Tag Archives: Cable Corporation of India

Realty Market Attracting Manufacturing Companies

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People seldom notice old clothes if you wear a big smile - Lee Mildon
The shining real estate market in India has now attracted even small as well as medium scale manufacturing companies. In fact, around 6 to7 companies have even announced real estate projects either with partners or monetized their prime land assets.

Some of such companies are:

Textile company Arvind announced a residential complex across an area of 10,00,000 sq ft in Ahmedabad, in partnership with B Safal Group.

Cable Corporation of India (CCI) plans a project in the western India. The project is located in Borivali area of Mumbai and will be a project worth Rs. 1000 cr.

Usha Martin, the steel wire maker recently launched a residential project in Boisar, on the outskirts of Mumbai, and also plans to come up with more such projects in Bangalore and Pune.

Golden Tobacco and Hindustan Composite are next on the list who have not exactly launched projects but have sold their lands to Wadhwa group and Sheth Developer respectively for real estate projects.

Similarly, Reliance Group, Bombay Dyeing and Century Textiles etc are entering into this market.

Thus, conclusion can be drawn that the manufacturing companies are now hitting the realty market.

Rivali Park in Mumbai by CCP

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On Wednesday, the Cable Corporation of India made announcement that it has planned to enter into the real estate and will spend an amount of Rs. 1000 cr. in its first project. CCI Projects Private Ltd (CCP) is an associate company of CCI in which CCI holds 15% stake. CCI will be developing the project through CCP.

The project is entitled as Rivali Park. It is a project spread over an area of 22 acres located at Borivali, Mumbai. The project can be considered as a mixed-use development with various commercial, retail, entertainment, hospitality, and cultural elements.

The project will be completed in phases and would take around five to seven years to complete. The first phase is expected to complete within next 24 to 30 months and is part of the residential development.