March 10 2016, 19.25 PM IST || Pocket News Alert
Kolkata, March 10, 2016: Shriram Properties Pvt. Ltd., the property development arm of the INR 90,000 crore Shriram Group, marked its foray into West Bengal by announcing the launch of an integrated township, ‘Shriram Grand City’ at Uttarpara and this is the first step towards the greater development opportunity that will unfold in Uttarpara.
About Shriram Properties:
Shriram Properties is a multi-crore company with nearly Rs 25000 crs of business across the country. The company has so far delivered over 12 million sq. ft. of residential and commercial built up space across the country and another around 60 million sq. ft. is under various stages of development.
One of the forerunners in Indian Real Estate space, Shriram Properties is a trusted and highly credible developer having attracted huge PE investments. World majors like Walton Street, Starwood Capital, TPG Capital, TATA Opportunities Fund, HYPO, Sun Apollo, ASK, Motilal Oswal, Amplus, ICICI Prudential have invested an aggregate of US$435 million in Shriram Properties.
‘Shriram Grand City’ is spread over 386 acres with a well-planned social infrastructure within the township and offers dedicated zones for residential, commercial, office/IT, retail, educational institutions, hospitality and recreational areas. The integrated township offers a complete housing opportunity set amidst a liberal green space, maintained with the help of smart sanitation, solid waste management and recycling systems. Planned open spaces & walkable localities powered by solar energy makes it a sustainable and smart township. The township offers connectivity of every kind. Being always connected through WiFi can be experienced within the township. The network of roads caters to transport that takes you right to your doorstep. The township creates an all-inclusive environment with live-work-play lifestyle and recreates the magic of life and living by addressing the problems of a city.
Speaking on the new project launch, Mr. M Murali, Managing Director, Shriram Properties, said “With a proven track record of performance in South India, we are stepping into West Bengal, the state known for its rich heritage and tradition, to create “Shriram Grand City” a massive 386 acre township project in Uttarpara. With the support and encouragement of everyone, I am sure the project will make a distinctive difference in terms of quality living space for all.”
Grand One, the first phase of residences in the project is spread across 15.04 acres and has 24 towers, in the Ground +14 floors each with a clear view of the central greens and some with an additional view of a bolt of blue running through the property. Each block has 7 units on every floor. A majority of the apartments are open on three sides and some, on four, to let the southern winds in. What all of them have in common is a multi-facility clubhouse, an open air theatre, a beautifully sculpted central green with nature trails, gurgling brooks flowing under timber bridges, walkways and skating rinks, playgrounds and plazas, 24X7 security and more, providing smart solutions for all the challenges one faces in a regular city.
The integrated township project aims to provide a number of economic and social growth drivers and infrastructural benefits to the state.
· Investment of Rs. 10000 crores in the project by Shriram Properties.
· Large IT space which can generate employment for thousands of people
· Affordable housing catering to the entire economic spectrum of the community
· Creation of social infrastructure with schools, colleges, healthcare, shopping & more for the benefit of the local community
· The four-lane road from Delhi road to the project site as directed by the high-powered committee would develop the infrastructure leading to better connectivity
· Providing impetus to the growth of agriculture & other economic development on both sides of the road
· Accelerated planned urbanisation on the Western bank of Hooghly in the KMA area
· Reduction of pressure of the population on Kolkata
· Development of satellite townships through private participation
· Will address the housing demand of the middle class & bridge the demand-supply mismatch existing today due to non-availability of land parcels in Kolkata
· Will bring in physical infrastructural development in terms of roads and drainage
· During the construction period of Phase I: Grand One, 3 Crores of workers man hours
· Eventually envisage 40000 man hours post the completion of the township
· Will drive employment generation upstream & downstream and ancillary economic activities
