Ind-Swift's foray into construction business

Chandigarh, May 8 (UNI) The Rs 500 crore pharmaceutical major; Ind-Swift pharmaceutical group with facilities in Punjab, Himachal Pradesh and J&K today entered the construction business by announcing its decision to build luxury apartments and penthouses in Zirakpur in the adjoining district of Patiala in Punjab.

Its first project at Zirapur--Regalia Towers, Apartments and Penthouses is the group's maiden venture into house construction.

The 'bhoomi puja' for this project was performed today by the company's director Himanshu Jain.

The company has floated Ind-Swift Infrastructure and Developers with an equity of Rs 25 crore with a majority share contributed by group companies and promoters, Mr Jain said while talking to reporters after the 'bhoomi pujan'.

The company plans to build luxury housing complexes in Gurgaon, Navi Mumbai in Maharashtra and in the vicnity of Chandigarh, he added while talking of the future plans of the group.

Mr Jain said that the Group plans to pump in Rs 50 crore in construction of residential apartments and penthouses in Zirakpur.

The Dera Bassi-Zirakpur belt in Patiala district, near Chandigarh , is emerging as the fastest developing area with several companies already engaged in house construction activity and now major industrial houses have also made this their avocation,he added.

Mr Jain said ''ours is one of the few housing schemes launched in Zirakpur which is offering penthouses and flats.'' Spread over 3.65 acres of land Regalia Towers will boast of 224 flats of which 28 will be penthouses, 112 three-bedroom flats and 72 two-bedroom flats.

As a social responsibility, the company, he said will also construct 12 flats for the weaker sections of society which will be offered to the public on draw of lots at virtually half of their current market value.

The proposed residential complex will be completely self-sufficient with a club house and a gym, banquet hall, swimming pool and tennis courts, with landscaped lawns and jogging areas, he added.

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