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DLF, Unitech Working Together To Snag Major Realty Project
DLF and Unitech are fierce competitors buy they value friendship and professionalism which have brought them together for an exclusive real estate project to construct a township and an SEZ in Dankuni in Hoogli district of Kolkata.
It would be a 50:50 revenue sharing plan and both the real estate giants will be investing a total of 33,000 crore in a 5,000 acre development.
Commenting on the idea of entering into a joint venture with DLF, Unitech says, “The scale of projects is such that they cannot be handled by a single player.”
The project is a tie up with the Kolkata Metropolitan Development Authority where DLF and Unitech paid a whopping Rs 56 lakh per acre for acquiring the land.
The two companies have well divided the property between themselves. The development of township and industrial hub has come in share of DLF. Of a total 5,000 acres, about 2,000 acres will be housing largely developed by Unitech.
The work spirit of both the companies has surprised the investors who were evaluating the future prospects of DLF versus Unitech. The competition has given a way for cooperation.
Dankunji project is such an example at a time when land prices are going through the roof and Kolkata is fast emerging as one of the preferred investment destinations.
Land acquisition is to begin soon shortly on this project. The township is to come up in 15 years and will house eight hundred thousand people.
The procedure of land acquisition for the concerned project is to begin soon shortly. The township will be over by the next 15 years and will provide housing for eight lakh people.
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