DLF Is Increasing Pressure On Government For Dankuni Township Project

Singur may be grabbing headlines, but it isn’t the only project where the West Bengal government has ‘landed’ itself in a mess. Another storm is developing just 20 km away from Singur, where DLF is growing annoyed with its proposed Dankuni township.
The real estate giant has threatened to pull out of the thirty three thousand crore rupees project since no progress has been made in the case for months and the company is yet to get ownership of the land. State urban development minister Asok Bhattacharya confirmed that DLF had increased pressure on the government.
“The project is not making any headway and DLF is telling us that they’ll pull out if the situation continues,” he said, pointing out that with the entire district administration in Hooghly focusing on Singur, hardly any other work is getting done.
“There’s also opposition to the Dankuni project at the local level. It would have generated huge employment in the state. We are still trying to convince DLF,” the minister said. The Dankuni township is one of the biggest real estate projects in the country covering over 4,840 acres to be built through public-private-partnership over ten years. It is also the biggest PPP project in the country.
The company has already paid two hundred seventy crore rupees in advance to the government, which is supposed to hand over the land after procuring it.

One Comment

  1. Posted September 1, 2008 at 11:45 pm | Permalink

    Increasing interest rates and rising construction costs are changing the mood of many aspiring homebuyers, because of which real estate developers are changing their strategy to keep their business going. They are now switching either to so-called affordable housing projects or high-end customers, who mostly buy cash down or with limited amount of borrowing. Many developers are opting for low-cost housing – the latest to come on board is Bangalore-based Puravankara Projects, which is planning to build 65,500 low-cost flats in five southern cities over the next five years. Realty major, Omaxe is building 1 lakh houses across cities in northern India – the flats would be priced between Rs 1,000 and Rs 1,100 per square foot. “Most large developers have now woken up to the fact that affordable housing projects have the fastest absorption rates and are focusing on this,” said Mr. Anuj Puri, chairman of realty consultancy company, Jones Lang LaSalle Meghraj.For more view- realtydigest.blogspot.com

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