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Articles: Development
Townships on Sale
- Mr. Sree Charan Abburi
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The face of urban India is getting swankier, with world-class, FDI-funded, integrated townships being planned across the country. A number of state governments are competing with each other to woo international firms into township development. Most of the foreign developers are big names from South East Asia. There's Secom Engineers and Keppel from Singapore, IJM Berhad from Malaysia and the Salim Group from Indonesia. Keppel Holdings of Singapore is setting up a township in Bangalore; the Salim Group of Indonesia is planning a housing project in West Bengal; and even the Singapore Housing Board wants a slice of the Indian township pie. The flurry of activity is based on the Union government's decision in 2002 to throw open the development of integrated townships to foreign investors. Between then and now, Asian construction giants - who've created world class township ventures in their own countries-- have brought in at least 10 investment proposals worth more than US $ 1.63 billion in foreign investments.

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