Haryana Government Plans to Auction 150-Acre Land in Gurgaon for First Phase of Global City

Haryana Government Plans to Auction 150-Acre Land in Gurgaon for First Phase of Global City

Haryana government will put up about 150-acre land for auction in Gurgaon, where it plans to invest Rs 4800 crore on creating infrastructure for global city, Vikas Gupta, managing director of Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) told ET.

Haryana Chief Minister Manohar Lal Khattar held a series of consultations with developers of NCR, Bangalore and Mumbai to develop a Global City in Gurgaon on 1003 acre land it has identified on Dwarka Expressway.

“CM is actively involved in creation of the world class city and the first phase is expected to start in July. We will also start work on infrastructure, which will include road and metro connectivity, helipad among others,” Gupta said.

Haryana government plans to do a similar stake holders meet in Dubai, which has created futuristic cities.

“The upcoming city will be near to a multi modal logistic part and a special focus will be on sustainability and environment friendly measure. The land available will be of mixed use and there will be both commercial and residential development to follow walk to work concept,” said Gupta.

Haryana Chief Minister had earlier said that although Gurugram in Haryana has become a centre of attraction for investors from all across the world, more and more investors would come forward after the construction of the Global City.

“We laud government of Haryana’s exemplary vision to develop 1000 +acres in a planned format to create a futuristic and iconic global city, and their novel initiative to invite participation and inputs from key players in the industry, including Max Estates. The initiative has the potential to lead Gurugram’s image in the international community, and become a major source of investment and boost for not just real estate, but several other sectors like healthcare, tourism,” said Sahil Vachani, MD & CEO, Max Ventures and Industries Limited.

“As a progressive real estate player, we understand construction requires extensive energy consumption and want to make a positive contribution to the environment. At the meet, we highlighted the need for government interventions and policy changes like mandatory regulations to implement green building strategies and for meeting set environmental standards and certifications, to further the goal of sustainable construction envisioned by the government,” Vachani said.

After the first round of auction, the government will plan for the next phase and based on the feedback, it will make changes.

“We have so far helped HSIIDC in conducting three roadshows and based on the feedback received from the industry, the preference is for large plots. The developers have shown interest in the Haryana government’s plan to create a city within a city where everything will be available in a campus,” said Mudassir Zaidi, executive director – north, Knight Frank India.

Knight Frank is helping the HSIIDC in stakeholder consultations.

Source : ET

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