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http://economictimes.indiatimes.com/articleshow/1161617.cms

The oldest composite textile mill in the country - the Empress Mills founded by Sir Jamsetji Tata in the heart of Nagpur has been sold by the Maharashtra State Textile Corporation (MSTC) to the Tayal family-promoted KSL & Industries.

The 35-acre mill complex, on the embankment of Gandhi Sagar Lake, to be rechristened ‘Empress City' will now host an IT Park, a five-star hotel, a 3 lakh sq ft mall and a series of upmarket residential towers.

The KSL Group bagged the closed mill for Rs 35 crore at a competitive auction with 10 bidders that included two Nagpur-based builders and a few Mumbai developers, including Kalpataru Overseas. However, the mill comes with 10,500 workers and their severance package has cost the Tayals an additional Rs 55 crore.

“Stamp duty and other interest costs has made the Empress Mills a Rs 100-crore property, but we were lucky to ‘book’ it before the real estate began shooting up,” PK Tayal told ET. “Today, it is worth over Rs 500 crore,” he claimed.
 

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heres another story of Empress story in todays papers...........

KSL developing integrated township in Nagpur

KSL and Industries Ltd has ventured into the realty business and is developing an integrated township project - Empress City. The project will be spread over 25 acres in Nagpur.

The facility is likely to comprise a 3.5-lakh sq feet information technology park, a 300-room five star hotel, a shopping mall, multiplexes and 800 luxury residential apartments. There will also be facilities such as swimming pools, health clubs, jogging parks, playgrounds, indoor games complex, community halls, temple, emergency post, telecommunication facilities and video phones.
 

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Some news from last month

KSL Industries to build Empress City in Nagpur

PM News Bureau

KSL Industries Ltd, the flagship company of Saurabh Tayal Enterprises, has forayed into realty business through its subsidiary, Reward Mercantile. The company has acquired the erstwhile Empress Mills in Nagpur and is developing 3.5 million sq. ft of space, called 'Empress City' project, at an investment of Rs 800 crore. The project is due for completion in the next three-four years.
Empress City will comprise an information technology park, a five-star hotel, shopping mall, multiplexes and residences. In addition, there will be facilities like clubhouse, swimming pools, a health club, jogging park, playgrounds, community halls, a temple and emergency post. On completion, the company will sell residential apartments and the IT park worth of Rs 1,000 crore, and the rest will be given out on lease so as to generate Rs 300 crore annually.

Contact: Krishna Group of Companies, Raghuvanshi Mill Compound, Senapati Bapat Marg, Mumbai 400013. Tel: 022-24955321 to 29; Fax: 022-24924295 & 24981371

[18 July 2005]
 

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It seems that Empress City is a done deal now.

KSL to invest Rs 400 cr in hotels foray

Textile major KSL and Industries said that it was in talks with four or five major hotel groups to run the 400-room five-star hotel which will form part of the Empress City, the upcoming integrated township project which KSL is developing over a 25-acre land in the heart of the city.

The promoters have already spent Rs 100 crore in purchasing and developing the property, said S P Tayal, the chairman of KSL and Industries. He added that by December 2007, the project would be completed and by then, the company would have invested over Rs 400 crore.

Empress City will have an IT Park, a five-star hotel, the city’s largest shopping mall, multiplexes and around 600 luxury residential apartments.

The foundation work of the proposed 10-storey IT Park, shopping mall and residential apartments have already begun. Bookings for the apartments will begin in January, while the IT Park and shopping malls are being marketed by an independent sales agency.

There will be facilities like a club house, swimming pools, health club, jogging park, playgrounds, indoor games complex, community halls, etc in the complex. A round-the-clock power backup service is also being arranged.

Around 10-15 towers, 10-storeyed each, will be constructed as residential apartments. All the buildings in the project, which include apartments will be fully air-conditioned. In an area of 1 lakh sq ft, basement-parking and landscaping will be done. The promoters have roped in the best names in the construction industry for the project.

The township has been designed by noted architect Hafeez Contractor.

The structural consultants of the project are Y S Sane & Associates, while the contractors for the same are Shapoorji Pallonji & Company. Singapore-based Site Concepts, will be the landscaping consultants, while Trammel Crow Meghraj will be the property management consultants.
 

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A bit disappointing we are only looking at a skyline of only 10-15 stories. But maybe this 400 room hotel may be the one serious high-rise (bearing in mind the 35 story new Four Seasons in Mumbai is gonna have 180-190 rooms)???

The unofficial rendering of Empress City looks cool, check out the KSL web site:

I saw another unofficial rendering of Empress City on a magazine which looked very similar, but not exact to that image. So expect something very similar to come up!!! :)


http://www.kslindustries.com/

http://www.kslindustries.com/real.htm
 

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collateral said:
A bit disappointing we are only looking at a skyline of only 10-15 stories. But maybe this 400 room hotel may be the one serious high-rise (bearing in mind the 35 story new Four Seasons in Mumbai is gonna have 180-190 rooms)???

The unofficial rendering of Empress City looks cool, check out the KSL web site:

http://www.kslindustries.com/real.htm
If you are talking about this link, then I am not sure if that is even the unofficial rendering of the project. All the pictures on the page are probably picked up from western lifestyle websites. All the pictures feature caucasians and a very American theme.
 

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kronik said:
If you are talking about this link, then I am not sure if that is even the unofficial rendering of the project. All the pictures on the page are probably picked up from western lifestyle websites. All the pictures feature caucasians and a very American theme.
Im not taking about that link, im referring to the link above. Its on the site's homepage where you can see the 'unofficial rendering'. I myself would normally think such a rendering is too good to become reality in India. But the fact i have seen a very similar render on a magazine, the fact Hafeez is in charge of designing it and the fact this project will be based in the CBD of Nagpur (if there is such a place), than i promise this wont be another horrible suburban looking township such as those outside Delhi, but will have variation in design between buildings, with no caucasians in sight, except those on holiday!
 

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Bombay Boy said:
thats not a rendering. thats an image of an existing city
Why are you so sceptical?

What city is this then?....hmmm

I never claimed it was an official rendering, just an insight as to what we should expect. I would probably agree with you had i not seen a very similar design on an article in early August.

In order for KSL to make the most out of this land they have to go vertical as 25-acres is not a huge space. They've got a big name team on this with a good track record for delivering serious projects!!!

Be positive.
 

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Thats probably true. We are expecting a bunch of highrises. Though I'd expect them to be very much more in the Indian style, as HC's the architect.

A world of caution though.. Indian construction/developer websites are notorious at misrepresenting the project through stock photo images and the like.
 

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Discussion Starter #13
From all the reports it seems this project will have

1) 10-15 apartment buildings of 10 storeys each. Total 600 apartments
2) A 1400 room five star hotel [ I think the 1400 is a typo - it maybe 140 only]
3) Shopping Mall and Multiplex
4) IT Park - 10 storey building

So basically we will see about 10-15, 10 storey buildings over a 25 acre plot of land.
 

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collateral said:
Why are you so sceptical?

What city is this then?....hmmm

I never claimed it was an official rendering, just an insight as to what we should expect. I would probably agree with you had i not seen a very similar design on an article in early August.

In order for KSL to make the most out of this land they have to go vertical as 25-acres is not a huge space. They've got a big name team on this with a good track record for delivering serious projects!!!

Be positive.
No, collateral, and i think I speak for Bombay Boy too, my point is not to belittle the project. All i am saying is that there is no rendering of the project out there. These pictures are but eye candy for the site visitors.

Arrey personally I want this project to be as grand and big as possible so that Nagpur grows into another commercial center of the country and the state.
 

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kronik said:
No, collateral, and i think I speak for Bombay Boy too, my point is not to belittle the project. All i am saying is that there is no rendering of the project out there. These pictures are but eye candy for the site visitors.

Arrey personally I want this project to be as grand and big as possible so that Nagpur grows into another commercial center of the country and the state.
Yes, Kronik and Bombay boy are right...Those are just stock pics used by the agencies who do the brouchre/websites etc..

Regarding the Five Star hotel, Sun is right, 1400 would be a typo, 140 may be the number of rooms..

Anyway looking for things to happen in Nagpur also....India on a Fast Forward mode... :)
 

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Well this thread is about opinions and i understand where you guys are coming from. Its due to be completed in Dec 2007, so hopefully construction will start soon and we will be able to get a better picture in the near future.

With regards to 1400 rooms being a typo, that is true, but most reports seem to be indicating a 400 room hotel. Also do expect one high rise ultra modern IT tower.
 

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Discussion Starter #18
Nagpur's case...

Orange booms: Big dreams come true in small town
http://dnaindia.com/report.asp?NewsID=1000624&CatID=2

NAGPUR: It’s no more the poor country cousin of Mumbai it was a few years ago. For all outward purposes, Nagpur is a transformed town: a wannabe metropolis with plush showrooms, a couple of multiplexes, a sizeable noveau riche, an informed younger generation, hi-tech hospitals, smooth roads, flyovers and thick green cover.

Says Sanjay Arora of Shells Advertising, "The lifestyle of Nagpurians has changed dramatically over the last few years. And it is the Big Bazaar and the Pyramid, among others, which are driving these changes."

"The Orange City is in take-off mode," remarks an excited Vilas Kale, president of the Vidarbha Economic Development Council (VED). Its central location, good infrastructure and rail, road and air connectivity are among a number of factors drawing people here. "We are witnessing a steady migration of trade and commerce into the city."

Fuelled by the infrastructure boom and riding on ambitious projects like the Multi-Modal International Airport and Cargo Hub (MIHAN), the city is slowly shaping as the growth engine of Vidarbha, with a special economic zone, an IT park and a health hub about to be developed.

Also, if the Union Ministry of Civil Aviation clears a proposal, Nagpur may soon have its airport upgraded to international status.

Gone are the days when an outsider stepping on to the dusty avenues felt bored to spend even a day in the city. "It's a boring city," was the Mumbaikar's refrain. Now, driving down from the airport to downtown Nagpur, people from outside are enticed by the smooth roads, huge hoardings and clean surroundings.

Not for nothing is the city rated among the ten fastest growing centers of the country. "What's more, it's included in the 60 cities under the Central Government's National Urban Renewal Mission," says Lokesh Chandra, Nagpur's municipal commissioner.

Chandra says, if everything goes well, "we may soon boast of a world-class mass rapid transport system (MRTS) in private partnership." The civic body has also decided to develop its properties in partnership with private investors, he says.

"Unlike Pune or Bangalore - cities where infrastructure has practically collapsed despite good investments - Nagpur has basic amenities in place as it awaits the big boom," Kale says. That's one reason why real estate prices have shot up manifold in the past five years, say builders.

Industrialists say with VAT becoming a national feature, Nagpur is bound to become a warehouse (logistic hub) of industries; factories could be located anywhere, but their distribution could be handled from here.

Also improving the city's standing is the Indian Air Force's IL-76 base, which shifted to Nagpur from Agra in 2002, bringing with it their giant machines.

Tourism experts feel, the city, being the gateway to central India's tourist places, is slowly attracting new tourists. Now that we have a couple of international flights, there is scope for the hotel and tourism industry to grow in this virgin territory, they say.
 

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Discussion Starter #19
Satyam to get 100 acres in Nagpur SEZ
Becomes the first global IT firm to enter Nagpur
http://www.business-standard.com/iceworld/storypage.php?chklogin=&autono=207658&leftnm=lmnu9&leftindx=9&lselect=1

Satyam Computer Services Limited has announced its intent to expand its operations to central India. The company will be allotted a 100-acre plot in the special economic zone (SEZ) in Nagpur, and has signed an MoU with the Maharashtra Airport Development Company Limited (MADC) to this effect.
With this, Satyam has become the first global IT company to announce its plans to enter Nagpur, a media statement said.
 
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