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 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 in 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 non-resident Indians (NRIs).

The township will comprise villas, apartments, town houses, apart from a limited number of plots.

"We are going to follow the principles 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 large-scale development in the Baddi belt.

To have a pan-India presence, the group will soon be venturing into a joint venture in the hospitality sector with a 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, Mumbai, and Delhi, followed by two-tier cities like Ahmedabad, Chandigarh, and Amritsar," Dhillon said.

After setting up 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, and a large format factory outlet in 2.8 million square feet in Zirakpur, Punjab.

"Work on the first phase of the Rs 750-crore project will begin in the second quarter of next year, comprising multiplexes and the commercial set-up," Dhillon said.

The group is looking to open multiplexes in Jalandhar, 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 one," Dhillon said.

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