MANUFACTURING COMPANIES ENTERING REALTY MARKET
The shining real estate market in India has now attracted even small as well as medium scale manufacturing companies. In fact, around 6 to7 companies have even announced real estate projects either with partners or monetized their prime land assets.
Some of such companies are:
Textile company Arvind announced a residential complex across an area of 10,00,000 sq ft in Ahmedabad, in partnership with B Safal Group.
Cable Corporation of India (CCI) plans a project in the western India. The project is located in Borivali area of Mumbai and will be a project worth Rs. 1000 cr.
Usha Martin, the steel wire maker recently launched a residential project in Boisar, on the outskirts of Mumbai, and also plans to come up with more such projects in Bangalore and Pune.
Golden Tobacco and Hindustan Composite are next on the list who have not exactly launched projects but have sold their lands to Wadhwa group and Sheth Developer respectively for real estate projects.
Similarly, Reliance Group, Bombay Dyeing and Century Textiles etc are entering into this market.
Thus, conclusion can be drawn that the manufacturing companies are now hitting the realty market.