The work for developing the basic infrastructure has already begun and we will officially launch the project near Diwali, Group director Atul Gupta informed FE.
The industrial park will be spread across villages including Bhagwanpur, Kuranwala, Rampur Sainian and Harimpur Hiduan.
The Group expects companies from Chandigarh, Mohali and Panchkula to expand base in the upcoming industrial park, as the plots are being offered at one-tenth of the prices prevailing in the adjoining areas. The plots are being offered to the investors at Rs 7,000 per sq yard which will increase to Rs 8,000 / sq yard for the general public. Atul added, In the pre-launching stage, we offered plots to the investors and have already booked 50 plots. Industries like nuts & bolts, printing, automotive parts, outsourcing units for pharma companies etc can flourish well in the industrial park. We expect revenue of around Rs 150 crore from this phase of the project.
The industries setting up units in the industrial park will not be charged any stamp duty on the purchase of the plots. Moreover they will also be exempted from 50% duty upon availing electricity connections for five years. There won't be any maintenance charges for water, sewerage, street lighting etc for the first three years. To ensure regular power supply a power grid will be installed within the premises besides a sewage treatment plant. The Group has presented a 500 sq yard plot to the Dera Bassi Industrial Association for the construction of a three storeyed exhibition cum- convention centre at the park, he added. Once the first phase will be complete we will launch the second phase of the project next year, he said.