Naya Raipur, the new capital city of Chhattisgarh, is wooing private builders aggressively even as it vies to be one of the 100 ‘smart cities’ that theNarendra Modi has promised to build across the country.
“Apart from the land parcels already given out to builders, tenders for another 400 acres of land would be floated in the next 3-4 months for real estate developments,” said SS Bajaj, vice chairman at Naya Raipur Development Authority (NRDA). This is expected to bring in over Rs 2,000 crore investments, officials said.
Naya Raipur, 18 km from Raipur, is being developed in three phases and will have a bus rapid transit system(BRTS) corridor for smooth public transport and offer free Wi-Fi connectivity across bus stops, parks, office areas and educational institutions. It’s spread over approximately 20,000 acres and is expected to have 560,000 inhabitants by 2031. The state secretariat shifted to Naya Raipur in November 2012. Bajaj said national institutions such as the AIIMS, IIM, IIT, Shankar Netralaya and Hidayatullah National Law University are coming to this planned city.
Chhattisgarh Housing Board built and sold over 90% of the 5,000 residential units here. At existing rate of Rs 2,950 per sqft, against Raipur’s Rs 4,500-5,000 per sqft, and offering better facilities, Naya Raipur is attracting homebuyers not only from within the state but also from Madhya Pradesh, Orissa and West Bengal.
Noida-based Amrapali Group has acquired 31.5 acres in the city and plans to invest nearly Rs 350 crore on residential, commercial and hospitality projects, its executive director Shiv Priya said.
Raipur-based Avinash Group is investing Rs 150 crore on a 700-unit residential space spread over 18 acres. “Around 15% of the apartments sold have been bought by NRIs who have their roots in Chhattisgarh,” said Anand Singhania, MD, Avinash Group that is also investing Rs 30 crore in commercial project at the proposed CBD of Naya Raipur.
Raipur-based GT Homes is investing nearly Rs 200 crore on a 316-apartment project with 10 towers, its director Gurjeet Singh Rajpal said.