Mantri Realty to invest Rs 100 cr for IT Park in Kolhapur

Kolhapur, Sep 9 (UNI) Pune-based major estate developer Mantri Realty has entered Western Maharashtra with an investment of Rs 100 crore for a commercial complex, including an IT Park, here.

The foundation stone of the project, to be called 'Mantri Info Park', was today laid by Maharashtra state assembly Speaker Babasaheb Kupekar in the presence of State Non-conventional Energy Minister Vinay Kore at a function here.

The company has taken the land on lease of 99 years from the Maharashtra Industrial Development Corporation (MIDC).

Speaking on the occasion, Mr Kupekar said there is a big potential for development in the Kolhapur district. Hence industrialists should come forward with their projects for the development of other related sectors.

Mantri Realty director Sarita Mantri said the company has also taken on lease the IT Parks at Sangli, Nagpur and Latur from MIDC.

The state government has allotted additional two acres of land, adjacent to the present IT Park at Kolhapur, where an ultra modern IT Park, 'Mantri Info Park', will be constructed within a year at a cost of Rs 20 crore, she informed.

Giving details about the company's future plans, she said the company has planned a township and an ultra-modern mall in the city for which the company will invest an additional Rs 80 crore as Kolhapur is developing rapidly.

The IT Park in Kolhapur, spread over the area of 25,000 sq ft, was constructed in 2001 by the MIDC at the cost of Rs 1.25 crore.

However after seven years, the MIDC could sell only three units out of total 25. Hence, it took a decision to hand over the IT Park to a private company on a lease of 99 years.

UNI