Dhillon group plans to venture into housing complexes

The Rs 750-crore Dhillon group, one of the largest industrial houses in northern India, is moving into the residential and housing sectors.

The group is recognised in the industrial sectors of Pepsi Cola Beverages, spirits and liquor, and entertainment.

The integrated high-end townships, spread over 500 acres in Mohali and 300 acres in Patiala, will comprise 3,000 dwelling units in Mohali and 2,000 units in Patiala.

"Covering more than 8 million square feet, the project is in collaboration with leading developers from Malaysia and Singapore," said Kanwar Dhillon, CEO, Dhillon group.

The 25-old-graduate in administration from the University of Texas said the investment for the Mohali project is going to be Rs 900 crore and in Patiala Rs 750 crore. Work on both the projects will begin by 2006 and will take 4-5 years, according to him.

Apart from local demand, there is demand from NRIs.

The township will comprise villas, apartments, town houses, along with a limited number of plots. "We are going to follow the concept of quality, affordability and green living. The self contained township will have recreation centres, school and commercial plots," said Dhillon.

The group is also exploring ideas for residential dwellings on a large scale development in the Baddi belt.

To make a pan-India presence the group will soon be venturing for a joint venture into the hospitality sector with tie-up with a foreign chain.

"Acquisition for the 200-250 room business hotel with an investment of Rs 150 crore should take place by 2007 in either Bangalore, Bombay, Delhi, followed by two-tier cities like Ahmedabad, Chandigarh, Amritsar,"stated Dhillon.

After setting the first multiplex-cum-shopping entertainment centre in North India--Dhillon Fun republic in Chandigarh, the group is going to set up a hotel , multiplex , conevention centre, trade mart, office building space, hyper market, large format factory outlet in 2.8 million square feet in Zirakpur, Punjab.

"Work for the first phase of the Rs 750 crore project will begin in the second quater of 2006, comprising of multiplexes and the commercial set up," commented Dhillon. The group is looking to open multiplexes in Jallandhar, Amritsar, Patiala, Bathinda, Ferozepur, Barnala and Sangrur.

"As first mover in untapped cities across Punjab, we anticipate to do a turnover three times from the current,"quipped Dhillon.