The National Industrial Corridor Development and Implementation Trust (NICDIT) has given approval for developing the Kochi Global Industrial Finance and Trade (GIFT) City in Aluva as an Early Bird Project. Will implement the project under the Kochi Bangalore Industrial Corridor. As a result, companies have started building flats and apartments in aluva.
The GIFT City will come up in 220 ha of land in Aluva, a strategic location in the vicinity of Cochin International Airport. The project will put Kochi on global map as a destination with state-of-the-art infrastructure. The aim was to bring in investment for development of trunk infrastructure to the tune of Rs 1,600 crore. Besides giving a spur to building PPP infrastructure to the tune of Rs 18,000 crore over a period of 10 years. This will create over 1.20 lakh direct and 3.6 lakh indirect employment opportunities for people in Kerala. It will have a great multiplier effect on the state’s economy.
Global City Project
The Global City Project is planned with a financial/business centre as an integral part and growth driver for the city complemented with knowledge-based industries. Also it will provide an integrated ecosystem for development of globally competitive hi-tech services and financial hubs. The land acquisition for the project will complete at February 2021. Similarly, a master planning agency will start work from early September 2020 and complete the master plan by February 2021.
Likewise, few activities like environment clearance, tenders, etc will start in March 2021 and completed by May-June 2021. Master planning activities will be completed in eight months. Construction works will start after selection of agency for construction through a transparent bidding process. The state government has accorded administrative sanction for establishing and developing GIFT City. Hence sanctioned Rs 540 crore for acquisition of land which will be its share in the project.
The Central government through NICDIT will provide an equal amount as its share. Also grant additional funds if required for completing the infrastructure works as a soft loan to the special purpose vehicle (SPV) to be set up for it. Besides, the Centre will help in marketing the project nationally and internationally to potential investors. If required it will mobilise financial resources from the private sector, market, bilateral and multilateral agencies on behalf of SPV for the project.
City Waters – Luxury Residential Apartments
With these major industrial developments, Aluva will undergo a big transformation in terms of real estate. Attracting a huge number of investors from across the world. Undoubtedly, the demand for housing in and around Aluva will increase manifold in the next few years. All these reasons make Aluva the next best real estate investment destination in Kochi. With flats in Aluva available at affordable prices, now is the best time to invest in a brand new home. We Lord Krishna builders will be the ideal choice for your investment. Our City waters Apartments in Aluva is so close to Aluva town and metro station. Invest in Lord Krishna builders grow faster with new technical Era.
