Alpha's Rs 500-cr township coming up at Karnal

Delhi-based private developer Alpha G:Corp is coming up with an integrated township "Alpha International City" at Karnal which aims to provide a metropolitan environment in tier II cities.

The Rs 500-crore project will be spread over 250 acres in sectors 28 & 29 on NH-1.

"We are going for licensing in a phased manner," said S K Sayal, CEO, Alpha G:Corp. Giving further details, he said in the first phase, licence has been approved for 62 acres. The second phase will cover 80 acres and the licensing process for it was in an advanced stage and another 100 acres of land will be added in the third phase, he added.

According to Sayal, work on the Alpha International City project will be initiated by October 2006 and in two years' time, the project will be completed. The integrated township, where residential plot development is being earmarked along with establishment of infrastructure, healthcare, schools, security, retail and commercial establishments, will be developed in phases.

"In the first phase we will be allotting plots of 360 sq yards, 500 sq yards and 970 sq yards for private placements. It will be followed by built-up two, three and four-bedroom houses in the second phase," said Sayal. He said the number of plots will be around 1,200.

The project is being promoted by overseas commercial bodies (OCB's) through FDI to the tune of $250 million for the development of multiple projects, the Karnal development project being the first. The two-year-old company has a total development area of 30 million sq feet in India.

Currently, the company is in the process of finalizing sites for large-scale development in other cities, towns and townships with 100 per FDI. Under consideration are four integrated township projects comprising world-class infrastructure and development in Punjab and Rajasthan.

Giving details, Sayal said, "With an investment of Rs 100 crore we are coming up with Alpha One Retail store in Amritsar spread over 6 lakh sq feet. Along with it will be a four-star business hotel promoted by The Ananda which will be spread over 2 lakh sq feet area.The project has been approved by the Punjab Government and work for the project will start in May 2006."

Sayal said the company is developing another township in Amritsar over 140 acres of land with an investment close to $30-35 million.