Mantri Realty to invest Rs 100-crore in Kolhapur projects
Realty major, Mantri Realty, has lined up a Rs 100-crore investment in Kolhapur for setting up an IT park followed by an ultra-modern mall and a residential township.
By PTI |
MUMBAI: Realty major, Mantri Realty, has lined up a Rs 100-crore investment in Kolhapur for setting up an IT park followed by an ultra-modern mall and a residential township.
The IT park will be the first in Kolhapur and also the first in western Maharashtra outside Pune.
"We will be targeting Tier II towns in Maharashtra as a part of our growth strategy. We have earmarked a Rs 100-crore investment in Kolhapur where we see immense potential as it is a cash-rich and growing town," Mantri Realty's Chairman, Sunil Mantri, told agencies.
Mantri will be investing Rs 20-crore in the IT park, christened Mantri Info Park which will be spread over 1-lakh sq ft and is expected to be ready in a year's time. It will have a seating capacity of 1,000.
The company will be pumping in a further Rs 80-crore into Kolhapur to set up an ultra-modern mall and a township. Work on both is expected to commence within the next six months and both projects are expected to be completed by early-2009, Mantri said.
The mall's size will be in the range of 3-5-lakh sq.ft while the residential township will be spread over 100-acres.
Mantri Realty plans to create a similar kind of IT park spread over 2-lakh sq.ft. in Sangli and Miraj for which land acqusition has already been completed.
"We will be investing Rs 20-crore in this project as well," Mantri said, adding that "we will commence work here in a month's time."
The IT park will be the first in Kolhapur and also the first in western Maharashtra outside Pune.
"We will be targeting Tier II towns in Maharashtra as a part of our growth strategy. We have earmarked a Rs 100-crore investment in Kolhapur where we see immense potential as it is a cash-rich and growing town," Mantri Realty's Chairman, Sunil Mantri, told agencies.
Mantri will be investing Rs 20-crore in the IT park, christened Mantri Info Park which will be spread over 1-lakh sq ft and is expected to be ready in a year's time. It will have a seating capacity of 1,000.
The company will be pumping in a further Rs 80-crore into Kolhapur to set up an ultra-modern mall and a township. Work on both is expected to commence within the next six months and both projects are expected to be completed by early-2009, Mantri said.
The mall's size will be in the range of 3-5-lakh sq.ft while the residential township will be spread over 100-acres.
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Mantri Realty plans to create a similar kind of IT park spread over 2-lakh sq.ft. in Sangli and Miraj for which land acqusition has already been completed.
"We will be investing Rs 20-crore in this project as well," Mantri said, adding that "we will commence work here in a month's time."
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