Now, it is set to add more to its real estate kitty.
Even as the Haryana government is in the final stage of formulating a policy for ‘farmhouse colonies’, Ramprastha Group, a Gurgaon-based developer, plans to start a farmhouse township here.
According to the state government’s draft policy, a farmhouse colony would be a cluster of 20-30 farmhouses, each with an area of 1-2.5 acres, spread over at least 100 acres.
“A separate policy for farmhouse colonies (low-density eco cities) through grant of licence is under consideration. . . instead of sporadic development of farmhouses, planned development of a colony with a focus on eco-friendly design principles would be a better option,” says the draft policy.
The colony would have the required infrastructure -- water, electricity and security, besides proper roads -- all within its boundaries.
Such farmhouse colonies will be developed as gated communities with six-feet-high boundary walls around it.
However, the individual plots will be demarcated by barbed-wire fencing and hedges, and no boundary walls will be allowed.
Besides, no commercial exploitation of these sites, such as through use as banquet/party halls, will be allowed, the draft adds.
At present, most farmhouses in the state are located in and around Gurgaon. Other farmhouse areas include Faridabad, Rohtak, Hisar and Ambala.
Nikhil Jain, CEO of Ramprastha Group, which mainly has residential projects in the National Capital Region, says his company will invest Rs 700-800 crore (Rs 7-8 billion)
Vadra gets clean chit in Haryana land deals
Akshaya Tritiya leaves real estate firms idling by
This Jaipur boy emerged a topper despite renal failure
The four BIG stock BETS of Rakesh Jhunjhunwala
Earthquake rattles north India, kills 2 in Jammu