Mahindra & Mahindra (M&M) has decided to go slow on its world city project in Bengal.
The conglomerate, with interests ranging from automobile and real estate to IT, financial services and infrastructure, had planned to invest Rs 4,000 crore in Bengal over the next few years to develop the 100-acre IT special economic zone (SEZ) and township.
M&M executive director Arun Nanda had met Bengal IT minister Debesh Das, chief secretary Amit Kiran Deb and tourism minister Manab Mukherjee in December 2007.
The world cities are integrated units which are divided into business and residential zones. They require anywhere between 100 acres and over 3,000 acres.
In Bengal, M&M looked beyond Calcutta to Kalyani and Siliguri for the township project. They have seen locations at Kalyani but thereafter there has been no response from them.
M&M, also known for developing destinations such as Munnar for tourism, is scouting for similar locations in the state. The company had also expressed interest in a hospitality project at New Town, Rajarhat.
The company’s IT arm, Tech Mahindra, is building the Bantala SEZ in over 12 acres and plans to employ 2,000 people in the first phase of 18 months.
M&M has also signed a memorandum of understanding with the West Bengal Tourism Development Corporation to provide consultancy to the state government for setting up eco-friendly infrastructure in the Sunderbans.
-
-
Property Listings- 3 bedroom Independent House for Sale in Suraj Kund, Faridabad (P448501357) February 8, 2012Independent/Builder Floor in Dayal Bagh, Faridabad Available a builder floor on sale in dayal bagh faridabad. *property available on iind floor. *completion certificate. *near by surajkund craft mela. *just 5 minutes drive from south delhi. more details.. […]
- 2 bedroom Apartment / Flat for Rent in Kapur Bawadi, Thane (P791395603) February 8, 2012Residential Apartment in Kapurbawadi, Mumbai Thane This is a brand new tower of 19 floors just before r mall it is well connected to thane station by all means of transport there r banks in its shopping complex and just being next to r mall all shopping need of grocery and other daily needs r taken ... more details.. […]
- 4 bedroom Apartment / Flat for Sale in Charmwood Village, Faridabad (P132954241) February 8, 2012Residential Apartment in Charmwood Village, Faridabad Available on sale kenwood towers, set amidst blissful greenery, is located in charmwood village, a well-planned township. Next to south delhi, it is very well connected. A beautifully designed apartment complex with peaceful surroundings, and ... more details.. […]
- 2 bedroom Apartment / Flat for Sale in Electronic City, Bangalore (P562313649) February 8, 2012Residential Apartment in Electronic City, Bangalore South Nbr lake view apartments building specifications r.C. C frame structure with column & footings plinth beams r.C.C column r.C.C roof slab and beams with cut lintol and chajja 6\" th solid block masonary for main walls , 4\"th solid block masonary ... more details.. […]
- 3 bedroom Apartment / Flat for Sale in Balewadi, Pune (P781395379) February 8, 2012Residential Apartment in Balewadi, Pune Bungalow for kg day care resal balewadi ideal, independent place for nursery school.3000 ground area comes to 60l n 2300 builtup justifies 30l, making asking price very reasonable . more details.. […]
- 3 bedroom Apartment / Flat for Rent in Greater Kailash II, New Delhi (P791395648) February 8, 20123 BED ROOM APARTMENT FOR RENT IN GK-2 A WELL MAINTAIN 3 BED ROOM APARTMENT ON SECOND FLOOR FOR RENT IN GK-2, SERVANT ROOM, POWER BACKUP, AMPLE CAR PARKING FOR THIS APARTMENT. more details.. […]
- 3 bedroom Apartment / Flat for Sale in Uttam Nagar, New Delhi (P539113746) February 8, 2012k-92 3 bedroom with wall to wall pop & Fall ceiling, 1 drwing room with fall ceiling work, 1 fully modular kitchen with chimney & hob, 2 Side open Balcony Fully Fancy lights in Rooms, 2 toilet bathroom with branded sanitary fittings, Reserve car ... more details.. […]
- 3 bedroom Apartment / Flat for Sale in Uttam Nagar, New Delhi (P609136997) February 8, 2012Kiran Garden 3 bedroom with wall to wall pop & fall ceiling, 1 drwing room with fall ceiling work, 1 fully modular kitchen with chimney, 2 toilet bathroom with branded & fancy sanitary fittings n Fall ceiling, Lift available for all floors. totally ... more details.. […]
- 3 bedroom Villa/Bungalow for Sale in Enjambbakam, Chennai (P437421394) February 8, 2012Poornima green terrace Reserved Car Parking Children Play Area Modular Kitchen Wooden flooring for Master Bed Room Power Backups RO Water Plant CCTV for Common Area Door Watch Video Digital Door Lock 24 Hrs. Securities Dish TV Wireless Internet accessibility Intercom ... more details.. […]
- 2 bedroom Apartment / Flat for Sale in Karaundi, Varanasi (P455861395) February 8, 2012Residential Apartment in karaundi, Varanasi Residential flat no.2 available in karaundi. more details.. […]
- 3 bedroom Independent House for Sale in Suraj Kund, Faridabad (P448501357) February 8, 2012
One Comment
Developers themselves are not too kicked about the state of affairs. While maintaining that inflation and interest rates have been the key factors, they are not too optimistic about the way forward. Vipin Aggarwal, executive director, Omaxe said, “There is a slowdown and this will continue for at least a year and half. Besides, the real estate sector is itself facing a cash crunch. There are many companies that are focusing on completing the project at hand instead of increasing the size of their land-banks”.