Land and land is on the minds of some developers as they seek to build megaprojects in the state’s greenbelt, which stretches from Rajpur in the north to Bhimnagar in the south.
In a bid to attract foreign investors, some are trying to build the mega-mansion that would span more than 3,000 hectares (6,000 acres) and would be more than double the size of the Kolkata Metro station, which has a capacity of 1,500 people.
The land acquisition and building of mega-buildings in the greenbelt is a big step in a national drive for mega-development and a major boost to the state economy, which was hit hard by the floods in 2013.
In the last two years, Jharpur-based Kala Group, which owns the Bhimno-Mangalore metro station, has signed a contract to construct a two-acre mega-condominium project at Bhimna-Bhumshali.
In January, Kala bought land for a 4,500-sq-metre (28-sq ft) project in the same area.
The project, dubbed ‘Bhubaneswar Metro’, will have a capacity for 1,700 people.
Kala is trying to attract investors from around the world by constructing a multi-storey mega-tower at Kala-Mandalangam, located in Jamshedpur district, about 80 km from the centre of Jhalkhand.
The mega-project is being planned in a residential area on the outskirts of the city, close to the railway line and the highway.
“It will be a huge project, with a total area of 4,700-sq meters (30-sqft),” said a person, requesting anonymity.
The developer is also building a 2,000-sq.-metre development in Kala’s own land, which is about 15 km from Jamshingpur.
“We are trying for a new development area of about 3,600 sq meters (50-sq.
ft) with a maximum capacity of about 1,000 people,” he said.
Kapil Sharma, president of the Kapil-Malda Development Society, which runs the Bhumshali-Manchurian Nagar (BMN) project, said he expects foreign investors to start coming to Jhakarbhai to do business soon.
“At least 50 foreign companies are already coming in to do a lot of business,” he added.
The development of mega development projects in the Jhankari-Kapal corridor is a huge boost to Jharat’s economy, especially after the floods of 2013.
According to the Jharata Institute, an industry body, the JHankari sector has generated nearly $3 billion in revenue for the state over the past five years, which included nearly Rs 7,000 crore in investment and almost Rs 2,400 crore in construction.
The government has been promoting the benefits of mega projects in a bid for development.
“For the last 10 years, we have been talking about the ‘green belt’ project.
The government has now decided to implement the green belt,” said an official.
Jhankarbhari, which lies about 300 km (185 miles) north of Mumbai, is considered to be the biggest producer of solar energy in the country.