NEW DELHI: Godrej Properties Ltd. (GPL),a real estate developers, announced that it will develop ~14-acre land parcel in Kharadi – Wagholi, Pune.

The development on this land will comprise primarily premium group housing. The project will have a developable potential of ~ 3.7 million square feet with an estimated revenue potential of ~ INR 4,200 crore *.

The land parcel is strategically located near major commercial hubs in Kharadi, Pune, and provides access to schools, hospitals, malls, restaurants, and premium hotels. It is also in close proximity to Chhatrapati Sambhaji Maharaj International Airport.

Gaurav Pandey, MD & CEO, Godrej Properties, said, “Kharadi – Wagholi is one of the most sought-after destinations in Pune, and we are happy to mark our entry into this micro market. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build a high-quality development that creates long-term value for its residents.”

NEW DELHI: Emaar India, the Indian business entity of the globally renowned brand EMAAR, announced the launch of its first premium high-rise residential project, ‘Elite Oasis’, at Gomti Nagar Extension – one of the most upmarket neighborhoods in the capital city of Uttar Pradesh.

Elite Oasis offers a wide range of residential units, 3BHK + U and 4BHK + U (two types), catering to the needs of all those who aspire for premium living. The price range for 3BHK units will be between Rs 2.75 to 2.90 Cr and for 4BHK units between Rs 3.87 to 4.15 Cr.

Speaking at the launch, Kalyan Chakrabarti, CEO, Emaar India, said, “In Lucknow, Emaar is going to utilize this expertise to launch our first group housing project for the people of Lucknow, who are aspiring for a world-class lifestyle. Hence the name Elite Oasis, a community of like-minded people who seek the best.”

NEW DELHI: The Uttar Pradesh government on Sunday said its Global Capability Centres (GCC) Policy 2024 focusses on attracting Fortune 500 companies and boost foreign direct investments, and aims to turn cities like Noida, Lucknow, Kanpur, and Varanasi as into hubs of technology and digital services.

The policy outlines an ambitious plan to generate over 2 lakh high-paying jobs over the next five years, the state government said in a statement.

Special incentives will be offered to attract investment from top global corporations. It will not only accelerate Uttar Pradesh’s economic growth, but will also open doors to a wide array of opportunities for the state’s youth. With this initiative, the Chief Minister Yogi Adityanath-led government’s resolve to make UP a USD 1 trillion economy will also be strengthened, the statement said.

The policy lays out rules for setting up Level-1 and advanced GCCs.

For Level-1 GCCs, companies need to invest at least Rs 15 crore or employ 500 people outside Gautam Buddha Nagar and Ghaziabad. In these two districts, the minimum investment requirement is Rs 20 crore.

Advanced GCCs require an investment of Rs 50 crore (outside Gautam Buddha Nagar and Ghaziabad) or Rs 75 crore (within these districts), along with 1,000 employees. This ensures equal opportunities for both small and large investors.

The state has introduced incentives to win the confidence of investors. These include 30-50 per cent subsidy on land cost, 100 per cent stamp duty exemption, 25 per cent capital subsidy (up to Rs 10 crore for Level-1 and Rs 25 crore for Advanced GCCs), SGST reimbursement, 5 per cent interest subsidy, and 20 per cent operational subsidy (up to Rs 40 crore for Level-1 and Rs 80 crore for Advanced GCCs).

Companies can also receive payroll support of up to Rs 1.8 lakh per employee. These benefits will reduce set-up costs and encourage investment in the state, the statement said.

Besides, customised incentive packages will be offered to GCCs to be set up by Fortune 500 companies or India’s top 500 corporates, as well as those with foreign direct investment (FDI) of over Rs 100 crore. This is part of the government’s strategy to attract top global companies to Uttar Pradesh.

The policy also supports innovation and startups. It includes 50 per cent cost reimbursement for startup ideation (up to Rs 2 crore), an Intellectual Property Rights (IPR) subsidy of Rs 5-10 lakh for patents, and grants of up to Rs 10 crore for setting up centres of excellence.

These measures aim to make Uttar Pradesh a hub for technological innovation, the statement added.

Source:Press Trust of India