HCC to set up 11bn hill station near Pune
- January
- 23
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NEW
DELHI: Realty firm Hindustan Construction Co (HCC) is building a hill station
over 12,500 acres in Maharashtra at a cost of Rs 440 billion ($11
billion).
“The first phase of
the work will be over by 2010, and the whole project, which is expected to be
completed by 2020, would cost Rs 440 billion,” HCC Chairman and Managing
Director Ajit Gulabchand told reporters here on
Monday.
Nestled in the
picturesque Sahayadri mountains, along a 20-km long lake, the hill station will
have all kinds of facilities, including tertiary hospitals, five-star hotels, a
library, a golf course, leisure spa and convention
centre.
“It would be a major
educational centre as well. Symbiosis College of Pune and Christ College of
Bangalore will set up their campuses inside it. As per our agreement with Oxford
University, a business research centre will come up before 2010,” Gulabchand
told reporters.
Christened
Lavasa, the hill town, would be just an hour’s drive from Pune and three hours’
drive from Mumbai.
“We have
already spent Rs 7.5 billion on developing infrastructure and by the end of
2009, the investment amount would be nearly Rs 50 billion,” said Rajgopal Nogja,
president of the Lavasa
project.
“From residential
complex to rejuvenation centres, from studio apartments to 4,500 sq ft villas,
the hill station town would be an example of modern India,” Nogja
said.
Lavasa can be seen as a
response to the emerging need of the upwardly mobile population in a growing
nation, where one can live, work, learn and play in harmony with nature, he
explained.
Authorities said
looking at the picturesque setting nearly two million tourists would be expected
to visit the township after the completion of the entire
project.
For school education,
Lavasa has already inked a pact with the Girls Day School Trust of Britain to
provide expertise for a residential International Baccalaureate (IB) School
starting 2009, Gulabchand
added.
“A strong academia with
world-class facilities, and proximity to big cities like Mumbai, the hill
station would be a great place for both Indians and foreigners - either for
residential purpose or tourism,” Gulabchand said.
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