Cidco, the government’s town planning and development authority has rolled up its sleeves to enter the global market of corporates with its biggest land deal. Plots spread over 140 hectares will be auctioned early next year for the corporate park project estimated to earn a whopping revenue of over Rs 30,000 crore.
The funds generated will be a major boost for Cidco’s infrastructure projects. Cidco MD Lokesh Chandra told TOI on Monday, “The global auction of the plots will be done in phases. The designing for the destination meant exclusively for bigwigs has been done with the focus on making it attractive or why else would global players come.” The park, to be set up in Kharghar, will be different from Mumbai’s
Bandra Kurla Complex
(BKC). It is a mini-township where corporates can walk to work. The park, expecteed to have a floating population of 1 lakh, will be self-sustainable with educational centres, hospitals and entertainment hubs. Cidco has to now vie with Abu Dhabi that is developing one such project, with other notable ones being Canary Wharf in London and Vancouver. The park will have plots with 3 FSI in-principle sanction from the state. Towers can go up to a height of 45m, conforming to flight rules, since it falls in the range of the upcoming
Guidelines for the margin and open spaces required for the final sanction are being worked out for which development control regulations under the MRTP Act will be modified by the government, sources said. The plots will be auctioned simultaneously and Rs 600 crore will be spent by Cidco for developing the plot. The park is expected to start shaping up in two to three years.
Cidco has approved the design put together by the selected consortium that will also advise on the marketing. The design is being given final touches. The consortium has Lead India as partner, financial companies and a noted Hong Kong firm as the architect. The corporate park will have an independent design and there is an attempt at drawing the attention of global MNCs and Indian companies.
The park will have residential premises with luxurious lifestyle facilities in the backdrop of the golf course, Central Park and Pandavkada Hills. A coastal road that allows one to reach the airport in 10 minutes will be free from snarls. The Metro link will be the other vital connectivity.