DLF Unveils Rs. 850-Crore IT SEZ

                                                                                         

After speculating for months, realty giant DLF Ltd. is taking the plunge, announcing its entrance into Gujarat with plans to build a Rs. 850-crore 25-acre IT SEZ in Gandhinagar opposite Infocity.

As well, Rajiv Singh, Vice Chairman – DLF, disclosed plans which will place Gujarat in the group’s Top Five investment destinations that include the Delhi NCR and Mumbai-Pune regions. And, the next few years will see DLF investing around Rs. 6,000-crore in Modi land.

Unveiling the project that will create 2.5-million sq. ft. of workspace and take 18-months to complete, Singh informs, DLF will invest Rs. 3,000-crore in setting up three IT SEZs in Gandhinagar, Ahmedabad (jointly with Ganesh Housing next to Nirma University) and Vadodara.

While, work on the 35-acre Ahmedabad SEZ is scheduled to start in the next couple of months, the Delhi-based developer is still scouting for 25-30 acres for the Vadodara SEZ.

As well, Singh informs: “Another Rs. 3,000-crore will be invested in setting up at least 5-6 hotels jointly, with Hilton in Ahmedabad, Rajkot, Surat, Vadodara and Jamnagar, as well as, commercial and residential projects.”

He also hinted at bigger things like participating in infrastructure projects, such as, integrated townships, airports and ports, with DLF’s joint venture partners.
This will see DLF investing Rs. 5,000-crore each, in an airport and large green field port project in Gujarat.

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Source: IndiaRealEstateblog

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