Forward in time

Calcutta, March 17: Vedic Realty Ltd is planning to go national with its Vedic Village brand by developing IT townships, commercial and residential properties.

The Calcutta-based real estate company is leading a consortium of developers for a Rs 25,000-crore integrated IT township at Rajarhat and is also in the process of developing a health spa with 200 farmhouses at Neemrana on the New Delhi-Jaipur highway.

According to Raj Modi, managing director, Vedic Realty Ltd, “We are currently scouting for locations across the country to develop properties under the Vedic Village brand name. However, we have decided to extend the scope of our development to include IT townships and other forms of commercial and residential properties.

“They will all have the essence of the Vedic Village brand, of being ecologically conscious,” he said.

The Neemrana property is being developed on a 200-acre plot and will be a more luxurious version of the Vedic Village resort near Calcutta.

“We have tied up with Diamond Group and the property will be named Vedic Village Diamond. The investment will be around Rs 250 crore. The property will have 400 rooms, ranging from studios to luxury villas, along with 200 farmhouses,” Modi said.

The Vedic Village resort, which started with 18 rooms, three years ago, now has 200 rooms of varying categories spread across 150 acres.

The IT township at Rajarhat will be spread across 1,200 acres and will be complete in the next five to seven years.

The township’s social infrastructure will include malls, hotels and a golf course.

“We are also looking for strategic partners in various cities for our projects. The locations include Bangalore, Chennai, Pune, Nagpur and Hyderabad,” Modi said.

The buildings inside the township will follow the green-building principle.

Green buildings use environmentally sound practices in construction. The Confederation of Indian Industry has set up standards for green buildings in India through the Indian Green Building Council.

In Bengal, Vedic Realty is forming a 50:50 joint venture company with the government-facilitated agency, Webel. It will be open to such tie-ups in other states as well.