Dholera SIR attracting Rs 2,000-3,000 cr investment annually in land and plots, says developer

Mumbai, Sep 7 (PTI) Dholera Special Investment Region (SIR) in Gujarat is attracting fresh investment of Rs 2,000-3,000 crore annually in realty assets, with investors primarily from North acquiring land and plots, according to a realty developer.

These investments reflect the increasing confidence in the project, the developer said.

The Dholera SIR project is being jointly developed by the central and Gujarat governments about 100 km from Ahmedabad, through a special purpose vehicle, DICDL ( Dholera Industrial City Development Ltd).

Formed in 2016, DICDL is owned 51 per cent by the Gujarat government and 49 per cent by the central government.

The majority of investments are flowing into land and plots, primarily from investors in Punjab, Haryana, Delhi, Gurugram, and Noida, Ahmedabad-based developer Aaiji Group said in a statement.

“Annually, we are seeing fresh investments to the tune of Rs 2,000 – 3,000 crore in land and plots mostly from Punjab, Haryana, Delhi, Gurugram and Noida,” Aaiji Group founder Lalit Parihar said.

According to him, investors can get a good return on their early-stage investment in Dholera SIR, a project under Delhi-Mumbai Industrial corridor, in a few years.

Around 95 per cent of the first phase infrastructure for the project has already been completed by the Gujarat government, the group said, adding the Dholera Smart City offers attractive investment opportunities for potential investors.

In June this year, Tata Electronics signed an initial pact with California-headquartered semiconductor design and engineering firm Synopsys, to collaborate on various technological verticals.

This includes, Synopsys’ offerings being used in Tata Electronics’ upcoming USD 10.9-billion semiconductor fabrication plant, in Dholera.

Aaiji Group also said it has completed two projects in Dholera SIR – Aaiji Airport Villa and Aaiji Residency – while two more realty projects are under development.