In the twin township of Yamunanagar and Jagadhri there are hardly any proper shopping places, cinema halls or hangouts for young people. Now there is some good news for the residents. A residential township has been launched and a multiplex with three cinema theatres and 50 exclusive showrooms is under construction at Jagadhri Aerens Jai House and the recently launched ‘Aerens Jai City’ which is to come up on 54 acres with 50 per cent open areas for parks. Kailash Gupta, managing director, Aerens Jai House, claims, “The city would be equipped with modern amenities and facilities for luxurious living. The Aerens have planned a fully air conditioned shopping mall, round the clock security, wider roads, electricity sub station, underground cabling, swimming pool and primary school.” The MD said in Jai City one could opt for freehold plots or buy a built-up residential villa. Aerens Jai City would be described as patches of concrete amidst wide open greens. There will also be a multiplex, health club and ample space for children to play, he said 
Meanwhile, town-based Dimple Cinema has been demolished in order to build Daffodil, a multiplex with three cinema, a food court and exclusive showrooms.

Madhucon plans toll roads

Infrastructure builder Madhucon Projects plans to develops 1,000 km of toll roads in two years in a shift from building roads to operating them in search of profitability, an executive said. With the National Highways Authority of India (NHAI), which promotes most inter city road projects, encouraging private players to fund them, Madhucon’s road building expertise would come in handy, finance director S. Vaikuntanathan said.

Unitech to invest Rs 1,800 cr

Unitech will invest Rs 1,800 crore in the next 4-5 years to develop a residential township in Greater Noida, which would have around 4,500 apartments. Unitech has bagged 100 acres of land at Rs 556.44 crore from the Greater Noida Authority to develop group housing project. “We are planning to develop 4,500 apartments that would involve an investment of Rs 1,800 crore including the land cost of Rs 556.44 crore,” managing director Sanjay Chandra said 

3i to park $40 million 

Private equity investor 3i has said it would invest $40 million (about Rs 180 crore) in the Indian real estate market. The investment would be made through real estate focused venture capital fund, 3i said in a press note. The fund is promoted by Ajay Piramal and is focused on the Indian real estate sector, which invests in projects governed by foreign Direct Investment guidelines, the note said.

Lemon Tree plans expansion

US-based equity investment firm Warburg Pincus has picked up stake worth Rs 280 crore in the hospitality chain Lemon Tree Group, which has embarked on a Rs 500 crore expansion to set up nine new hotels over the next to years.” 
We will be setting up nine new hotels in the major towns of the country in the next two years and would invest Rs 500 crore in the expansion,” Lemon Tree Hotels chairman and managing director Patu Keswani said. He said the expansion would be funded party through equity investment from private partners.

—Compiled By Ummul Saba

September 2006