Kapil Dev to endorse Mohali township

Delhi-based Chadha Group has signed up with former cricketer Kapil Dev to endorse its residential township projects--Westend Estate, Mohali (Punjab).

The group is also planning to get listed on the Alternative Investments Market (a sub-market of the London Stock Exchange, allowing smaller companies to float shares with a more flexible regulatory system than is applicable to the main market).

Moreover, it is likely the group will take up real estate as a key area of growth; it has plans to invest Rs 3,000 crore in two years to start a number of residential and commercial projects in North India.

The group plans to start projects in Amritsar, Mohali, Indrapuram (National Capital Region), Dehradun, Meerut and Bareilly soon.

The group will invest nearly Rs 1,500 crore in three phases to build a mega township "WestEnd Estate", spread over 200 acres, in Mohali. The project will be funded through bank loans and internal accruals. Also, it will be coming up with a sports facility.

Commenting on partnership with Kapil Dev, Chadha Group Director Manpreet Singh Chadha said: "The WestEnd Estate, Mohali, will have a cricket field and air-pistol shooting range; to be developed in consultation with experts like Mansher Singh; a football ground; and a swimming pool of the size of those at the Olympic Games, apart from a gymnasium, a billiards room, etc. That is the reason why we are associating ourselves with Kapil Dev."

Chadha said the land acquisition process was on, and "we hope work on the other residential and commercial projects will start very soon". The group had initiated the process of getting listed on the AIM and the listing procedures and formalities were likely to take two years, he added.

The Group has interests in real estate, both residential and commercial, construction and operation of multiplexes, sugar manufacturing, paper manufacturing, distillery, and food processing. It also distributes and screens films.