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| Unitech Builders Presents Projects in Southern India
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| | One of the prominent real estate developer and builder, Unitech Ltd., is planning for enlarging its real estate projects. Its next target is southern India. It may soon announce its plans for investment in Southern India's property. Unitech's Managing Director, Sanjay Chandra, their company has made a record in bidding for prime property in Noida. They have already started the construction of a grand building in Tamil Nadu.
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A 340 acres Express City Township Project in Noida was on bid and Unitech bid was highest, 1,582 crores, which broke all the records. Their bid was higher than DLF Universal, another leading property developer. This has been the largest ever land deal in India. Before this, Reliance Industries had made the largest land deal for sale of plot in Bandra- Kurla Complex at a price of Rs. 1,104 crore.
The managing director commented that such big deals are beneficial for the real estate sector India, as they would decrease piecemeal purchase of plots and facilitate world-class development of large sites. The increase in real estate price is not creating a "bubble" but instead this shows the economic growth of the country.
Mr. Sanjay Chandra appreciated the role of government in new State Bank Of India as it is giving a lot of priority to Gurgaon. Regarding infrastructure problems, he said that Unitech has provided all facilities of water and power back up. The lag is on the part of government.
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