Vascon plans Rs 25 crore residential project in Nashik

Opens its first IT park in city

Pune-based Vascon Engineers Ltd is planning to commence Phase 2 of ‘Vista’, its residential project, at Indiranagar in Nashik, with Rs. 25 crore investment. Besides, the company has just opened its first IT Park in Nashik, with a built-up area of 3.5 lakh sq ft.

"We are planning to commence the 2nd phase of our residential project ‘Vista’ near its IT Park in Nashik. In the 2nd phase, we will build 4 buildings on 2.5 acres of land with total built-up area of 2 lakh sq ft. These four buildings will have total 120 flats in both 2BHK & 3BHK categories, with a built-up area ranging from 900 sq ft to 1400 sq ft,” said R Vasudevan, Managing Director, Vascon Engineers, at a press conference here.

The 1st phase of Vista includes around 120 flats on 3 acres. Out of 120 flats, around 80 per cent of flats have been sold out so far.

The group has invested Rs 40 crore in its IT Park called‘V-Tech’. The company has created two buildings, spread on 7 acre plot with a total built-up area of 4.5 lakh sq ft. The BPO major WNS has already occupied built-up area of 55,000 sq ft in IT Park. “The way we are getting response, we are confident that these two buildings of IT Park will be fully occupied in a year’s time. We expect to commence the construction of third building within the next 3 to 6 months,” R Vasudevan said.

“Two very good IT companies are looking at Nashik to commence their back office operations from Nashik and they are in talks with us to occupy office in our IT Park in Nashik,” he said, without divulging further details.