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All these alluring and beneficial openings have invites big names of the corporate arena like Tata Motors, HCL, Lenovo, Bajaj Auto, amongst others, to set up plants in this area.

The rush in real estate properties and developments in Rudrapur is primarily the result of tax and economic incentives announced by the central and state governments to promote industrial growth. Rudrapur has been declared as a non-tariff area for central excise, customs and sales tax duties for a period of ten years which span may also be extended by the central government. This has prompted industry players to set up big plants and the subsequent settling down of numerous corporates. Companies that begin production before a cut-off date get a 10 year excise duty exemption, five year full income tax break and reduced production levels for the next five years. The area, as a result, is witnessing hectic activity on the industrial front with a host of companies, from the automobile, Pharma and FMCG sectors, setting up facilities here. Infrastructure has been a big draw at Rudrapur: Explains Arvinder Singh, MD, Alliance Nirmaan Limited, "Unlike most of the cities in India, infrastructure is not a bother here. There is no dearth of electricity and water. Moreover, electricity rates are the lowest in the country and you can get water by digging not even 5 feet." Connectivity too is good as the town is situated on the Delhi-Nainital highway (NH-74) and the Khatema-Panipat highway (NH-87). Four laning and widening of roads from Delhi to Rampur, Rampur to Rudrapur and Bareilly to Moradabad is on. The Rampur to Kathgodam rail route is proposed to be double lined. Rudrapur is conveniently connected by air with the Pantnagar airport in the vicinity. The airport is being renovated to enable Boeings and ATRs to land and also to have night landing facility. The government is also working further on improving the infrastructure and connectivity especially around the industrial belts.

In such a scenario, it is only natural that industrial development is complemented by large scale infrastructure and real estate development. And in this field, the foremost player in Rudrapur is undoubtedly Alliance Nirmaan, which has shaped the face of modern day Rudrapur through highly successful townships like Alliance Kingston Estate, City One and Cedar Highs.

In fact the concept of integrated township in Rudrapur began around two years ago with the launch of Kingston Estate by Alliance Nirmaan. This fully integrated, colonial style township, on Kashipur Road sprawls over an 80-acre landscaped plot and has premium homes along with a shopping mal, landscaped green belt, club and community center and host of other amenities. At present, construction activities are in full swing and the township is in advanced stage of completion.

Alliance Nirmaan's latest project, Alliance City One, another integrated township spread over an area of 140 acres. The township has villas, bungalows, apartments and penthouses as well as free-hold plots. The amenities include retail, education and recreational facilities, uninterrupted power and water supply, well-planned sewerage and drainage system, etc. within City One is a self contained apartment complex called Cedar Highs, which offers 2, 3, 4 bedrooms apartments and penthouses, spread over 30 acres. This complex is well laid out to maximize green open spaces between the carefully placed residential towers.

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Incidentally, property rates in Rudrapur have escalated one-and-a-half times in the last two years. "The market is bound to appreciate during the next one-and-a-half to two years because of economical factors," adds Partho Kunar, VP, Alliance Nirmaan Limited.

The generally held view is the northward march of rates will continue for the next five years or so. The real estate market at Rudrapur can be said to be similar to that of Pune or Hyderabad because development and economic growth began way back and grew steadily over time. And it will continue to grow, albeit perhaps, at a faster rate in future because real estate growth will be sustained by economic growth.

"When compared with SEZs coming up all over the country, the developments in Rudrapur are far more attractive. This is because of the industrial output from Rudrapur is meant for domestic consumption which is 85 percent of the Gross Domestic Production. What it means is much higher potential for the industry and for the state as a whole," feels Singh.

Source: Times Property

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