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- Rudrapur real estate investment
What are your views regarding real estate investment in rudrapur? What kind of growth is expected in the next 2-3 years?
- Rudrapur- the next boom town in India
Rudrapur slowly became just another milestone in the foothills of the Kumaon Himalayas -- a dusty town you could zip through in five minutes on your way to Nainital.
Rudrapur has already become the largest production facility for Dabur, which was among the first to set up shop there. Dabur insiders say the 17.5-acre plant will clock a Rs 200 crore turnover this fiscal.
HCL is making an investment of Rs 30 crore for its plant in Rudrapur and is looking at a total capacity of 3 lakh units a year. Right now they are operating at only 20 per cent of their total capacity, says Bist. It is also asking some of its vendors to come to Rudrapur.
Delta Computers, which makes power supply equipment for computers, has already approached SIDCUL. It could be a vendor for both HCL and Hewlett-Packard, which is constructing its plant at the moment.
But the name that really put Rudrapur on the country's industrial landscape was Tata Motors, which has acquired 1,000 acres � three acres more than the land it is seeking to acquire at Singur near Kolkata amidst stiff political protest.
Some of the bigger builders who have decided to put their money in Rudrapur include Omaxe, Assotech, Samiah and Alliance. Together, they are estimated to be investing over Rs 500 crore in developing residential apartments at Rudrapur.
With all the activity happening, the place is dotted with billboards enticing people (read corporates) to buy swank apartments with every facility imaginable.CommentQuote0Flag
- One of the booming city for Real Estate
Rudrapur is among one of the emerging cities where the real estate is going to boom in the coming times. Also, good investments are expected. For more details you can also refer to one of the thread of this forum itself at the following location:
- Rudrapur - From the Experts' Eyes
Rudrapur’s ascendance as a star industrial hub has been prompted by economic, demographic and geographic factors but Centre’s tax holiday for industries is expected to transmute it into an urban paradise. The sylvan surroundings of Rudrapur, a sub-division of Udham Singh Nagar, better known as ‘Gateway to Kumaon Hills’, echoes with the sounds of construction these days. Penthouses against the backdrop of Kumaon hills, ultra-modern luxury apartments by glassy lakes, villas among lush green parks, are just some of the dreams builders have been weaving to lure potential buyers.
This Uttaranchal town in the plains is emerging as one of the fastest growing industrial cities in the country and a premier business centre with big Indian and multinational companies of the likes of Nestle, Tata, Britannia, Dabur, Honda, Bajaj, Parle, Jindal, Mahindra & Mahindra and Voltas to name a few, investing Rs 7000 crore.
With around 400 companies expected to start operations in the next one year alone, Rudrapur is poised to be the new industrial hub of India. Realising the immense market potential, pan-Indian realtors are descending in droves to acquire land that has become scarce and exorbitantly priced. Many big players have already started to work on integrated townships, transforming quiet pockets into beehives of construction activity.
Rudrapur has emerged as the economic capital of Uttaranchal. After being declared a Special Economic Zone (SEZ), more than 500 industries have come up here. It is held by many that the rush in real estate developments is primarily the result of tax and economic incentives announced by the Central and state governments to promote industrial growth.
The latest scramble has been triggered by the declaration of Rudrapur as a non-tariff area for central excise, custom and sales tax duties for a period of 10 years. This span may also be extended by the Central government. This has prompted industry players to set up big plants and the subsequent settling of numerous corporates. Companies that begin production before a cut-off date get a 10-year excise duty exemption, five-year full income tax break and reduced levels for the next five years. The state government has, as a result, witnessed hectic activity on the industrial front with a host of companies, from the automobile, pharma and FMCG sectors, setting up facilities here. The attractive tax breaks have apparently worked for Uttaranchal, which received investments of around Rs 20,000 crore in the past three years, prompting it to scout for fresh land to house new industries.
Arvinder Singh, CMD of Alliance Nirmaan Limited, a leading developer which pioneered real estate development at Rudrapur and in Uttaranchal, points out, “The transfer of 5000 acres of GB Pant University land to State Industrial Development Corporation of Uttaranchal Ltd (SIDCUL) for development of industrial complex has been a milestone and Centre’s tax breaks coupled with the cooperative approach of the state government have triggered industrial growth in Rudrapur.”
Rohtas Goel, MD, Omaxe Construction Ltd which is coming up with its integrated township Omaxe Riviera, asserts, “The tax breaks have facilitated the overall economic development of Rudrapur. It has attracted several corporates to open their offices eventually triggering a rise in demand for housing and commercial complexes.” Infrastructure has been a big draw at Rudrapur.
Partho Kunar, VP (Marketing), Alliance Nirmaan Ltd, explains, “Unlike most of the towns and cities in India, infrastructure is not a botheration. There is no dearth of electricity or water. Moreover, electricity rates are the lowest in the state and you can get water by digging not even five feet.” To further consolidate its position on power, the government has planned 10 power projects at a cost of Rs 800 crore.
Connectivity is good as the town is situated on the Delhi-Nainital Highway (NH 74) and Khatema-Panipat Highway (NH 87). Four-laning of road from Bareilly to Moradabad is under way. The Pantnagar airport in the vicinity is a big plus. The airport is being renovated to enable Boeings and ATRs to land from next year. The government is also working on improving the infrastructure and connectivity especially around the industrial belts.
Literacy rate at Uttaranchal is very high. This bodes well for industrial growth because educated workforce is an important requirement for industries to prosper. Government policies have been economy-friendly marked by fewer technical snags and less bureaucratic hassles. Economic factors apart, there is a demographic factor that has contributed to the demand for real estate: the presence of a strong Punjabi community, many of who live abroad. These NRIs have shown a lot of interest in the upcoming high-end real estate products.CommentQuote0Flag
- vijayawada the city on fast track
what are your views about development prospects of vijayawada in AP?CommentQuote0Flag