Real estate India has a host of new players – notable debutants include the Adani Enterprises and the royal Ghorpade family.
Diversifying from metals and agricultural commodities, Adani is venturing into real estate and infrastructure development.
Plans for an IPO are under way to finance its power and real estate business,
and the company has reportedly committed an investment of USD 2.5 billion
towards the project. Preliminary reports quote an area of 28 million sq.
ft that Adani would initially develop in its real estate venture.
The Royal Ghorpade family of Maharashtra has made its mark in the Indian
real estate business with an IT Park in Pune, and an upcoming agro SEZ
in Satara.
With a land bank of 18,000 acres, Mudhol Land Holdings, the
company through which it operates will develop more malls and IT parks
in western Maharashtra and north Karnataka.
Mudhol made into debut into Pune
real estate with the Cybernex, an 8,000
sq. ft IT complex on Shankarsheth Road and registered with the Software
Technology Parks of India (STPI).
Reliance and Axis Bank have established
their back-offices here, and more IT players have shown an interest.
A mall on Viman Nagar, Pune is next on the agenda, along with projects
in Kolhapur and Mudhol.
