And, how has rents of commercial premises changed over the years?
We started at Rs 16 to Rs 17 per square foot. Now it is Rs 36 to Rs 38 per square foot.
Nanded city is being developed by Magarpatta Corporation or you as an individual?
Magarpatta is developing it along with the landlords there.
Do the shareholders remain the same or do you have different partners?
Both Magarpatta and those farmers will hold shares in the city.
What is the shareholding pattern?
Fifty one per cent is held by the Magarpatta group and 49 per cent is distributed among the farmers who have given land.
What is the total cost of Nanded city?
Its too early to estimate that now.
How are you funding it?
The land is already there. We have initial bookings and Magarpatta will put in the initial funds.
Will it be constructed like Magarpatta city where most of the work was done by you and your partners or will the work be outsourced?
It will be on the same mode.
Last time your partners were making bricks, this time can we expect a cement plant or steel rods making companies being started by you or your associates?
We will do what is our core competency. Our core competency is not making cement or steel. We don’t want to do what we do not know. Bricks we are making, fabrication we are doing, construction we are doing.
Also read: World's top 10 economies
| Live updates on money.rediff.com |
|
Advertisement
