Modern India disclosed investment plan

Mumbai-based Modern India Ltd has planned two thousand crore rupees investment plans for Rajasthan. Further, it also plans to construct a five-star hotel in Udaipur and a special economic zone (SEZ) in other parts of the state.
Vijay Kumar Jatia, Chairman and Managing Director of the company told that they have identified land for the for a five-star hotel in Udaipur. They will very soon start acquiring land for the two hundred room hotel, which would developed near a lake.”
The hotel project is predicted to cost one thousand crore rupees and the company is also interested in setting up a SEZ in Rajasthan.
The company through its subsidiary, Modern India Property Developers Ltd, is already developing an electronic hardware and software SEZ on around thirty seven acres of industrial land at Khopoli in Maharashtra, strategically located on the national highway 4 with connectivity from two sides.
The nine hundred crore rupees project is scheduled to be finished in three years and is being developed through a Special Purpose Vehicle in which MIL is a major stake holder. Besides developing a hotel and SEZ the company also plans to open a jewellery training institute in Rajasthan.

8 Comments

  1. Posted May 3, 2008 at 1:28 am | Permalink

    Rajasthan is being seen as great heritage to develop real estate property. It is not at all costly to start in Rajasthan and due to incredibility, it is a good business step too.

  2. Posted May 5, 2008 at 4:44 am | Permalink

    Modern Derivatives and Commodities Pvt. Ltd., is a company of Modern India Enterprises which offers customized commodities trading on Multi Commodity Exchange as well as on National Commodity & Derivatives Exchanges Limited backed by teams of research analysts’ providing value added services to the clients and associates.

  3. Posted May 5, 2008 at 4:58 am | Permalink

    After shutting down its manufacturing facility, MML changed its identity, renaming itself to “MODERN INDIA LTD” (MIL). With changes in the Government policy, MIL started to focus on other areas of business and today operates a real estate company which has developed MIL’s land bank in Mahalaxmi, Mumbai and is looking at new development projects. At the same time MIL has also started a Technical Training Institute called the “Indian Institute of Jewellery” (IIJ), which is in collaboration with the California Institute of Jewelry Training (CIJT), Sacramento, USA. MIL is also in partnership with “Gitanjali Gems Ltd” in the form of a Joint Venture in the name of “Modali” (Modern – Gitanjali). The Joint Venture looks into distribution of branded diamond jewellery and is also looking at setting up its own brand in the future. MIL is also a master distributor of GemVision Corporation, USA, having exclusive rights to distribute all GemVision products in India.

  4. Posted May 7, 2008 at 5:39 am | Permalink

    There is good news for all the people who have been disappointed seeing the recent hike in property prices. Since, houses have become unaffordable for a large segment of the population as prices have shot up tremendously in the past three years. The government is considering a proposal from real estate developers to set up SRZs outside the main cities. These SRZs are also proposed to be given tax benefits on the lines of SEZs. Developers say SRZs would help them build and sell affordable houses for as low as one-third of the existing price to low-income groups, although SRZs wouldn’t be limited to low-income houses alone. Availability of cheap land away from the city, and faster clearance through singlewindow will together bring down cost substantially. The government would require time to devise the modalities as tax incentives to SRZs would mean an additional burden on the exchequer. It will also require some implementation of regulation by government to ensure that the houses go to the intended people. This proposal once implemented will be a great move in up beating the slowdown and in meeting the acute housing shortage in the low-income segment.For more view- realtydigest.blogspot.com

  5. Posted May 14, 2008 at 11:34 pm | Permalink

    That’s a very good news for Rajasthan because the Rajasthan and Jaipur are the most coming development state which have to be the most famous as pink city.But the water problem in that some area are making some flactuation of the rates in that areas.

  6. Anil Panwar - V P
    Posted August 1, 2008 at 12:36 am | Permalink

    Fox Construction Private Limited. The Group’s principal activity is to manufacture engineered products and material for the IT Park, SEZ, chemical, industrial, energy, transportation and infrastructure markets. The Infrastructure Products Group manufactures and sells ready-mix concrete, sand and aggregates, concrete pipe and culverts and concrete and steel lighting and traffic poles. It operates in almost all parts of India.
    Proposed Business Development Park (BDP)- Delhi

    The PROPOSED BDP will be the world’s fastest growing international financial centre. It aims to develop the same stature as New York, London and Hong Kong.
    It will primarily serve the vast region between Western Europe and East Asia.

    Since it will be opened in September 2010, the PROPOSED BDP has attracted high calibre firms from around the globe as well as its region. A world-class PROPOSED BDP is a 450-acres SEZ. It is a part of the larger vision and Economic and Infrastructure reforms of His Highness Mr, Manmohan Singh Prime Minister of the Republic of India and other parties too, together with the Government of Delhi, to create an environment for progress and socio economic development in the Delhi and the wider region.
    Sectors
    The PROPOSED BDP focuses on several sectors of IT& ITEs and also including in 20 percent to financial activity related to ITES: Banking Services (Investment Banking, Corporate Banking & Private Banking); Capital Markets (Equity, Debt Instruments, Derivatives and Commodity Trading); Asset Management and Fund Registration; Insurance and Re-insurance; Islamic Finance & Professional Service Providers.

    Along with IT and ITES , Financial institutions may apply for licences in the above sectors. Firms operating in the PROPOSED BDP are eligible for benefits such as a zero tax rate on profits, 100 per cent foreign ownership, no restrictions on foreign exchange or repatriation of capital, operational support and business continuity facilities subject to SEZ norms.
    About PROPOSED BDP

    The BDP will be conceived by the Government of Delhi for the benefit of the India and the wider region as a whole. Its remit is to create a regional IT & ITES, as well as capital market, offering investors and issuers of capital world-class regulations and standards. Its hallmarks are: integrity, transparency and efficiency.

    As a new global jurisdiction for financial institutions, the PROPOSED BDP offers its participants a highly attractive investment environment, including:
     100 percent FDI.
     100 Percent foreign ownership
     zero percent tax rate on income and profits
     no restrictions on foreign exchange or capital/profit repatriation
     dollar denominated environment
     transparent operating environment with high standards of rules and regulations
     ultra modern office accommodation, state-of-the-art technology, sophisticated infrastructure, data protection/security, operational support and business continuity facilities of uncompromisingly high standards.
    But unlike ‘offshore’ tax havens, the PROPOSED BDP is a fully fledged ‘onshore’ & offshore IT & ITES market, comparable to Hong Kong, London and New York.

  7. Nandkishor
    Posted September 16, 2008 at 6:04 am | Permalink

    Reference: SEZ in Khopoli.
    Tax benefits are understandable, but from where would the project generate demand!! The markets slow, huge commercial supply under construction in Mumbai (let alone Pune), lower absorptions….i forsee very few takers for the project, atleast for the next few years

  8. Sumeet
    Posted October 19, 2008 at 4:57 am | Permalink

    Welcome to Udaipur, we are mumbai based having countryside resort in Udaipur. We are open for new tie-up for our resort as Udaipur is booming new golf course,SEZ etc coming to tourist city.

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