Omaxe Ltd., one of the leading real estate players of the country, will develop a Hi-tech township spread over approx. 2700 acres in the heart of Uttar Pradesh in Lucknow. Garv Buildtech Private Ltd, a subsidiary of Omaxe, has entered into a Memorandum of Understanding to develop the said Hi-tech township in Lucknow Development Authority.
The Hi-Tech Township which is expected to yield estimated revenue of over Rs 2800 crores will be executed over a period of 5-7years and is slated to cater to the growing demand of quality living space in the city. The township is strategically located on the proposed Lucknow Ring Road in close proximity to Lucknow Airport and only half an hour drive from Hazratganj, center of Lucknow city.
Speaking on the announcement, Mr. Rohtas Goel, CMD, Omaxe Ltd said, “The hitech township is an attempt to recreate an entirely new living experience in the city of Nawabs. There is already substantial pressure on the existing infrastructure and this township will attempt to ease the demand by providing state of the art facilities in close quarters. This hi-tech township will indeed reinforce the commitment to develop and deliver a world class product to the new aspiring class of local residents and the migrants from other cities.”
With the growing popularity of the Lucknow as ideal destination for commercial activity and employment opportunities, the Hi tech township is being developed in a flexible mode so that future growth and change can be accommodated easily.
The township in Lucknow will be unique in itself in offering state of the art facilities to meet the growing aspirations of the customers. With a CBD within itself, the township will create effective employment opportunities in specially designed finance, trade and commerce development zones. A commercial hub, the township is also proposed to have software technology parks, hi-tech industrial parks and scientific & engineering instrumentation zones.
High on features, this Hi-Tech township will provide residential options comprising of plotted and built up development with various options including affordable housing to suit everyone’s style and budget and meet the social commitments to the society.
The township is proposed to be designed in such a way that it offers better quality of life for its residents and other users. It will act as an education hub offering a host of options in technical, medical and higher education. A super speciality medical zone is also proposed to be created to provide adequate and world class healthcare facilities to the residents.
Sufficient provisions are being made to provide entertainment options within the township. A socio culture zone along with recreation centre is being proposed with facilities for social engagements etc. A fully equipped sports complex is also being proposed for the sports enthusiasts which will aim to explore and train amateurs into national sporting stars.
The hitech township will provide viable spatial framework of social and economic development compatible with the distinctive characteristics of Lucknow in terms of its family and cultural values.
Source: Equity Bulls