MPIDC to develop residential blocks in industrial areas
Real Estate

MPIDC to develop residential blocks in industrial areas

The Madhya Pradesh Industrial Development Corporation (MPIDC) is considering the development of residential complexes for workers in industrial areas, particularly those emerging on the outskirts of cities. The state's industry department is currently planning the construction of residential blocks in the Vikram Udhyogpuri industrial area in Ujjain and the Mandideep industrial area in Bhopal.

According to MPIDC Managing Director Chandramauli Shukla, residential zones within industrial belts will be developed to house the workforce and meet the needs of industries. This will help create a supportive ecosystem for industries, especially those located far from the main urban centres.

MPIDC is set to begin the tender process for developing residential blocks in the state's industrial belts, initially focusing on select industrial areas with high occupancy. These developments will cater to both the housing needs of the workforce and the space requirements for industries.

Additionally, MPIDC's Indore office has submitted a proposal to develop over 1,000 residential flats in Pithampur's Sector 1 and Sector 6. The project will include units for Economically Weaker Sections (EWS), studio apartments, 2 BHK, and 3 BHK flats, with an estimated construction cost of ?2.11 billion, excluding the cost of land.

Pithampur, home to more than 1,000 industries, is estimated to need approximately 15,000-20,000 houses for workers. Pithampur Audhyogik Sanghatan president Gautam Kothari commented that housing is a basic necessity for any industrial area. He noted that many workers currently commute from Indore and Dewas but would prefer to live in Pithampur if a proper ecosystem and adequate facilities were in place.

The Madhya Pradesh Industrial Development Corporation (MPIDC) is considering the development of residential complexes for workers in industrial areas, particularly those emerging on the outskirts of cities. The state's industry department is currently planning the construction of residential blocks in the Vikram Udhyogpuri industrial area in Ujjain and the Mandideep industrial area in Bhopal. According to MPIDC Managing Director Chandramauli Shukla, residential zones within industrial belts will be developed to house the workforce and meet the needs of industries. This will help create a supportive ecosystem for industries, especially those located far from the main urban centres. MPIDC is set to begin the tender process for developing residential blocks in the state's industrial belts, initially focusing on select industrial areas with high occupancy. These developments will cater to both the housing needs of the workforce and the space requirements for industries. Additionally, MPIDC's Indore office has submitted a proposal to develop over 1,000 residential flats in Pithampur's Sector 1 and Sector 6. The project will include units for Economically Weaker Sections (EWS), studio apartments, 2 BHK, and 3 BHK flats, with an estimated construction cost of ?2.11 billion, excluding the cost of land. Pithampur, home to more than 1,000 industries, is estimated to need approximately 15,000-20,000 houses for workers. Pithampur Audhyogik Sanghatan president Gautam Kothari commented that housing is a basic necessity for any industrial area. He noted that many workers currently commute from Indore and Dewas but would prefer to live in Pithampur if a proper ecosystem and adequate facilities were in place.

Next Story
Real Estate

Indian REITs Offer 6-7.5 per cent Yield, Surpassing Many Global Markets

Indian Real Estate Investment Trusts (REITs) are delivering average yields of 6–7.5 per cent for unitholders, outperforming many mature markets, including the US, according to a report by Credai and Anarock.Credai, the apex body of Indian real estate developers, and property consultant Anarock released the report Indian REITs – A Gateway to Institutional Real Estate at an event in India.Currently, India has five listed REITs – Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, and Knowledge Realty Trust. Nexus Select Trust pr..

Next Story
Infrastructure Energy

Insolation Energy Wins 226 MW Solar Projects Under PM-KUSUM

Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 MW, with an investment of Rs 7.5 billion, under the PM-KUSUM scheme. The orders were awarded to its wholly-owned subsidiary, Insolation Green Energy Pvt Ltd, by Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.“The combined SPV solar power plants will total 226.45 MW under PM-KUSUM Component A, with the final levelised tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, ..

Next Story
Infrastructure Energy

Numaligarh Refinery Awards EPC Contract for Rooftop Solar Projects

State-owned Numaligarh Refinery Ltd. (NRL) has awarded a Letter of Award to Solarium Green Energy Ltd. for the rate contract covering the Engineering, Procurement, and Construction (EPC) of grid-connected rooftop solar PV projects at various locations. The projects fall within the categories of 51–200 kW and 201–1000 kW. Notable projects include a 140 kW rooftop solar plant at NRL Assam, a 760 kW plant at NRL Assam, and a 280 kW plant at NRL West Bengal.The supply order covers ex-manufacturing works and the dispatch price for plant and equipment for the 140 kW, 760 kW, and 280 kW rooftop s..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?