Thapar group takes a realty bite

Delhi realtyNEW DELHI: DCM & the Anil Nanda Group did it; steel king LN Mittal is said to be doing it. And now, it’s the LM Thapar group that does not want to be left behind. We are talking about real estate here.

The new kid on the real estate block — LM Thapar — is working on a blueprint to set up four large townships, two in Gurgaon and one each in Karwar (Karnataka) and Pune. Of the two in Haryana, one would be at Shree Gopal, near Yamunanagar, while the other would be at Banvari on the Faridabad-Gurgaon road.

For the Pune venture, the group has tied up with Ajit Gulabchand of Hindusthan Construction and Anuradha Desai of Venkateshwara Hatcheries.

A complete township project — being called Lavasa — it would be spread across nearly 7,000 hectares. “I have taken 25% equity in the project,? LM Thapar, the patriarch of the LM Thapar group, told ET. Besides flats and Mediterranean-styled homes overlooking a lake, it would feature major support services like hospitals, hotels and educational institutions.

“The township projects in Karwar and Shree Gopal would be set up by closing down some of the group’s existing plants in the two locations,? Mr Thapar said. While BILT has a chlor alkali plant in Karwar, it has a pulp-and-paper making facility in Shree Gopal. Its bromine plant in Karwar would be relocated to Kutch.

The pulp-making plant in Shree Gopal, on the other hand, would be wound up, carrying on only with paper production. “This would open up a lot of land for real estate development,? he added. The township project in Karwar would span over 250 acres, close to where a naval base is coming up.

The Shree Gopal real estate development would have an area of over 300 acres. “A small city would be built around it,? he said.

Source : The Economic Times

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