The Ahmedabad Urban Development Authority (AUDA) has signed a pact with the Galaxy Group of Companies for the GandhinagarAhmedabadVododara Corridor Project. An MoU to this effect was signed during the recent Vibrant Gujarat Global Investors Summit
The project,under which 30 schemes will come up on the Sardar Patel Ring Road,connecting Gandhinagar,Ahmedabad and Vadodara,will cost around Rs 1,100 crore.
Uday Bhatt,chairman,Galaxy Group,said: This is a huge project and will be completed in a phased manner. The work on some of the projects in the corridor has already begun (on the AhmedabadVadodara stretch).
The project is expected to change the landscape of Naroda and some other parts of east Ahmedabad. Naroda,Rakhiyal,Bapunagar,Saraspur and other neighbouring areas of the east Ahmedabad have been neglected both by private developers and the government-run urban bodies.
Projects like residential housing,commercial spaces,malls,multiplexes,schools,hospitals,hotels and NRI colonies and low-cost housing will get an impetus in this project.
Bhatt claimed that the residential housing costing Rs 15 lakh to Rs 40 lakh targets the average middle-income group.
The commercial spaces and hotels of 132 rooms will be constructed.
Hospitals with 100 beds are expected to be built in the corridor.
We will be building both residential and commercial townships in this area. The NRI colonies Galaxy Intercity will have apartments costing Rs 13 lakh and Rs 16 lakh and bungalows costing Rs 35 lakh, he said.
The group is also planning to build low-cost housing for the MIG and LIG segments at Kathwada village in Ahmedabad. The group will construct 1,000 houses in the first phase which will cost nearly Rs 4.5 lakh.
Enmarton,a German architect company,has been roped in for designing. The project is being developed on the ring road connecting these three cities. With the completion of this project,the road will definitely witness growth, said Praful Joshi,chief executive officer,Galaxy Group.
The construction of NRI colony,residential housing,commercial spaces and shopping malls has also begun in different phases. The project is expected to be completed in two years,said a source in the Galaxy Group.