Tatas' drive into Sanand area for their Nano project has given a major fillip to Mumbai-based real estate major K Raheja Corp to set up its support infrastructure projects in the area.
The Raheja group is aiming for residential and commercial projects besides setting up a logistics park. This could well be the first big ticket investment in the area, besides Nano.
The group has acquired close to 400-500 acres in Sachana village, which is at a stone's throw from the Nano project coming up in Chharodi. Raheja has acquired the land under an SPV-Sentinel Properties, according to land revenue records.
"We have acquired 150 acres of non-agriculture land and we are in the process of getting the remaining land. The area is poised to be the new industrial corridor," said Pankaj Kotak, head of business development for Gujarat.
The company had begun land acquisition much before the announcement of Nano. Raheja was planning an exclusive logistics park initially. However, with the Nano project, the company is weighing various other options. Kotak refused to divulge further details on the project.
"We are planning to set up a support infrastructure project in the acquired area. This will include community living and a logistics park. Currently, we are freezing the plans and will finalise it including the design in about three months," said Vinod Rohira, director of K Raheja Corporation.
Raheja is also likely to include a commercial and hotel project in the area. The project is close to Kandla and Dholera ports and is linked to the SG Highway and upcoming airport at Federa. Sachana also falls under the Delhi Mumbai Industrial Corridor (DMIC), a special investment region, which is being built by the government in association with the government of Japan.
