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Almost half-a-decade after announcing the construction of a chain of townships under the banner of Sahara City Homes, the project seems to be gathering speed. Sahara has completed the process of acquiring about 11,000 acres which will help kick start the Phase-I of their project in about 102 cities located in 22 states across the country.

“We have already acquired 11,000 acres needed to build township projects at an investment of Rs 30,000 crore across 102 cities. Work in Lucknow, Indore, Nagpur, Gwalior, Jaipur, Jodhpur, Coimbatore, Aurangabad, Solapur and Ahmedabad have already begun,” said, Surya Vir Singh, head (strategic planning) of Sahara Prime City Ltd.

“We aim to complete the first phase of the township projects in all the 102 cities by 2013-14,” said Mr Singh who was in the city on Thursday to overlook the construction work of the 104 acre township project in Ahmedabad. According to Mr Singh, the Phase-II of the Sahara City Homes, which will cover 217 cities, is expected to be completed by 2017.

“Within this year we plan to begin construction work of similar townships at Rajkot, Bhavnagar, Porbandar and Jamnagar, after getting the necessary approvals”, he told ET. The land has been acquired for the project in these cities.

“The projects in Gujarat alone will be worth Rs 10,000 crore,” said Sunder Lal, a senior advisor of the company. The Sahara City Homes at Shella , Ahmedabad, will have one to four bedroom residential units. They will also have duplexes, row houses, villas and bungalows.

“The residential units will be priced between Rs 16 lakh and Rs 1.5 crore (as per the existing prices),” Mr Lal added.

When asked why the projects have been delayed after announcements were made way back in 2003-04, he said: “We were engaged in getting the necessary clearances for the projects, especially issues related to land. Moreover, we have also changed some of the earlier concepts. The townships will now have more green and open spaces. Designed by famous architect Hafeez Contractor, they will be fully air-conditioned and will use European accessories like tiles and sanitary wares.

“Now that we have completed the land acquisition process for the majority of our project we do not think that a subdued market will affect us, Mr Lal said.

                                                                             Courtesy: - ET dtd: - 5^th Sep. 2008

The Mumbai-based real estate firm DB Realty is investing Rs 700 crore to set up a large mall in the outskirt of the city. The project is founded through a max of debt and equity.

Called Orchid Ozone, this mall would encompass facilities for retailing entertainment and hospitality.

 “As Indians move up the value chain, large format retail combined with themed luxury environments will drive Indian retailing,” said Nabil Patel, director, DB Realty, which is the real estate arm of the diversified Dynamix Balwas group.

 “Indians not only want to shop but want to be entertained. This is the need that Orchid Ozone seeks to fulfill,” added Patel.

Spread over 2.5 millions sq ft built up area located on a 14 acres plot, Orchid Ozone would be Mumbai’s biggest mall upon completion in 2009 end.

The mall will have 1.6 million sq.ft of retail space, an international business hotel, a dedicated kids play and care zone, entertainment along with dining options and a 14-screen megaplex.

Hafeez Contractor has designed this mall which is now 35 per cent complete. The company has roped in anchor tenants such as Pantaloons, Hypercity and Shoppers stop .

Orchid Ozone will have Wet Design’s water themed fountains, an ice skating rink, large food courts, travolators to connect visitors seamlessly from one level of the mall to the other and a 50,000 sq ft kid’s play and care zone.   

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