direct investment. The guidelines for the policy are still in the process of formulation.

The government proposes to set up five satellite townships with the tentative locations being near Shimla, Solan, Mandi and Dharamsala. Besides, Shimla being the state capital, the other three towns too are buckling under pressure due to increasing population and tourist influx. Another crucial aspect yet to be decided is whether the land given to private developers would remain in the name of the government or land would be transferred in their name. As part of its preparations for roping in foreign direct investment in satellite townships, the Himachal Pradesh Urban Development Authority (HIMUDA) is searching for sizeable chunk of land required for having a whole township.

“Over 500 bighas of land has been identified near Vaknaghat, but since the area faces water shortage, it might not be suitable till a new water supply scheme is proposed. This could delay the project,” said a senior official. With a minimum requirement of at least 500 bighas of land for developing a satellite township, availability of such a huge chunk of land would be a stupendous task. The funds required for developing a satellite township would be nearly Rs 5,000crore.

GROUND WORK BEGINS

-Five infrastructure development companies with global tie-ups send proposals to government
-Over 500 bighas land identified
-Around 500 bighas land and about Rs 5,000crore required for a township
-An Integrated Township Policy being prepared for developing satellite townships





Similar Articles

Leave a Reply

Top