Alchemist Township India Limited Buys 20 Acres For Residential Development in the BAPL's Aerotropolis At Durgapur, 180 km from Kolkata.
Alchemist Township India Limited, a Delhi-based real estate developer, has bought 20 acres of prime land in the Aerotropolis being developed by Bengal Aerotropolis Projects Ltd (BAPL) at Durgapur, 180 kms from Kolkata. Leading international property consultants Jones Lang LaSalle India were the transaction mediators for this deal, which is West Bengal's largest land transaction in 2013 to date.
This acquisition marks Alchemist's formal entry into the East India residential real estate space and is on an aggressive expansion and diversification drive. The Durgapur Aerotropolis undertaking will be the first in several forays into the residential real estate domain. At Durgapur, it will be focusing on the budget homes segment.
This project envisages developing 2.4 million sq. ft. for housing. The company has set a target to develop 10 million sq. ft. for affordable homes in Eastern India, which will include Bengal, Orrisa, Assam, Bihar and Jharkhand.
BAPL's Aerotropolis (or Airport City) is a massive project in Durgapur, which is poised to reshape the aviation and industrial map of Eastern India. With Changi Airports International - one of the world's largest airport management companies - as a 26% equity stakeholder, the Durgapur Aerotropolis will have the country's first privately-owned and operated airport. The Aerotropolis is a unique urban development model that places the airport at its core, to act as a major economic growth driver for areas surrounding it.
Alchemist Township India Limited, a Delhi-based real estate developer, has bought 20 acres of prime land in the Aerotropolis being developed by Bengal Aerotropolis Projects Ltd (BAPL) at Durgapur, 180 kms from Kolkata. Leading international property consultants Jones Lang LaSalle India were the transaction mediators for this deal, which is West Bengal's largest land transaction in 2013 to date.
This acquisition marks Alchemist's formal entry into the East India residential real estate space and is on an aggressive expansion and diversification drive. The Durgapur Aerotropolis undertaking will be the first in several forays into the residential real estate domain. At Durgapur, it will be focusing on the budget homes segment.
This project envisages developing 2.4 million sq. ft. for housing. The company has set a target to develop 10 million sq. ft. for affordable homes in Eastern India, which will include Bengal, Orrisa, Assam, Bihar and Jharkhand.
BAPL's Aerotropolis (or Airport City) is a massive project in Durgapur, which is poised to reshape the aviation and industrial map of Eastern India. With Changi Airports International - one of the world's largest airport management companies - as a 26% equity stakeholder, the Durgapur Aerotropolis will have the country's first privately-owned and operated airport. The Aerotropolis is a unique urban development model that places the airport at its core, to act as a major economic growth driver for areas surrounding it.
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