Page 104 - CO JAN 2020

TICKER TAPE
INFRASTRUCTURE Metro route to Hyderabad airport to have underground stretch about Wafe Infratech was founded by late Ponty Chadha, who was killed
METRO ROUTE TO HYDERABAD AIRPORT
by his brother in 2012 in a shootout at the family’s farmhouse near
Delhi. The group has interests in real estate, liquor and retail.
3 km However,
the entire metro
GMR INFRA, RELIANCE, AMONG 19 COS
route proposed
BIDDING FOR NOIDA AIRPORT
from Mindspace
GMR Infra, Adani Group, and Reliance Infra are among the 19
to airport will be
companies in the technical bidding process for developing the
The
elevated.
metro works on
Jewar in Greater Noida. The Yogi Adityanath government is targeting
the airport route
complete
to
will start in a few ~16,000-crore Noida International Greenfield Airport project at
months after it gets technical bidding
permissions and by November
clearances from the government. It is learned that the 'Airport 6; this will be
Express Metro Corridor' will be built about 31 km towards IT corridor followed by the
before passing through Nanakramguda, Narsingi, TS police financial bidding
academy and Shamshabad to reach the airport station. process. It aims to
complete the entire
The estimated cost of the project is `5,000 crore and is waiting for bidding process
the permission from government to call for financial and technical by Februar y-
bids. However, it is yet to be known if it is run by government or March 2020. The
constructed under the public, private, partnership (PPP) mode. government is aiming for the commercial opening of the first
runway by 2023.
WAVE OF HAND OVER AT NOIDA’S CITY CENTER
Wave Infratech has stared handing over constructed units at its Earlier, the state Cabinet approved the amended bidding
Wave City Center project in Noida’s Sector 32, very close to the Delhi document aimed at providing more amenities to passengers
border, the company said in a press release. It’s a mega residential- availing of the services of the proposed airport. This airport will
and-commercial project developing in the heart of the city. The first likely decongest Indira Gandhi International Airport in New Delhi.
units to be delivered are high street shop condominiums. PricewaterhouseCoopers (PwC) is the project consultant. The
Cabinet okayed the amended bidding and draft concessionaire
The company expects to start delivering premium residences, documents by putting its seal to the proposal of the state project
branded AMORE, soon.
monitoring and implementation group. Besides, the Cabinet
With occupancy certificate received for over 4,00,000 square feet, authorised the chief minister to take further decisions on the airport
Wave City Center will cater to high street retail. The property has project. In May 2019, the Cabinet had approved the proposal
dedicated pedestrian friendly pathways, underground parking, to float global tender for the project, apart from the disbursal of
open landscaped areas and sidewalk cafes. ~895 crore towards rehabilitation and resettlement of the affected
private landowners.
The developer claims that the project has around 90% space
efficiency, to give customers clutter-free shopping experience and `6,448 CR CHENNAI-KANYAKUMARI INDUSTRIAL CORRIDOR
retailers more covered (usable) area. Unit owners will have to pay The project is funded by the Asian Development Bank and the
common area maintenance charges of around Đ10 per sq. ft., Tamil Nadu government. Feasibility study and project preparation
lower than the usual and thus reducing the burden on the retailer.
for the Chennai-Kanyakumari Industrial Corridor (CKIC) project are
Wave Infratech has stared handing over constructed units at its already been completed. A deadline for the commencement
Wave City Center project in Noida’s Sector 32, very close to the Delhi of the project and work will begin shortly. The state government
border, the company said in a press release. It’s a mega residential- has already identified hubs in places like Kanyakumari, Theni and
and-commercial project developing in the heart of the city. The first Tuticorin to set up heavy industries, IT parks, small scale industries,
units to be delivered are high street shop condominiums. tourist attractions and educational institutions and develop these
hubs across the industrial corridor.
The company expects to start delivering premium residences,
branded AMORE, soon. With occupancy certificate received for The `6,448 crore CKIC project is funded by the Asian Development
over 4,00,000 square feet, Wave City Center will cater to high street Bank (ADB) and the state government in 70-30 ratio. According to
retail. The property has dedicated pedestrian friendly pathways, a Comprehensive Development Plan prepared by ADB, the project
underground parking, open landscaped areas and sidewalk cafes. will generate more than 4.7 million additional jobs driven by annual
manufacturing output of $222 billion and the 23 districts it covers
The developer claims that the project has around 90% space 64 per cent of State’s area and 70 per cent of total population.
efficiency, to give customers clutter-free shopping experience and
retailers more covered (usable) area. Unit owners will have to pay The project has six nodes and the phase I will have Madurai-
common area maintenance charges of around 10 per sq. ft., lower Virudhunagar-Dindigul-Theni and Thoothukudi-Tirunelveli nodes with
than the usual and thus reducing the burden on the retailer. an investment of around `91,000 crore.

104 CONSTRUCTION OPPORTUNITIES|JANUARY 2020