Unitech giving final touch for Knowledge City in Vishakhapatnam
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India’s largest realty company Unitech has been qualified the Andhra Pradesh state government for constructing a Knowledge Park in Vishakhapatnam. As per the source saying @ the www.propertykhazana.com the proposed Knowledge Park will come up in 1750 acres of prime land in Vizag. The agreement has been signed at Rs. 52 Lakh per acre and as far Vizag is considered this is predicted to be the largest deal.
Many companies took part in the bid called by the AP State Government and Dubai based Al Hamra Real Estate Development LLC was in the race till the last minute.
It is also said by the source @ the www.propertykhazana.com that the winning bidder Unitech is pouring around Rs. 20,000 crores for the development of 10 million Sq.ft InfoTech Park at Vizag. The upcoming Knowledge Park is well planned with luxury flats, top-end villas and villa plots, shopping malls, hospital, schools and hotels with 250 acre golf course. Unitech is hoping to fetch Rs. 75,000 crore from the venture.
As reported by the sources at the www.propertykhazana.com Unitech is now concentrating on land bank and in this regard the company has acquired lands in some of the places but the details are yet to be out.
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