Latest news with #SpecialInvestmentRegion
India.com
06-07-2025
- Business
- India.com
Meet Man Who Built India's Largest Airport: Owns Majority Stake In IPLs Delhi Capitals And Built Rs 73,575-Crore Firm—His Net Worth Is...
photoDetails english 2927457 GM Rao Success Story: Once a boy from a small town in Andhra Pradesh, GM Rao dreamt big during India's economic liberalisation. With determination and grit, he transformed his vision into reality, emerging as one of India's foremost infrastructure pioneers. Today, GM Rao leads the GMR Group, a global infrastructure giant with ventures in energy, transport, and airports. A mechanical engineer by education, he is now a billionaire industrialist and the Founder Chairman of the group. GMR is among India's top two private airport operators alongside the Adani Group. With projects spanning India, the Philippines, and Greece, GM Rao's story isn't just one of business success—it's a testament to the power of vision, resilience, and building a legacy that touches lives across continents. Updated:Jul 06, 2025, 02:38 PM IST GM Rao Humble Beginnings to Serial Entrepreneurship 1 / 8 GM Rao hails from a small town in Andhra Pradesh and started his business journey in 1978 with a single jute mill. Over the years, he explored 28 different ventures before India's liberalisation. India's 'Airport Tycoon' Built the Country's Largest Airport 2 / 8 GM Rao controls GMR Airports Infrastructure, a listed company with a market cap of Rs 73,575 crore. The group operates airports such as Indira Gandhi International Airport in Delhi, Rajiv Gandhi International Airport in Hyderabad, and Manohar International Airport in Goa. Notably, Rajiv Gandhi International Airport in Hyderabad is India's largest airport by area, spanning 5,500 acres. GMR School Of Aviation 3 / 8 In January 2024, GMR Group launched the GMR School of Aviation in Hyderabad in collaboration with Airbus, aiming to build skilled aviation professionals in India. IPL Stakeholder 4 / 8 Citing Forbes, Rao owns a 50% stake in Delhi Capitals, the IPL franchise, showcasing his deep interests beyond infrastructure. GM Rao Net Worth 5 / 8 In 2024, GM Rao returned to the Forbes India Rich List with a net worth of $3.99 billion (Rs 33,346.5 crore), securing the 78th spot among India's richest. GMR Group's Portfolio 6 / 8 GMR Group's portfolio includes GMR Airports, GMR Energy, GMR Infrastructure, and GMR Enterprises, generating Rs 8,364 crore in annual revenue. GMR Group: Massive Expansion Plans 7 / 8 The group is developing a 2,101-acre Special Investment Region (SIR) in Krishnagiri, Tamil Nadu, and setting up 50 EV charging facilities. GMR Group: Backed by Global Investors 8 / 8 In October 2023, GMR secured Rs 6,300 crore in debt funding from Abu Dhabi Investment Authority (ADIA), reinforcing global investor confidence in Rao's vision.
New Indian Express
24-06-2025
- Business
- New Indian Express
Industrialists highlight key concerns to KIADB CEO in Bengaluru
BENGALURU: Industrialists from across Karnataka raised key concerns related to land, infrastructure, and industrial policy during an interactive meeting with Dr Mahesh M, CEO and Executive Member of the KIADB. The session was organised by the FKCCI here on Monday. The major concerns pointed out by industrialists were, requirement for fully-equipped industrial estates with Sewage Treatment Plants (STPs), Effluent Treatment Plants (ETPs), power substations, streetlights, police stations, and restaurants, pointing out the difficulties industries face due to missing infrastructure and poor coordination among departments. Stressing the urgent need for improved infrastructure in industrial zones, FKCCI president MG Balakrishna said, 'There is a pressing need to ensure land availability, accelerate allotments, and expand industrial corridors into Tier-2 and Tier-3 cities.' He also urged KIADB to implement the policy of reserving smaller plots of 5,000-10,000 sq ft for MSMEs, noting that execution has been lacking. Mahesh clarified that while infrastructure costs limit plot sizes, KIADB will ensure at least 20% of plots are 10,000 sq ft or above in upcoming layouts. Further addressing the concern over the composition of the Special Investment Region committees, he assured, 'We will raise the issue of increasing industry representation with the principal secretary and the minister for necessary amendments at the rule-making level.' Addressing a query on property taxation, Mahesh explained that the KIADB, now empowered to collect property tax through a recent amendment, will reinvest 70% of the collected amount back into the respective industrial areas through the Regional Development Authority (RDA).
Hindustan Times
11-06-2025
- Business
- Hindustan Times
Karnataka notifies Peenya Industrial Area as Special Investment Region; move to boost real estate growth
The Karnataka government has officially notified Bengaluru's Peenya Industrial area as a Special Investment Region (SIR), making it the 18th such zone in the state. Situated along the Bengaluru-Tumakuru highway, Peenya is one of Southeast Asia's oldest and largest industrial hubs, home to a wide range of manufacturing units producing engineering goods, electrical equipment, textiles and several start-ups. Peenya Industrial Area (PIA), located in northwestern Bengaluru, was established in the late 1970s. It houses several small, medium and large-scale industries. Real estate experts say the SIR designation is likely to boost civic infrastructure in the core areas of Peenya. As the area develops into a more organized industrial township, demand for residential real estate, particularly in the mid-income segment, is expected to rise. Both rental and capital values are projected to increase with improved infrastructure and connectivity. According to a government notification issued on June 9, the Peenya Industrial Area, comprising its first, second, third, and fourth phases in Bengaluru district, will be designated as a Special Investment Region (SIR), covering a total area of 1,461.46 acres. The notification states, 'Peenya Special Investment Region shall be deemed to be an industrial township, and the Government of Karnataka hereby declares Karnataka Industrial Areas Development Board (KIADB) as the Industrial Township Authority.' This makes Peenya as the 18th major industrial area in Karnataka to be designated as a Special Investment Region (SIR). In April this year, the KIADB had notified 17 such industrial zones, assuming the role of Regional Development Authority (RDA) responsible for local administration, including property tax assessment, imposition, and collection. Also Read: Top 4 industrial and logistics space leasing deals in India's real estate market It should be noted that the SIR Act was introduced to streamline the development, governance, and management of large, mega, and super-mega investment zones. KIADB has been entrusted with administering these regions. The Karnataka Special Investment Region Bill was passed in 2022, with rules notified in 2024, to simplify investment procedures and position the state as a global manufacturing hub. The legislation empowers the state government to declare existing industrial areas as SIRs, define their boundaries, and promote integrated economic development. Within these notified zones, KIADB has the authority to approve land use plans, infrastructure projects, and related activities. The designation of Peenya as a Special Investment Region (SIR) is expected to significantly impact the local real estate landscape, according to Digbijay Das, Senior Director, Valuation Services at Colliers India. Peenya is already a well-established and diversified manufacturing hub with a strong presence of MSMEs across sectors such as engineering, auto components, electronics, and defence. It enjoys excellent connectivity via National Highway 4 and the Green Line of Bengaluru's Metro Rail, and is located near key residential areas like Yeshwanthpura and Rajajinagar. Social infrastructure in the region is also steadily improving. According to Das, the SIR status will influence real estate development in several ways: Provide a filip to civic infrastructureWith KIADB collecting property tax within the SIR and allocating 70% of the revenue for infrastructure development, the area is expected to see substantial improvements in civic amenities. This includes better roads, footpaths, drainage, street lighting, waste management, and reliable power supply. Enhanced safety and support servicesThe region is likely to see an upgrade in public safety infrastructure with the addition of police stations, fire stations, and medical facilities, further increasing its attractiveness for both industries and residents. Peenya is witnessing a growth in the number of start-ups within the core manufacturing sector. SIR status is expected to attract more skilled workers and investors, he said. Rise in residential demand and property valuesAs Peenya develops into a more organised industrial township, the demand for mid-income housing is expected to rise. 'Rental and capital values will likely appreciate once infrastructure upgrades are in place,' Das noted. Streamlined approvals under KIADBWith KIADB now acting as the Industrial Township Authority, project plan approvals are expected to be processed faster under Karnataka's ease of doing business policy, he added.
India.com
18-05-2025
- Business
- India.com
10 times return in 10 years; this Indian city has become new hotspot for real estate, not Noida, Gurugram, Mumbai, name is...
(AI image) New Delhi: The Dholera Special Investment Region (DSIR) in Gujarat, which is a planned smart city developed under the Delhi-Mumbai Industrial Corridor, has seen a nearly tenfold increase in land prices over the past decade due to increased interest from investors. According to Lalit Parihar, founder and MD of IG Group, available data shows that land prices in Dholera under the Town Planning (TP) schemes have risen from 700 rupees per square yard to now 7,000-10,000 rupees per square yard. In other town planning schemes, rates have also reached 3,000 to 7,000 rupees per square yard, which is clear evidence of a tenfold increase in land prices over the past 10 years. According to Rituras Singh Chudasama, a partner at Infinity Infracon located in Dholera, major infrastructure projects such as the international cargo airport and the Ahmedabad-Dholera expressway will become operational by 2025, which will accelerate Dholera's development. Developers indicate that the 109 km long expressway is being constructed rapidly. Meanwhile, projects like the Bhimanath-Dholera broad gauge railway line and the Vande Metro will further enhance connectivity. Lalit Parihar noted that now, as these infrastructures are becoming visible on the ground, investors' confidence has reached high levels, and the rising land prices are a reflection of this confidence. This figure further supports Dholera's emergence as a high-potential real estate destination. Dholera SIR is rapidly emerging as a major investment hub, attracting investments from over 100 companies, including Tata Electronics' Rs 91,000 crore semiconductor project. Dholera Special Investment Region (SIR), also known as Dholera Smart City, is a planned greenfield industrial and smart city being developed by Dholera Industrial City Development Limited (DICDL) and aims to be a major manufacturing and trading hub.
Time of India
17-05-2025
- Business
- Time of India
Dholera investment regions sees 10-fold jump in land prices over a decade, say developers
Representative image The Dholera Special Investment Region (SIR) in Gujarat, envisioned as a smart industrial city under the Delhi-Mumbai Industrial Corridor (DMIC), has witnessed a tenfold increase in land prices over the past decade, driven by growing investor interest and rapid infrastructure development , according to local developers. 'Prices per square yard across various Town Planning (TP) Schemes in the Dholera region have increased to a high of Rs 7,000 to Rs 10,000,' said Lalit Parihar, Founder and Managing Director of Dholera-based developer Aaiji Group, citing available industry data. In other TP schemes, land prices currently range from Rs 3,000 to Rs 7,000 per square yard, reflecting a tenfold rise over the last 10 years, he added as quoted by PTI. The region's transformation is being accelerated by major infrastructure projects nearing completion, including the Ahmedabad-Dholera Expressway and the upcoming international cargo airport, both expected to be operational in 2025. 'The 109-kilometer expressway is progressing rapidly, and projects like the Bhimnath-Dholera broad-gauge rail line and the Vande Metro will significantly enhance connectivity in the region,' said Ruturajsinh Chudasma, Partner at Dholera-based Infinity Infracon. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo 'With infrastructure now visible on the ground, investor confidence is at an all-time high. The growth in land prices is a reflection of this shift. This data further reinforces Dholera's emergence as a high-potential real estate destination,' Parihar said. Dholera SIR is steadily positioning itself as a major investment hub, already attracting over 100 companies. Among the most significant investments is Tata Electronics ' Rs 91,000 crore semiconductor project, underscoring the region's strategic importance and long-term growth potential. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
