News: Hemisphere Properties may invite EOI to develop farmhouses in Chhatarpur-01-06-2022
TOI has learnt that the proposal to invite expression of interest was taken at a recently held meeting of the Hemisphere Properties India Limited.
NEW DELHI: Those who desire to own a farmhouse in Delhi may soon get a chance to buy them in South Delhi. HPIL, a PSU real estate company under the housing and urban affairs ministry will invite expression s of interest for developing farmhouses on 58 acres of land in Chhatarpur in the next few days, sources said.
TOI has learnt that the proposal to invite expression of interest was taken at a recently held meeting of the Hemisphere Properties India Limited (HPIL). Sources said the main intention behind this is to assess the interest of potential buyers. The land parcel is barely one kilometre from the Chhattarpur Metro station in the national capital.
Sources said there is no legal dispute in the land parcel and it’s protected by a boundary. Hence the project can start soon, they added. HPIL will give wide publicity to the proposal so that it can get maximum feedback. That will help it to plan future development on this land, sources said.
TOI has also learnt that the plot size for each farmhouse would be around 1-1.25 acres and the per acre cost would be nearly Rs 25-30 crore. The due diligence report prepared by the state-owned National Buildings Construction Corporation had recommended monetisation of this land parcel by selling plots for farmhouses. “We can prepare a development plan only after we know whether people will be keen on this project. We will need to create common infrastructure to meet the requirement,” said a source.
Chhattarpur and its adjoining areas have a high concentration of farmhouses.
