Gurgaon based real estate developer Vipul Group is coming up with a 400-crore worth mega housing project in Ferozepur, Ludhiana spread across 109 acres.
Vipul World, as it is named, will be an integrated township developed in association with Solitaire Capital, India, which is a real estate venture funding company. The collaboration was granted land use approval by the Punjab government on October 1st.
The company also plans to build a residential township cum four star hotel at Mohali (estimated investment of 700-800 crore) and Amritsar (estimated investment of Rs. 500 crore) which would be funded through internal equity, debt and FDI (Wachovia Corporation, one of the diversified financial institutions of USA).
This is Vipul Group’s first initiative in Punjab. The township would comprise plots, villas, premium apartments, high-end commercial complex, fully equipped shopping arcade, club house and a five star hotel. The whole area is also to have 24 hours power back-up and WiFi connectivity.