Infrastructure developer Unicity is setting up what is touted to be north first business park at Zirakpur, near Chandigarh. The project is located on the Delhi-Shimla highway in Chandigarh, with proximity to the airport and Chandigarh railway station.
Navin Bansal, partner in Unicity Group, told FE that a unique feature of the project is the assurance of a minimum of 9-12% return on investment. He said the Unicity business park would have a carpet area of about 1,25,000 sq feet. He said the company has already acquired land for the project. A visit to the project site revealed that construction work for the project was in full swing.
What would make the business park unique in the region is the futuristic approach of the developers, who have earmarked the ground floor of the six-storey park exclusively for banks and hyper-markets, with facilities of video conferencing.
Bansal said despite the recession, the time was just right for entrepreneurs to set up new businesses and the business park would offer this opportunity. Bansal said Unicity was also hoping to attract executives who had been issued pink slips and who were looking to set up their own projects.
He made it clear that there would be no retail business on the floors reserved exclusively for offices, in an effort to provide a befitting atmosphere. Besides, there would be a 24×7 cafeteria on the top floor. He also claimed that necessary approval from the state government had already been obtained.
Unicity director Jeevan Bansal said the group had earlier set up commercial and residential projects in various parts of Punjab, including a complete township on 60 acre and two shopping malls in Bathinda. The group has also set up Unicity Mystic Homes project at Zirakpur.
For the middle class, the group has also planned budget homes at Zirakpur. The group has plans to come out with a big residential project in Himachal near Shimla.