Tanuj

Even as local real estate developers are mulling greener pastures in metros outside the state, Bangalore continues to be a star attraction for FDI-promoted township developers.

Fire Capital Fund Pvt Ltd, a global venture capital fund, plans to enter Bangalore in the next three months with an equity investment of $ 35 million on integrated township project near Whitefield in Bangalore. Fire Capital Fund Pvt Ltd plans to invest up to $ 250 million to develop integrated townships in 10 cities in India. By the year-end, the firm would also raise $ 500 million for dedicated real estate and infrastructure component development.

They made their first investment in Indore-based M Jhaveri Group on the 137-acre upcoming township Silver Springs being developed. It is Madhya Pradesh’s first Foreign Direct Investment (FDI) promoted integrated township, whereas in Bangalore it is one of the top five FDIs. They have also invested in the range of $10 million each for townships in Chennai and primarily tier II cities such as Nagpur, Bhubaneshwar, Indore, Jaipur and Dehradun.

The 500-acre township in Bangalore will usher international life style in the city. The township will be a new benchmark in quality development and people can experience a life style comparable to the best in the world. With Fire Capital as an active participant in development of the township, they assure timely delivery, quality construction, green, open township and the highest standards of maintenance to the customer.

The Bangalore township will have a shopping mall, an office with world-class facilities, hotel, and over 3,000 to 3,500 residential units including town houses, villas and apartments. To enhance the quality of living, the project will also have a club, health care facilities, a school, creche and places of worship. The project brings in best practices in design and master planning through a leading international architectural firm.

The township has been designed keeping in mind Bangalore’s potential for IT sector growth. The Bangalore township is expected to contribute greatly to creating quality urban infrastructure, generating revenue, fuelling the growth of IT and acting as a catalyst to attract FDI in the state, besides creating jobs for many.

The Bangalore project will be shortly announced with the completion of land assembly and convergence sale. The project will mainly be targeting people dreaming about owning a house near work place with all needed facilities.