Ijm In Pact To Set Up Township In Mohali
The Hyderabad-based IJM (India) Infrastructure Ltd, a subsidiary of IJM Corporation of Malaysia, has entered into a memorandum of understanding (MoU) with the Punjab Urban Development Authority to develop a township at Mohali near Chandigarh.
The MoU envisages constructing a township in 500 acres comprising two units of 250 acre each.
The project cost is yet to be finalised and the preliminary estimates are at Rs 1,300-1,500 crore. The project comprising luxury apartments, independent bunglows, swimming pools, and multiplexes apart from space allocated for open plots with lush greenery and it would be completed in 7-8 years, according to a release here.
IJM Infrastructure, in a joint venture with the Andhra Pradesh Housing Board, is currently executing a township at Kukatpalli in Hyderabad.
This project, spanning over 34 acre, will have about 2,200 apartment units with commercial complexes and wide roads.