Unitech, the New Delhi-based national construction company which derives a large proportion of its revenues from real-estate development and construction including both residential and commercial has tied up with a local developer, Bajwa Developers Pvt Ltd in the Kharar residential project for flats under the name, Sunny Enclave. After having a strong hold in almost all the states, Unitech is planning to explore the Punjab region which according to it has a huge potential.
Another big national player, Omaxe Ltd has also forayed into collaboration with Bajwa Developers Pvt Ltd for residential project on the same Kharar-Mohali Highway. Bajwa Developers Pvt Ltd is a flagship company of Bajwa Group of Companies. It has already such collaboration with Omaxe in Patiala residential project.
Omaxe has executed several construction contracts for a number of prestigious Indian private, public sector and Multinational's clients, such as: Apollo hospital, Birla Institute, DCM group, Amity University, Apeejay group in the Private Sector, IIT, Delhi High Court, DDU Hospital, PGI Chandigarh in the Public Sector and for Coke, Pepsi, Samsung, LG etc for the MNC's to name a few.
Omaxe's projects under development are spread across 30 towns in 9 states including Haryana, H.P. M.P. Punjab, Rajasthan, Uttaranchal and U.P The present focus of the company is on developing Integrated Townships, Group Housing, Shopping Malls, Multiplexes, Hotels, Resorts, IT Parks, Biotech Parks and SEZs.
Sunny Enclave on the Kharar- Mohali Highway is a 400 acre residential project of which 250 acres has been developed and 150 acres is under development. It is a much sought after location not only by the Punjab residents but also by the NRIs looking for residential properties in this region.
The enclave can be easily accessible due to its location right on the main Kharar- Mohali Highway. The area is very much developed in an organized manner with proper road connectivity, planned sewerage systems and complete electrification which not only enhances the beauty of the place but also makes it a one time destination by one and all.
Sunny Enclave is one of the pioneers of PUDA approved project in the region. The approval by the state not only added credibility but also increased its value to the project as it is bound to follow all the norms of the state government like 60% land has to be reserved for parks, commercial complexes, schools, hospitals and other basic amenities. This ultimately appreciated the property prices in Sunny Enclave.
The mutual collaboration of Bajwa Developers with Omaxe and Unitech is surely going to help it in several ways. It will not only enhance the credibility but also built a brand image of this local developer. Mr. Janail Singh Bajwa is the promoter and Managing Director of the Bajwa Group of companies. Mr. Bajwa is a well known renowned real estate developer and colonizer. He was awarded the Best Entrepreneur of 2006 by the President George Bush hosted in US.
On the other hand the national developers are also going to benefit from the collaboration. Rather than buying the land directly from the farmers and the owners and then setting up a housing project, it is much convenient for the national builders like Omaxe and Unitech to enter into collaboration with the local developers like Bajwa who already have a strong hold on the local area. This eliminates all the hassles of acquiring land from the individual owners and saves much of their efforts in time and money.
How can the end consumers be left neglected from the benefits of such collaboration? They will be provided complete organized township with national standards. This would surely increase the demand of residential property in Sunny Enclave and result in appreciation of its rates which is at present around Rs. 12,000 per square yard.
Owing to the huge demand for space in this region which is due to increasing number of industries mushrooming in Mohali and other areas in close vicinity, many such more tie-ups will be coming up in the future. This will not only be beneficial to all the parties including local and national builders but also the local and international investors who are looking for value for their money. |
