Satra Properties' dream projects
A Business Correspondent
Satra Properties India Ltd has signed a deed of assignment for a prime retail property in Jodhpur, Rajasthan. The company, which develops commercial, retail,
hotel and residential properties, intends to build a state-of-the-art shopping
mall and entertainment complex on the 1.21 lakh sq. ft land.
Dreams the mall, as it is called, will boast a 200 sq. ft frontage on Nayi Sarak
Road, the main shopping street in Jodhpur, and will have an anchor store, food
courts, restaurants, a four-screen multiplex, and an 80-car basement parking
area. The project is expected to generate revenue of Rs 133.78 crore.
Construction work is under way and is expected to complete within 18 to 20
months i.e. June 2009.
The company operates directly or through a subsidiary company or through
project-specific companies formed to execute the projects. It also undertakes
development projects through joint development agreements with third parties.
The company is also involved in the purchase and sale of TDRs (transfer of
development rights) which are freely transferable between developers. The
company plans to raise over Rs 700 crore for project development in 2008.
Contact: Satra Properties India Ltd (Satra Group), Dev Plaza, S.V. Road,
Near Shopper's Stop, Andheri (W), Mumbai, Maharashtra 400058. Tel: 022-26719999;
Fax: 022-26203999; E-mail: info@ satraproperties. com
[March 31- April 6, 2008]