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 Kalpataru Plans Foray In City

Date : 2007-05-07

IN THE next five years,the city's skyline will be defined not by the buildings and apartments that were here since years,but by a group of new and ultra modern townships.
After Sahara City Homes,Mumbai-based Soham Group,the Empress City Project,another major developer which has now firmed up its plans to enter the city is the Mumbai-based construction giant Kalpataru Properties Private Limited.
According to sources close to the development,Kalpataru Properties,which has to its credit some of Mumbai's best townships,has already started purchasing land off the Wardha Road and was eagerly scouting for more of it."The group,which also specialises in building of state-of-the-art shopping malls and multiplexes,is planning to come up with an ultra modern township in Nagpur,somewhere off the Wardha Road," said the source.
Initially the group was planning to purchase some 140 acres of land to develop its township but later the area was increased to close to 240 to 250 acres."The team from Kalpataru discovered that the basic infrastructure like power station,power back-up,24-hour water supply etc were common in every township,"he said.
And the cost comes out to be almost the same whether the land is of 140 acres or even 250 acres.Since,the difference was not to much in smaller and bigger townships,the effective cost of a project is completely justified if it was a big one.Hence,Kalpataru hiked its land requirement.However,nothing concrete has yet been finalised,the source added.
The Kalpataru group,which was founded in 1969,has diverse areas of operation.Apart from real estate and property development,the group has presence in property management,power transmission towers,plastic processing, and office supplies.
However, the group's major expertise lies in its flagship company-Kalpataru Properties Private Limited. The Company's official website read that the company was one of the largest civil contracting firms in the Middle East,based in the UAE during the period 1974-1982 and employed over 7,000 people.
Currently,in India,the company has to its credit some 75 landmark constructions and has a turnover of over USD 200 million.