Sindhu Trade Links Ltd is undertaking development of a mixed use township at Bilaspur, Chhattisgarh. Bilaspur, also known as ‘The City of Festivals’, is one of the 100 Indian cities to be developed as a smart city under the Smart Cities Mission.
The proposed township is spread over approx. 53 acres, out of which the company already owns approx.47 acres of land and has tied up with other partners for another 16 acres approx. The project consists of Residential Plotted Development, Residential Group Housing, Retail Shopping Mall and also consists of all the required social infrastructure for a world class development in this region. The total development potential of the site is approx. 1.5 million sq ft, with some possible upside on built up villas & apartment sales in later phases, instead of plotted land sales.
The total revenue potential of this development is approx. Rs 550 crore, based on the ongoing property rates in the vicinity. STLL plans to invest close to Rs 200 crore in this project, with funds being raised through internal accruals and construction finance.
The company is all set to start this project in the current financial year 2023-24. The project is expected to be launched in Q4 of this financial year and STLL will be able to book revenue stating next financial year.
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According to the company, the development plans are being finalised and would be submitted for approval soon. Colonizer License has been obtained and site demarcation is complete. Also, STLL is in the process of obtaining the required approvals & NOCs from various government departments. STLL would apply for approval from Chhattisgarh Real Estate Regulatory Authority (CGRERA) at an appropriate time. Even the Chhattisgarh government has decided to ease the norms for developing colonies. The state government has also launched a ‘Single Window System CG Aawas’ to facilitate the initiative which will enable completion of the entire approval process within 100 days.
Besides this, the company is also looking to explore some other real estate developments in the near future on the various lands owned by the company across various locations in the country and expects that this division of the company will be a major contributor to the revenues and profits of the company in the years to come.