Pantnagar under the phase of exploration
Rudrapur is the hottest destination for huge industrialists who are targeting the suburb area in the hope of growing their business by utilizing the benefits the central government is offering there.
Half a decade back, Rudrapur was just a fragment of Uttrakhand just before Tata decided to establish its manufacturing unit of mini-truck, Ace back in the year 2006, which started operating year after. Tata covered 975 acres land of Pantnagar, which is just 2 km away from Rudrapur, at the rate of Rs 125 per square meter which cost the organization Rs 49 crore.
The finalization of this Tata deal motivated a lot of industrialists to invest in the region which helped the investors to overcome stereotyping the small towns. It resulted in combined investment of up to Rs 7,000 crore by more than 40 companies in Pantnagar only. These industries also include Bajaj, Britannia, Dabur, Honda, Jindal, Mahindra & Mahindra, Nestle, Parle and Voltas.
It was not easy to transfer the ownership of lands from farmers as they feared losing out on the land, but endeavoring efforts of the government clarified the misunderstandings and convinced these farmers to take the final decision in government’s and industrialists’ favor.
Real estate developer in Rudrapur, Arvinder Singh called this land transfer a milestone for the state development. Arvinder Singh is the Chairman and Managing Director of Alliance Nirmaan Limited which is occupied in crafting a luxurious residential project, City One in the region where villas will be catering the needs of lot of people.
The industrial development resulted in construction of apartments, hotels, malls and similar sort of construction projects. Property rates in Pantnagar have reached up to Rs 85 lakh since then.
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