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M3M inks pact with Tata Realty

Real estate firm M3M India Pvt. Ltd has entered into an agreement with Tata Realty and Infrastructure Ltd to sell its proposed information technology (IT) special economic zone (SEZ) in Gurgaon for about Rs.500 crore.

M3M India’s subsidiary Mikado Realtors Pvt. Ltd had got a formal approval from the commerce ministry to develop a 25 acre SEZ for electronic hardware, IT and IT-enabled services in Gurugram with a developable area of 3-3.5 million sq. ft.

According to people familiar with the matter, M3M group has signed an agreement to transfer its shares in the proposed SEZ to Tata group firm Tata Realty and Infrastructure along with Standard Chartered Private Equity. The deal size is around Rs.500 crore, they added.

When contacted, M3M group director Pankaj Bansal declined to comment. Tata Realty and Infrastructure is a 100% subsidiary of Tata Sons Ltd to serve as a real estate and infrastructure development arm.

It has projects in Nagpur, Bengaluru, Chennai, Kochi and Amritsar, among others. M3M group has a land bank of around 2,000 acres in the National Capital Region. It is developing 16 projects, of which about 10 projects are residential.

In December 2014, M3M India bought 185 acres in Gurugram from Sahara group for Rs.1,211 crore. M3M India had in April this year paid the last instalment of over Rs.700 crore to Sahara, completing the land deal.

The 185-acre land in Gurugram, with 12 million sq. ft. built-up area, would entail mix-use development and sales revenue potential of Rs.12,000 crore, M3M India had said while announcing the deal.

M3M group had in March pledged to invest Rs.45,365 crore in Haryana over the next five to 10 years in different projects such as smart city, low-cost homes, IT park and SEZ. The company had signed three MoUs (memorandum of understanding) with the Haryana government at the Happening Haryana Global Investors Summit.

Source<> http://www.livemint.com/Companies/XIB1eIyyRVKS2i3Of38JCN/M3M-India-to-sell-Gurugram-SEZ-to-Tata-Realty-for-Rs500-cror.html

Gurgaon attracted Rs 3.5 lakh crore investments in FY15

Gurgaon has emerged as the top destination for investors in Haryana with the city attracting investments worth Rs 3.5 lakh crore, almost 70 per cent of the total inflows of Rs 5 lakh crore in the state in FY 2014-15, says an Assocham study.

Gurgaon has also registered faster implementation of investment projects as almost 95 per cent of these projects are under different stages of implementation while only about five per cent of investment projects have remained non starter, said P K Jain, Chairman, Assocham National Council on MSMEs and D S Rawat, secretary general, Assocham at a press conference in Gurgaon. 

If another futuristic city can be created on the lines of Gurgaon which is often known as a ‘symbol of rising new India’, owing to emergence of international commercial hub like Cyber City, it will help increase Haryana’s revenues by more than three times its current level, said Rawat.

“Factors like availability of skilled manpower and proximity to strong consumption markets in north India have helped Gurgaon evolve as a manufacturing and industrial hub attracting investments mainly from private sector in information technology (IT), information technology enabled services (ITeS), mechanical, electrical, textile, chemical and other sectors”, added Jain.

As of 2012-13, Gurgaon accounted for over 96 per cent of all automobiles produced in Haryana, 95 per cent of all swing machines produced and about 96 per cent of all sports goods produced in the state.

source: yourstory 

Vivo to plan manufacturing plant in Gurgaon

Chinese phone maker Vivo plans to set up a manufacturing facility at Gurgaon in India, according to its India general manager Tracy Chen.

"We have already started the process of identifying land in Gurgaon. The plant should start production within the next three years," he told mediapersons here on Wednesday.

A relatively new entrant to the Indian market, Vivo is the third Chinese mobile brand to have announced its 'India-focused' plans.

While one of its Chinese counterparts, Xiaomi, had announced that it would set up a dedicated data centre in India by 2015, the other, Gionee, had in early this year said it would establish its production unit in India in the next couple of years.

"The entry of Chinese mobile brands into India creates a level-playing field. Vivo will operate with a healthy level of competitiveness, respecting every brand in this market " Chen said.

The 20-year-old company, headquartered in Shenzhen, China, entered India in December 2014, offering a portfolio of seven smartphone models in the price range of Rs 8,000 to Rs 30,000.

"We shipped 40 million units of smartphones out of China last year, to countries including Malaysia, Thailand, Indonesia and Singapore. We target to sell an equal number of phones in India alone in the next five to 10 years, this is our long-term plan," Chen said.

Source: business-standard

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Gurgaon has great potential for all business people especially manufacturers. Gurgaon is the home of large number of manufacturing companies. Gurgaon manufacturers have well developed infrastructure. Gurgaon is the city which gives third highest per capita income to India. The main reason behind its growth is industrial development especially manufacturing industry. Gurgaon manufacturers have the advantage of comfort zone of doing business there. The major manufacturing industries in Gurgaon are automobile, pharmaceuticals and textile.

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