About MIDAS :Architecture College in Chennai
About MARG Swarnabhoomi :SEZ in Chennai
An ideal destination to set up your manufacturing facilities
Welcome to a world class Engineering SEZ, designed to pursue business excellence on a land of new thinking. Spread over 311 acres of land with over 156 acres of processing area, the meticulously designed Engineering SEZ intelligently caters to every minute need of the engineering industry, making it an ideal destination to start up your operations.
Engineering SEZ is set in the mega township of MARG Swarnabhoomi. The project has created a business-friendly ecosystem by utilising smart economy, smart governance, smart environment, smart people (social and human capital), smart mobility (ICT), and smart living.
Set on the strategic ECR stretch, “the growth corridor” of the future and being close to Chennai, Engineering SEZ has access to world class academia. It is also well connected via road, rail & airport and unlike other industrial clusters, it has all the facilities to foster business. Away from common din of the cities, located at scenic backwaters of ECR, the city is planned in such a way that it harmonizes with nature and offers scenic tranquillity and peacefulness to uplift human mind and soul.
World Class Infrastructure: The amount of effort and investment required to benchmark India in a global scale is only possible with involvement and expertise of private players in such projects. Engineering SEZ project is one of a kind, with a vision to provide world-class infrastructural amenities. Besides basic amenities like power, water and communication, it also has 24-7 security, technologically advanced medium for water treatment and recycling, etc. Companies in Engineering SEZ make use of better infrastructure and facilities, to enhance their production capabilities.
Holistic Ecosystem: Inspired by major R&D and innovation centers from across the globe, Engineering SEZ aims to develop a region with holistic ecosystem by providing an environment which nurtures innovation in the engineering sector.
In sync with Environment: Unlike other industrial clusters, Engineering SEZ not only has all the facilities to foster businesses but is also connected with nature. Away from common din of the cities, located at scenic backwaters of ECR, the entire city is planned in such a way that it harmonizes with nature and offers scenic tranquility and peacefulness to uplift the human mind and soul.
Enjoy the host of benefits of setting up an operation in an SEZ:
The relaxation of land norms for SEZs will have wide-ranging implications for commercial real estate development in the country.
Instead of 25 acres which used to be the minimum required area for developing a single product SEZ, now SEZs can be promoted on even a 6.6 acre land as IT development has accorded higher floor space index (FSI is ratio of land area to built-up area) in many cities. Chennai, for instance, permits 3.75 FSI for IT development. As per the new norm, the building should have one lakh sqm area (10.76 lakh sq ft) to be classified as SEZ in seven major cities. In category B cities, the minimum built-up area specified is 50,000 sq metres and in remaining ones it is 25,000 sq metres.
The most encouraging aspect is that many more IT companies will now be able to launch their own SEZs. Previously, only the largest IT players could have their own IT SEZs, given the capital required to buy 25 acres land. Developers will now be able to aggregate smaller contiguous land parcels and turn them into SEZs.
The vacancy level was very low in SEZs located close to Chennai city. Even as about one crore million sq ft of small IT parks is lying vacant in the city and outlying areas, there is no space in SEZs. “Owing to relaxation of norms, at least two to three new IT SEZs will come up close to the central business district in Chennai” While SEZs fetch between Rs 40 and Rs 50 per sq ft as monthly rental, stand-alone IT parks are available at even Rs 20 per sq ft.
Further, some IT SEZ developers who have already met the one lakh square metre built-up area criterion will now convert the balance land for residential use, giving the mixed-use edge while also making the formation of many more walk-to-work residential projects possible.
Real estate developers will now be able to also divide up their land holdings and allocate smaller parts to IT companies to construct their own IT SEZs.
Another important outcome is that it will now become easier to exit from SEZs, given that the transfer of ownership of SEZ units – including sale – has now been allowed. Moreover, real estate private equity funds with foreign capital will now be able to do smaller deals, and this is bound to bring in more FDI into the sector.
For More Details :http://www.margswarnabhoomi.com/
The Rs 700-crore company is a leading manufacturer of flow control valves and allied products predominantly for the oil and gas sector.
Spread over one lakh sq.ft., the company’s Chennai facility is expected to cater to the “increased export demand and contribute Rs 100 crore to the company’s turnover in the next three years.
Announcing the launch of the facility on Monday, Mr Jagdish Desai, CEO of the company, said Virgo has invested close to Rs 40 crore in the facility and will invest another Rs 20-25 crore to install machinery.
The company is planning invest a similar amount in setting up a foundry at its Coimbatore facility as a backward integration initiative. “This will give us a better control over the price and quality of the products besides ensuring guaranteed supply of valve castings,” he said.
The company, in the last one year, has invested close to Rs 90 crore in India in capacity expansion projects in its Pune and Coimbatore facilities and setting up this new plant. In addition, it set up a manufacturing facility in Italy and acquired an existing facility in Germany at an overall investment of €11 million.
Virgo currently has 13 sales offices in seven countries and manufacturing facilities in India, Italy, Germany and the US, and it has a base of over 2,300 customers across 72 countries.
Mr G.R.K. Reddy, Chairman and Managing Director of Marg Swarnabhoomi, who was also present on the occasion, said Virgo’s is the fourth manufacturing facility at Swarnabhoomi. Danish pump manufacturer Grundfos, the UK-based cooling tower equipment manufacturer Vanspall and auto component manufacturer Polyhose have already set up facilities which are operational too, he said.
Besides, the company has signed with Eswari Electricals (to set up a 10,000 sq.ft of distribution facility); Twindisc for a 33,500 sq.ft. of marine transmission devices manufacturing facility; TVS Kwikpatch for a 10,500 sq.ft. space for auto components; and Techpro for manufacturing equipment for water treatment plants.