Chandigarh and its suburbs to invest Rs 6,000-7,000 cr

Chandigarh and its suburbs are likely to join the bandwagon of the Metros within two-three years with investments touching upto Rs 6,000 to Rs 7,000 crore.IT Park, Multiplexes, Film City, Theme Park, or multi-storied buildings, the development has begun and the city beautiful is likely to emerge as a major tourist destination.
Chandigarh IT Park, where companies like DLF, Infosys, Wipro, Bharti Airtel, Tech Mahindra, Parsvnath Developers have already promised investments of around Rs 4,000 crore, keeping in mind the escalating real estate rates.

• DLF has a building in 12.5 acre area and work on its hotel and infocity will soon begin.

• Wipro and Infosys have about 30 acres each and an investment of Rs 300 crore and Rs 400 crore respectively is expected.

• Parsvnath Developers made the country’s third highest real estate bid for for developing residential area of about Rs 821.21 crore,4 million sq ft, the total revenue after sale of flats is expected to be around Rs 3,000 crore.

There are few other projects in the pipeline like a 70 acre Theme Park, where an investment of around Rs 300-400 crore is expected.

About 8-10 companies have submitted expressions of interest for the same and the selection process is going on.

Film city, which will make Chandigarh and adjoining states a hub for Bollywood directors and stars, is likely to attract Rs 300 crore of investment.

Source:http://www.financialexpress.com/