Alpha G Corp to set up township in Amritsar

Real Estate player Alpha G: Corp Development Private Ltd has plans to set up an integrated township in Amritsar. The project cost is about Rs 500 crore for the first phase of the development, which includes the cost of land and infrastructure. The completion process will be in a phased manner over a period of three years for the entire township entailing three phases.

The change in land use has been obtained by the company for the project. However, all other necessary formalities of obtaining government approvals are underway. The launch of the project is scheduled tentatively towards the end of 2010.

Further, in order to execute the project, the company has signed an agreement with Punjab-based Venus County Developers Private Ltd. The affiliation will bring to Amritsar one of the city’s largest integrated township on the Grand Trunk Road.

“We are developing Alpha International City under our world recognised Real Estate Asset Management (REAM) model, while Venus County Developers are the promoters who will provide the necessary funds,” said S K Sayal, Director & CEO, Alpha G: Corp.

The township would offer service apartments, premium residential complex, an international school, state-of-the-art medical facilities, a shopping complex, a club, modern sports facilities like swimming pool, squash, badminton and tennis courts, indoor games and a well-equipped, elegant banquet hall. Designed by ARCOP, leading architects of Montreal, Canada, the township will also offer living conditions of an international standard to residents across different socio-economic categories.

Also, the company has invested over Rs 350 crore in the first phase in creating mixed-use development Mega Project ‘Alphaone’ in Amritsar. Spread over 1 million square feet, the Amritsar mixed-use development project, is the single largest such project in terms of revenues and expenditures, area of construction, retail space and quality of development in the region and is thus catering to Amritsar and the emerging satellite towns.

The company undertakes projects through acquisitions, joint venture development and real estate asset management that includes development and management. The company is building large-scale integrated townships, city centre projects, commercial and residential projects across India. It is developing residential, retail and mixed-use projects encompassing an area of more than 40 million square feet in Gurgaon, Amritsar, Ahmedabad, Karnal, Fatehabad,Jallandhar, Jaipur, Goa and Meerut.