Chandigarh-based Hansa Group of Industries, with interests in cold-rolled steel strips & coils and precision tubes, has diversified into real estate development and is setting up an industrial park in Derabassi (Punjab). The proposed park will be spread over 80 acres and attract an investment of Rs 132 crore.
The group has been granted approval for change in land use by the Punjab government for setting up the park.
Speaking to Business Standard, Group Director Atul Gupta said, "The industrial park is ideally located on the Derabassi-Barwala Road, which is a state highway. The proposed industrial park will be the first ever in Derabassi and the second one in Mohali district. We will develop this park in accordance with international standards over 80 acres at an estimated Rs 132 crore. It will have basic amenities like wide road links, water supply, a sewerage treatment plant, and street lights.”
“As many as 500 freehold industrial plots will be available for entrepreneurs. The plots are in sizes of 166 square yards, 250 square yards, 500 square yards and 1,000 square yards.
In the first phase, the company will offer 400 plots to the entrepreneurs at the pre-launch price of Rs 7,000 per square yard.
Already the group has sold 50 plots and expects overwhelming response from the entrepreneurs," he said.
Entrepreneurs would prefer to set up their base at the park as they could purchase land at one-tenth the prices prevailing in Chandigarh and one-fourth the rates prevailing in Mohali, he added. Also, the group has presented a 500 square yard plot to the Derabassi Industrial Association for the construction of a three-storeyed exhibition-cum-convention centre at the park.
Commenting upon the benefits, he added, "The entrepreneurs won’t have to pay registration fee for purchasing land. They will also be exempted from 50 per cent duty upon availing electricity connections for five years."
In last financial year, the group turnover was Rs 160 crore.