Pune’s factories are already going the Mumbai mill-land way.
Driven by an 8 to 10 fold increase in land prices in the last 2/3 years, companies like Raccold Appliances, Greaves Cotton, Elpro International, Garware Nylon and Formica India are converting their factory premises into commercial or residential projects. Then why not you?
Most units in Pimpri Chinchwad industrial cluster stand on plots leased from the Maharashtra Industrial Development Corporation(MIDC), which develops industrial clusters in the state. One company could sell to another company as long as it is used for industrial activity.
But if a company wants to use the same land for some other purpose, it needs to get an approval from the state industry minister.
There are very few, older units like Bajaj Auto or Finolex Industries who have their land as freehold and can sell or develop their land.
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real estate Pune real estate Pimpri Chinchwad Municipal Corporation (PCMC) Indian real estate Bajaj Auto Mumbai Mumbai mill land land prices in Pune Pune automobile hub and a center of the IT industry Maharashtra Industrial Development Corporation(MIDC) freehold land in Pune freehold land for sell closed factory land for commercial or residential projects
Tuesday, September 18, 2007
Bajaj Auto, go ahead and develop your freehold165-acre Akurdi complex!
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