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Price Escalation On India Real Estate near SEZs

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Price Escalation On India Real Estate near SEZs

Last updated: March 17 2007
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  • Price Escalation On India Real Estate near SEZs

    Reliance Industries (RIL) Maha Mumbai SEZ (MMSEZ) and Navi Mumbai SEZ (NMSEZ), which it has started in JV with CIDCO is creating a kind of price escalation in the Real Estate market with glorying opportunities. Both SEZs are located in Raigarh district and will cover a land area of 14000 hectares.

    As Industry sources pointed out that individual are vying for land in the Mandwa and alibag region, the tag of SEZ being attached and hopes of price escalating. The proposed Rewas-Aware Seaport also being a prime factor.

    Real Estate major Hirandani Constructions has brought up 200 acres of land in Nagaon near Alibaug, which is nearly 24 km from MMSEZ. Samira Habitats is setting up services SEZ in Poynad 6 km from MMSEZ. It has already appointed Meghraj SP Corporate Finance to scout for private equity partners for the venture

    Out of the 200-acre land Hirandani Constructions it would use 25-40 acres for the SEZ and the rest for the health farms, medical facilities, a international educational institution, a three-star hotel around the SEZ. It has envisaged a investment of more than Rs 100 crore for the venture.It claims that the services SEZ would compliment the MMSEZ and NMSEZ.

    In the next four to five years, Alibag will not remain as a gateway destination but will become a suburb to the SEZs. With the world-class infrastructure, well-paying jobs and hi-if lifestyles, the surrounding areas will get great demand. With the upcoming SEZs, a lot of rich and famous are buying land in the areas surrounding SEZs.

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