Omaxe to set up township in Pantnagar-Rudrapur

Omaxe Ltd, a Delhi-based construction company, is setting up a township at the Pantnagar-Rudrapur industrial area in the Kumaon region with an investment of Rs 500 crore.

The company has purchased 46 acres of land in the area to construct nearly 2,200 residential flats in the "Omaxe Riviera" township, according to marketing officials.

The foundation stone for the project was laid by Uttaranchal Assembly Speaker Yashpal Arya at a function in Rudrapur yesterday.

On the completion of the project, the company will provide 60 per cent of the flats for the managers and staff of the corporate houses, which are setting up shop in the Pantnagar industrial estate, which has attracted investments from top-notch companies like Dabur, Britannia, Bajaj Auto and Tata Motors.

Under an agreement with the State Industrial Development Corporation of Uttaranchal Ltd (SIDCUL), the company has set a quota of nearly 1,500 flats to be given to corporate houses. The rest would go to the general public, they said.

There will be nine categories of flats, which include 2-, 3- and 4-bedroom sets, some of which will have servant quarters also. The company was also giving some discount to corporate houses, the officials said.

In addition to the flats, the company would also set up a food fort, a multiplex, a commercial mall, a club and a local market. Two swimming pools are the added attraction of the township.

Nearly 375 companies are setting up new industrial units at the Pantnagar industrial estate. Initially the Pantnagar estate was being developed on 3,339 acres of land but now since Tata Motors has bought 1000 acres of land, the SIDCUL will expand the estate.