Hand-over of Phase-1 of the Landmark 306 Acres ‘Alpha International City, Karnal' with World-class, Pre-Planned Infrastructure & Plotted Deve

The 1st phase of Alpha International City, Karnal (AICK)

, the post-modern, eco-friendly and fully integrated approx. 306 acres township developed by real estate and asset management company, Alpha G:Corp is presently being handed-over to buyers with 141 acres of completed plotted development and contemporary infrastructure and amenities. AIC, Karnal recently received the completion certificate for the 1st phase from the Director, Town and Country Planning, (DTCP) Haryana.

As per the Government of Haryana's recently framed new policy on 3.2.2010 for allotment of 50% to the Below Poverty Line (BPL) families only, who do not own any flat or plot in any HUDA sector or licensed colony in any of the urban areas of the State. The first preference is given to the BPL families listed in the same town, followed by being listed in the district and then the State. The balance 50% plots are handed over to Housing Board, Haryana who will construct flats and allot the same to BPL families only. At AIC, Karnal, in adherence to the policy there were 106 plots allotted under EWS category decided by public draw of lots and equal number of plots (106 plots) handed over to Haryana Housing Board for construction of flats and the allotment to the BPL families in pursuance of the above policy of the Government with the same number.

In pursuance of the above scheme of Government, Alpha G:Corp Development Pvt. Ltd. took the lead and announced the scheme on 5.3.2010 itself by inviting applications from BPL card holders for 106 plots situated in their fully integrated township, Alpha International City in Sector 28 and 29, Karnal. The last date for submission of the applications was 5.4.2010. In response to the above scheme, a total 823 applications were received. The applications from Karnal Town were placed in the first draw held on 24.09.2010 at Alpha International City, Karnal. Although there were minor deficiencies in about 65 applications but it was deemed appropriate to give them an opportunity for its rectification being persons of Below Poverty Line category and hence were also included in the draw subject to fulfilment of complete documents within a stipulated time.

The process of handover to individual buyers under regular non-BPL category at AICK is also in full swing at the largest and most modern residential development across categories in Haryana. It is one of the very few integrated townships in the state that have obtained the completion certificate. The development of Phase 1 was financed by Punjab National Bank and also partnered by leading financial institutions like HDFC Limited, LIC Housing Finance Limited and DHFL for home loans to interested buyers.

"Our township is a very attractive destination as it delivers the future today. We have taken all possible care to create an ideal and self sufficient eco-system with all the necessities of life within Alpha International City. The extensive research done by our team before launching and our offerings based on it led us to an exceptional response from buyers and investors despite the general slowdown in the market then. The study revealed that there were ever-increasing aspirations and demand for more wholesome and organized lifestyles among families of Tier II & III towns. In our case, even people from Delhi and Chandigarh seized this opportunity for a second home in a premium destination. AIC, Karnal also provided NRIs with a viable and hassle-free option to invest in their country of origin. The appreciation in price since the launch for early buyers has been manifold due to these positive factors. We would like to thank our customers, the authorities and the media for their support and patronage in making Alpha International City, Karnal a huge success. We anticipate a similar overwhelming response at the launch of the 2nd Phase of this benchmark mega habitat, which would be in the festive period, closer to Diwali when there will be many lucrative offers for buyers and investers," shared a confident and upbeat Mr. S. K. Sayal, Director & CEO of Alpha G:Corp.

The 306 acres, Rs.1600 crores (US $350 million) international city in Karnal is one of the first truly world-class development with fully laid out infrastructure by any real estate developer in a Tier-II city in India along with planned retail, hospital, school and hotel. AICK will provide a metropolitan and modern environment to residents with the integrated township being developed in planned phases where world-class infrastructure, advanced civic amenities, eco-friendly measures, healthcare, schools, temple, security, retail and commercial establishments will establish it as a self-contained and benchmark township. The township comprises of plot sizes in 970, 500, 360 and 250 sq. yards in regular category. The designated green area and landscaping will be spread over 100 acres of the total 306 acres.

"Phase II of AICK will be launched soon comprising of plotted developments in 162, 250 and 360 square yards respectively, with post-modern specifications and post contemporary infrastructure. Even before the launch of Phase II, its uniqueness is that all external development works, including electrical and sewage systems, main roads, avenues, parks and all common services of the township are complete as the entire infrastructure for the 306 acres development was completed successfully with the development of Phase I", added Mr. Sayal. As a result, Phase II plots will have ready water and electrical connections besides the community centre, Alpha Centre' in the heart of the township with facilities like lawn tennis courts, swimming pool (with separate splash pool for small children), squash courts, a world-class multi-level gymnasium, billiards, table tennis, well appointed guest rooms and a well-equipped banquet hall; facilities that will take recreation and interaction among residents to a new level.

With the vast experience and expertise, the Alpha G:Corp team will help and assist any plot buyers in areas of design, construction or interiors for their plots upon request.

"Alpha International City, Karnal creates a harmonious balance of nature. We have handpicked hundreds of select trees and planted them strategically in the township such as roads, parks and urban greens. These are thoughtfully designed to ensure comfort and easy use by all age groups. The location of various structural facilities and amenities are most conveniently located and strategic and sustainable tie-ups will be formed with suitable national and international players and brands for their investment and services in the fields of infrastructure, education, healthcare, entertainment, shopping mall, hyper market, F&B and multiplex. Besides, work on the Temple at AICK is scheduled to start very soon. AICK as the largest world-class township in Haryana will soon be a benchmark in integrated developments across the country," surmised Mr. Mukul Kumar, Chief Technical Officer, Alpha G:Corp.

Ideal Surroundings

The township is designed with the ecological perspective. Efficient water harvesting systems have been used to maintain the ecological balance scientifically and systematically. There is uninterrupted water supply throughout the year from a single source of water through a specially designed high capacity bore well. A state-of-the-art water treatment plant will ensure superior drinking water. Besides, AICK has invested in Energy Conservation Systems, Segregation & Management of Waste -- Solid and Liquid, Vermiculture and a state-of-the-art Sewage Treatment Plant. Global Education Management Systems (GEMS) of Dubai, the world's largest provider of private education in the K-12 segment has already tied-up with Alpha G:Corp for an international school within Alpha International City, Karnal.

Alpha G:Corp Development Private Limited is one of the fastest growing professional companies in the Indian real estate industry with residential, retail and mixed-use projects encompassing an area of more than 40 million square feet in Gurgaon, Amritsar, Ahmedabad, Karnal, Fatehabad, Jallandhar, Jaipur, Goa and Meerut.

In 2006 Morgan Stanley Real Estate in an exclusive agreement with Alpha G:Corp, invested Rs. 300 crores and the global major is now on the Board of Directors of Alpha G:Corp. After due diligence of prospective partners, Morgan Stanley focused on Alpha G:Corp due to the company's long-standing reputation of delivering landmark building and for their pioneering asset management models.

www.alphagcorp.com

Hand-over of Phase-1 of the Landmark 306 Acres Alpha International City, Karnal' with World-class, Pre-Planned Infrastructure & Plotted Deve

By: Richa Katiyar

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