The Chadha group, promoted by liquor baron Ponty Chadha, plans major expansion of real estate business across North India. The group plans to invest Rs 3,000 crore over the next two years to start a number of residential and commercial projects in various cities of Punjab, Uttar Pradesh and Uttaranchal.
Other than the Westend Estate project started in Mohali, the group is in the final stages of land acquisition for setting up a residential project in Amritsar. The group also plans to set up townships in Jalandhar and Ludhiana, besides establishing malls through a separate company -- AB Motions -- at Ludhiana and Mohali.
Mr Manpreet Singh Chadha, Director, said they shortly plan to start their projects in Indrapuram (National Capital Region), Dehra Dun, Meerut and Bareilly.
The group has already launched Westend Estate across 150 acres in Mohali, and 50 per cent of the residential sites (flats, plots, and villas) have already been sold out. Since we have hired sports legend, Mr Kapil Dev as the brand ambassador for our residential projects, we will be creating a lot of sports infrastructure in all our projects.
Fortynine per cent area, which is supposed to be left as greens, will be used for creating sporting facilities, he said, while adding that the real estate ventures will be funded through internal accruals and finances from financial institutions.
He said all projects of the Chadha Group would have facilities for entertainment, leisure, and other recreational activities. Additionally, it will also have schools, hospitals, power back up and adequate water supply.
The Rs 2,500-crore Chadha Group is a Delhi-based diversified business conglomerate with interests in real estate -- both residential and commercial.
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Source: IndiaRealEstateblog
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