Having ventured into the Guwahati real estate market in 2010 and commissioned one of its “elite” residential projects within a span of just two years, the Kolkata based Infinity Infotech Parks Limited (IIPL) is now looking at further expanding its footprints across North-East.
The company will soon take up two mega-residential projects near Guwahati, one for mid-income segment and the other for economically weaker section. Besides, work on the ambitious Rs 400 crore IT Park project too is expected to begin later this year. As a whole, the company will be investing to the tune of Rs 1,000 crore in Assam in next 3 to 4 years and would also look at opportunities to venture into other states in the region.
“We have lined up Rs 1,000 crore investment; to be made in Assam in next 3 to 4 years. This would include the IT Park and two residential complexes in and around Guwahati,” said Ravindra Chamaria, chairman and managing director of IIPL.
The company in 2010 had undertook two “elite” residential projects of Rs 200 crore and on Sunday on of the projects, situated in Kalapahar area of Guwahati, was inaugurated. The two residential projects were based on “Green Homes” concept, the first of its kind in North East. The second project, which is under construction, will come up at Ulubari area.
Chamaria said the company received good response to its maiden project and thus have decided to take up more residential projects in Guwahati.
“The real estate market in Guwahati is very buoyant. There is a demand for quality infrastructure. If you can build quality houses, people are willing to buy,” said Chamaria.
He said the two new residential projects would be located in Dharapur and Amingaon, near Guwahati. Both the projects will have around 800 flats each and would be reasonably priced.
The IT Park, which will come up in Madgharia near Guwahati, too would be the first of its kind in North East and would have” state-of-the-art” and “world-class” infrastructure.
Chamaria said work was expected to begin later this year as all formalities had been completed and clearances obtained. The IT Park is expected to be completed within next 5 to 7 years. Once completed, the IT Park would house around 100 units and employ around 20,000 people.
When asked if the IT Park would be able to attract investment, Chamaria said: “For IT companies to come and invest, you need world-class infrastructure. If we can provide them with such infrastructure, they will surely come and invest.” He further added that IIPL was in touch with several IT companies to come and invest in the Park. “I have talked to many of them and they are very much interested to invest here.” Said Chamaria.
Some of IIPL’s clients include HCL Technologies, Mphasis, KPMG, Bharti Airtel, Nortel Networks etc. Infinity has been pioneers in creating infrastructural solutions for the IT and ITes sector in India and abroad. The twin tower ‘Infinity Think Tank’, ‘Infinity Benchmark’ and ‘Godrej Waterside’, in collaboration with Godrej Properties, are few landmark infrastructures constructed by Infinity in Kolkata.
Chamaria said that the company was “looking at opportunities” in other North Eastern states to venture and invest.
