KSL Realty plans 25 billion rupees to invest in 4 years
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The top official of the KSL Realty said to the www.propertykhazana.com that the KSL Realty and infrastructure Ltd is investing Rs 25 billion to build up 20 million square feet of land above the coming four years. He also said it will be partially separated by internal accruals and through debt.
Chairman Saurabh Kumar Tayal told Reuters, to develop the mini-townships the company has recognized 53 Indian cities and towns. The real estate player wants to develop their textiles business to a national-level by adding the major revenue that comes from the real estate in the future. In the huge land bank the company as 4-5 Indian states and is looking for the land sourcing in the other states also.
Tayal said the KSL is on plans to construct hotels, IT parks, malls, theatres, residential complexes, banquets, restaurants and warehouses in the nationwide and also to lease them out. Further more it is also reported by the sources to the www.propertykhazana.com that KSL is planning to build a five star hotel in Nagpur, which was previously tied up with Indian Hotels Co. Ltd. In the Asia the real estate is the 4th largest financial system, which is growing at its best speed. There is a huge demand for office spaces, apartments and shopping centres. According to the ICICI bank in the real estate market, India is estimated to the top $463 billion by 2010 from $292 billion in 2004.
Source: NIMMA BENGALURU
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