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Hubli News

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Darren Hands
Darren Hands

Newgen Homes has secured a prime piece of land opposite a new Infosys development near Hubli airport. The land will be developed into flats, homes, and open spaces over 4 years. Initial funds have been secured and the remaining funds will be required in 12 months. Newgen is also planning a long-term 100+ acre master planned community in Hubli that will house 50 businesses relocating there. This project will be a joint venture with the government. Construction has commenced on Hubli projects 2, 3, and 4 which involve land subdivisions and a new development using a lightweight construction material that could reduce costs and timelines.

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Newgen Homes Pty Ltd 18th October 2015 1 Proposed Projects Hubli 5 (Land Opp to Infosys near airport) Over the past 6 months we have been identifying many sites for our next construction project. A parcel of land near the new international airport area has been our target and we have now secured this prime piece of real estate at a price better than expected. This land is strategically located opposite to a new development to house the Infosys IT company. Infosys is expected to employ 10,000 workers and will be Hubli's largest IT Park. Continued pg2 Hubli 2 (Dharwad Land Subdivision) All approvals for land conversion are now complete. Marketing has commenced with 10 sales to date. We have 50 plots to sell. Site works commenced this month. Site works to be completed by end of January 2016. All sales to be completed & settled by May 2016. Hubli 3 (Opp Hyundai land subdivision) Land has been sold and settled. Funds have been repatriated to Australia for disbursement. Hubli 4 (New Court Development) Site works commenced this month also. We are currently in negotiations to secure a new construction material which will reduce our costs and construction time by 40%+. We are therefore delaying any major works until this is ready as the footings will not need to be as deep given the light weight material. The overall timeframe will still be the same. HUBLI NEWS Project Updates | New Projects | What's New in India
Newgen Homes Pty Ltd 18th October 2015 2 Cont from Pg1 Based on this we have been able to delay final settlement by 12 months so our target market will be ready to go. Site works for stage 1 of Infosys has already commenced. The development will be new to Hubli and mirror what is happening in the larger cities. Some flats, some individual homes & plenty of open space. The development will have a pool, clubhouse, gardens, gym etc. It will be a tiered site given the gradient of the land. Funds are secured for the initial deposit and remaining funds will be required in approx 12 months. This will be a 4 year project in total. 12 months to settlement & 3 years construction & sales. A long term project is a 100+ acre master planned community development in Hubli. Many businesses want to move to Hubli and we will secure 50 that will work in this development which doubles as accommodation for the workers and their families. This will be a joint venture with a Government body. Specialists in master planning are being shortlisted at the moment along with potential sites. Hubli 1 Complete What's New In Hubli The Dharwad side of Hubli -Dharwad have secured 2 new IIT campuses to be developed in the coming years. This was a great success for the city as it will increase the exposure to new businesses setting up in the IT field. The IT & Bio fuels Minister has been appointed the leader of the Government in Karnataka now and wants to leave a legacy from his Government in the last 2 1/2 years in power. The international airport is still under construction and due to be opened, to mainly freight flights, but will also have direct flights to other parts of Asia, within 12 months. The domestic was recently upgraded and is reopened. The City has also reverted back to its original name of Hubballi which was changed during the British rule. This is now a common change to cities throughout India. Education and construction are still the 2 key business ventures that we are looking at in India. Solar power plants are also on the agenda and will provide long term stable returns for investment. Our 1st project is under due diligence at the moment.

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Hubli News

  • 1. Newgen Homes Pty Ltd 18th October 2015 1 Proposed Projects Hubli 5 (Land Opp to Infosys near airport) Over the past 6 months we have been identifying many sites for our next construction project. A parcel of land near the new international airport area has been our target and we have now secured this prime piece of real estate at a price better than expected. This land is strategically located opposite to a new development to house the Infosys IT company. Infosys is expected to employ 10,000 workers and will be Hubli's largest IT Park. Continued pg2 Hubli 2 (Dharwad Land Subdivision) All approvals for land conversion are now complete. Marketing has commenced with 10 sales to date. We have 50 plots to sell. Site works commenced this month. Site works to be completed by end of January 2016. All sales to be completed & settled by May 2016. Hubli 3 (Opp Hyundai land subdivision) Land has been sold and settled. Funds have been repatriated to Australia for disbursement. Hubli 4 (New Court Development) Site works commenced this month also. We are currently in negotiations to secure a new construction material which will reduce our costs and construction time by 40%+. We are therefore delaying any major works until this is ready as the footings will not need to be as deep given the light weight material. The overall timeframe will still be the same. HUBLI NEWS Project Updates | New Projects | What's New in India
  • 2. Newgen Homes Pty Ltd 18th October 2015 2 Cont from Pg1 Based on this we have been able to delay final settlement by 12 months so our target market will be ready to go. Site works for stage 1 of Infosys has already commenced. The development will be new to Hubli and mirror what is happening in the larger cities. Some flats, some individual homes & plenty of open space. The development will have a pool, clubhouse, gardens, gym etc. It will be a tiered site given the gradient of the land. Funds are secured for the initial deposit and remaining funds will be required in approx 12 months. This will be a 4 year project in total. 12 months to settlement & 3 years construction & sales. A long term project is a 100+ acre master planned community development in Hubli. Many businesses want to move to Hubli and we will secure 50 that will work in this development which doubles as accommodation for the workers and their families. This will be a joint venture with a Government body. Specialists in master planning are being shortlisted at the moment along with potential sites. Hubli 1 Complete What's New In Hubli The Dharwad side of Hubli -Dharwad have secured 2 new IIT campuses to be developed in the coming years. This was a great success for the city as it will increase the exposure to new businesses setting up in the IT field. The IT & Bio fuels Minister has been appointed the leader of the Government in Karnataka now and wants to leave a legacy from his Government in the last 2 1/2 years in power. The international airport is still under construction and due to be opened, to mainly freight flights, but will also have direct flights to other parts of Asia, within 12 months. The domestic was recently upgraded and is reopened. The City has also reverted back to its original name of Hubballi which was changed during the British rule. This is now a common change to cities throughout India. Education and construction are still the 2 key business ventures that we are looking at in India. Solar power plants are also on the agenda and will provide long term stable returns for investment. Our 1st project is under due diligence at the moment.