MADC in Nagpur nets in Rs 43 crore through land lease to build luxury residences

The Maharashtra Airport Development Company (MADC) recently made headlines by leasing out two plots of land in the Mihan project for the construction of high-end flats. The plots, each measuring 4 acres, were leased out to two city-based builders through an e-tender process, which brought in a total of Rs 43 crore for MADC. The Vice Chairman-Cum-Managing Director of MADC, Deepak Kapoor, made the announcement via a tweet, which garnered attention from real estate developers and investors alike.

Mihan, which stands for Multi-modal International Hub Airport at Nagpur, is a special economic zone (SEZ) developed by the Maharashtra government. Located near the Nagpur airport, it has been developed to promote trade, commerce, and industrial activities. The SEZ has already attracted several global companies, including Boeing, TCS, Infosys, and HCL, among others. The project also has a Domestic Tariff Area (DTA) nearby, which is being developed by MADC for the establishment of residential and commercial complexes.

MADC has been actively promoting the development of the real estate sector in the Mihan project to cater to the growing demand for housing and commercial spaces. The two plots that were recently leased out to the city-based builders are expected to contribute significantly to the development of the high-end residential complexes in the area. Moreover, the lease agreement is also likely to boost the confidence of other real estate developers, who are looking to invest in the Mihan project.

M/s Om Shiv Buildcon and M/s Ajnani Krupa emerged as the highest bidders for the two plots, bidding Rs 14,551 and Rs 13,044 per square meter, respectively. This marks the second plot acquired by Anjani Krupa through the bidding process. According to sources, the company plans to build a commercial-cum-residential complex in accordance with the mandate of MADC. The plot's location, which is close to the Khapri Metro station, is expected to add to its commercial value and attract buyers.

Industry experts predict that the development of properties in the Mihan area will provide more affordable options for buyers compared to rates in the city. The project's location, which is well-connected to other parts of the city, makes it an attractive investment opportunity for real estate developers. Moreover, with the government's continued support for the development of the Mihan project, it is expected that more such lease agreements will be made in the future.

In conclusion, the leasing of the two plots in the Mihan project by MADC is expected to provide a significant boost to the real estate sector in the area. The development of high-end residential complexes in the SEZ is expected to cater to the growing demand for housing in the region and provide more affordable options for buyers. With the government's continued support and the interest shown by real estate developers, the Mihan project is poised to become a major investment destination in the years to come.

The Maharashtra Airport Development Company (MADC) recently made headlines by leasing out two plots of land in the Mihan project for the construction of high-end flats. The plots, each measuring 4 acres, were leased out to two city-based builders through an e-tender process, which brought in a total of Rs 43 crore for MADC. The Vice Chairman-Cum-Managing Director of MADC, Deepak Kapoor, made the announcement via a tweet, which garnered attention from real estate developers and investors alike.

Mihan, which stands for Multi-modal International Hub Airport at Nagpur, is a special economic zone (SEZ) developed by the Maharashtra government. Located near the Nagpur airport, it has been developed to promote trade, commerce, and industrial activities. The SEZ has already attracted several global companies, including Boeing, TCS, Infosys, and HCL, among others. The project also has a Domestic Tariff Area (DTA) nearby, which is being developed by MADC for the establishment of residential and commercial complexes.

MADC has been actively promoting the development of the real estate sector in the Mihan project to cater to the growing demand for housing and commercial spaces. The two plots that were recently leased out to the city-based builders are expected to contribute significantly to the development of the high-end residential complexes in the area. Moreover, the lease agreement is also likely to boost the confidence of other real estate developers, who are looking to invest in the Mihan project.

M/s Om Shiv Buildcon and M/s Ajnani Krupa emerged as the highest bidders for the two plots, bidding Rs 14,551 and Rs 13,044 per square meter, respectively. This marks the second plot acquired by Anjani Krupa through the bidding process. According to sources, the company plans to build a commercial-cum-residential complex in accordance with the mandate of MADC. The plot's location, which is close to the Khapri Metro station, is expected to add to its commercial value and attract buyers.

Industry experts predict that the development of properties in the Mihan area will provide more affordable options for buyers compared to rates in the city. The project's location, which is well-connected to other parts of the city, makes it an attractive investment opportunity for real estate developers. Moreover, with the government's continued support for the development of the Mihan project, it is expected that more such lease agreements will be made in the future.

In conclusion, the leasing of the two plots in the Mihan project by MADC is expected to provide a significant boost to the real estate sector in the area. The development of high-end residential complexes in the SEZ is expected to cater to the growing demand for housing in the region and provide more affordable options for buyers. With the government's continued support and the interest shown by real estate developers, the Mihan project is poised to become a major investment destination in the years to come.