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BDA (Bhubaneswar Development Authority) plans a satellite city

Bhubaneswar- Cuttack- Puri, Khordha, Satellite and Residential townships 10 Comments »

Following is an excerpt from a report in Telegraph.

The Bhubaneswar Development Authority (BDA) has proposed to establish a satellite city, the first of it kind in Orissa, on the outskirts of the capital city. The new city will be set up over 1200 acres of land encompassing four villages of Jagasara, Madanpur, Jagasarapatna and Kaimati of Jatni and Khurda municipalities, 25 km from Bhubaneswar Municipal limits.

…“The city will house nearly one lakh people in its 20,000 dwelling units. It will cater to the needs of all sections of people – low-income group (LIG), middle-income group (MIG) and high-income group (HIG). The cost of a house for the low-income group people might start from Rs 2 lakh. Separate projects for water supply and electricity would be undertaken,” said Singhdeo.

“Emphasis would be given to provide separate houses to those families who would provide daily services to 20,000 housing units. This would help the city remain slum free,” said the vice chairman.

Twenty per cent of the total housing units with fixed construction area will be reserved for the LIG and MIG groups. The cost would range between Rs 2 lakh and Rs 10 lakh. However, there will be no restriction for the HIG group. They can buy plots and houses according to their financial capacity.

The new city is a major component of the Comprehensive Development Plan (CDP) prepared by the IIT Kharagpur. The CDP has given emphasis on two important aspects that have direct bearing with the denizens – insufficient houses and transport problem. Moreover, according to the CDP, the issue of the demand for housing will be resolved on a priority basis.

“The demand for proper accommodation has triggered the satellite city concept. The satellite city, planned on the fringes, is a first attempt of BDA. After the successful execution of this ring town, couple of other satellite cities would be planned as the operational area of BDA is expanding,” said the vice-chairman.

The satellite city, planned over 1200 acres, includes 94 acres as government land which has already been handed over to BDA. The BDA has started the construction of a boundary wall earmarking the land. Rest of the area would be acquired by the private parties. Details of the rehabilitation of people who are likely to be ousted are being worked out.

ILFS-IDC, an international construction company, has been appointed as the advisor for this new project, which will be developed on private public partnership (PPP) mode. About 30 private investors of national and international repute have participated in the tender process.

…, the BDA has decided to develop the satellite city like that of Navi Mumbai. The BDA has started developing infrastructure over 94 acres of government land. The process of acquiring private land has not been started yet. …

“The satellite city will house 60 feet to 200 feet wide roads and all drainage and sewerage system would be laid underground,” said the minister adding that the private investors would prepare their mater plan accordingly.

Real Estate gets pricey in Bhubaneswar

Bhubaneswar- Cuttack- Puri, DLF, IDCO projects, Koraput, REAL ESTATE, Satellite and Residential townships 2 Comments »

Following is an excerpt from a report in Economic Times by Nageshwar Patnaik.

… With the state attracting around Rs 6,00,000-crore investments, including two biggest FDI proposals from ArcelorMittal and Posco, property prices in the city have jumped 4-8 times in five years.

Rapid urbanisation coupled with positive developments in sectors like information technology, biotechnology and mega investments in airport, steel, aluminium, mining, power, railways, road, port, hospitality and manufacturing has given a boost to realty in the state capital. A 1,200 square feet apartment in an up market area such as Kharabela Nagar, Forest Park and Saheed Nagar now costs between Rs 30 lakh and Rs 40 lakh.

“There is a mismatch between demand and supply, leading to steep hike in property prices in Bhubaneswar. Against a demand of 2,0000 houses in the medium and upper housing categories, the supply is mere 1,000 houses only. …

In the last five years, the city has witnessed tremendous growth in all segments,IT park, BPO, call centres, hotels, technical institutes, medical colleges and hospitals. In fact, the rise in number of world-class educational institutes has put the pressure on the city. This also has attracted many leading real estate companies in the country, which have taken the land for different projects.

But confusion is writ large among both the developers and customers with the government owning around 80% of land. “The state government is yet to come out with a clear policy on real estate for the capital city. Besides, land consolidation policy is conspicuous by its absence. …

The state government owns about 80% of the land in the state capital while 10% of private land is under legal dispute and the rest 10% is in the hands of landlords. The leading real estate companies from the country have taken land from the government to put up huge properties.

DLF has taken 54 acres of land from the state government owned IDCO near Infocity at Chandrasekharpur where it is coming up with 40 lakh square feet floor space to accommodate an IT Park, shopping, hotels, retail and residential apartments. Similarly, Unitech emerged as a successful bidder for 11 acres of land leased out by the Bhubaneswar Development Authority to develop commercial properties like multiplexes, retail and office space.

Vipul Group is developing a 19-acre township in a public private partnership mode with Orissa State Housing Board (OSHB). Similarly, Mumbai-based K Raheja Corp proposes to set-up a Mindspace IT Park here through a joint venture with the government or any of its agencies over 30 acres in three years at an investment of Rs 250 crore.

Industrial Infrastructure Development Corporation of Orissa (IIDCO) will acquire land for the project. FIRE (First Indian Real Estate) Capital Fund, a global PE Fund, is eyeing major investments in Bhubaneswar. …

Maytas and Orissa

Aluminium, Anil Agarwal, Jharsugurha, Jharsugurha- Brajarajnagar- Belpahar, Others, Satellite and Residential townships, Thermal, Vedanta Comments Off on Maytas and Orissa

Following is extracted from a report in sify.com.

Maytas Infra Ltd (MIL) is an infrastructure development, construction and project management company with more than two decades of experience in execution of complex & challenging landmark projects across the country. The company recently forayed into segments such as airports, seaports, oil and gas pipelines. MIL plans to diversify into new verticals like mining and related activities, manufacture of construction material and providing advisory & consultancy services.

… MIL’s new projects include railway siding project for Vedanta Industries in Orissa, Chennai MT Project & Hyderabad MRTS project.

… Its current projects include Vedanta Aluminium’s, Residential Township in Orissa worth Rs. 232.7 crore …

… MIL in JV with other firms is currently working on setting up 464MW Gas based Gautami Power project in AP, 100MW Sorang Hydro Power Project in Himachal Pradesh, 300MW KVK Nilachal thermal power project in Orissa and 56MW coal washery reject based SV Power project.

 

 

BDA plans a satellite city near Jatni: Dharitri

Bhubaneswar-Pipli- Konark, Bhubaneswar-Puri, Govt. housing, Khordha, Satellite and Residential townships, Wi-fi Comments Off on BDA plans a satellite city near Jatni: Dharitri

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Severeal IT townships possibly with IITs and IIMs are in the offing

INVESTMENTS and INVESTMENT PLANS, IT, PPP, REAL ESTATE, Satellite and Residential townships, SEZs, STPs Comments Off on Severeal IT townships possibly with IITs and IIMs are in the offing

Economics Times reports on such an effort. I hope Orissa government is aware of this and is making pitches for one of the locations in Orissa. Following are excerpts from the Economic Times report.

THE government is planning to build 6-7 new IT townships, called knowledge townships, close to major urban centres and international airports. The residential townships will be based on the walk-to-work concept. This means the professionals working there will be encouraged to live close to the workplace.

The companies setting up units in the townships may be extended tax sops under either the software technology park (STP) or special economic zone (SEZ) scheme. Each township would have a minimum 10-hectare (1 hectare = 2.471 acres) built-up area to make it compliant with FDI rules relating to investment in real estate. Each township is likely to entail an investment of Rs 500-650 crore, depending on the area.

A committee comprising members from the PMO, ministry of IT & telecom, urban development, civil aviation, Dipp along with Nasscom has identified several areas for setting up the knowledge hubs.

Sources in the committee said that these proposed townships will be extension of satellite towns like Gurgaon (to be called Gurgaon Plus). Similarly the township near Mohali will be called Mohali Plus. The first of these new townships is expected to come up by 2012 and the rest by 2015.

… services like IT and BPO will be encouraged in these units.

Many domestic and foreign real estate players have expressed interest in owning land and build such townships.

“We want each township to be FDI compliant so that they can attract foreign expertise,” a senior DIPP official said. Every township would be a special purpose vehicle where states and developers would have stakes.

Urban development secretary M Ramachandran said that his ministry would advise the committee on facilities like water, electricity, drainage and other civic facilities. “We will also help in developing the structures,” he said.

“The townships may also have an IIT/IIM or such academic institutions to build an ecosystem. For tax sops, we are pushing for extension of STP scheme else the companies can also opt for SEZ status,” said Nasscom president Kiran Karnik. The townships will come complete with educational, recreational/amusement and healthcare infrastructure.

“The basic reason for proposing such townships is the existing saturation in real estate and infrastructure amongst existing IT hubs,” Mr Karnik added.

Gurgaon real estate rentals have shot up meteorically in the recent past while Bangalore doesn’t have any real estate. …

Currently, Mohali, Mysore, Noida and Gurgaon have come up as satellite townships to major state capitals, most of which have international airports.

… SEZs offer a five-year 100% tax exemption with two subsequent five-year exemptions of 70% and 50% to units.