Modern India Ltd Announces ₹2000Cr Investment Plans for Rajasthan

Expanding Footprint in the State

Mumbai-based Modern India Ltd has unveiled ambitious investment plans worth ₹2000 crore for Rajasthan, marking a significant foray into the state's real estate landscape. The multi-faceted project encompasses the development of a luxurious five-star hotel in Udaipur, a special economic zone (SEZ) in another part of the state, and the establishment of a jewellery training institute.

Luxury Hospitality in Udaipur

Project Details: A five-star hotel with approximately 200 rooms, strategically located near a lake in Udaipur.
Investment Value: ₹1000 crore.
Next Steps: The company has identified the land and will shortly commence the acquisition process.

Diversifying with a Special Economic Zone (SEZ)

In addition to the hotel project, Modern India Ltd is keen on setting up an SEZ in Rajasthan, further solidifying its investment in the state. This move aligns with the company's broader strategy to diversify its portfolio.

Existing Projects

Through its subsidiary, Modern India Property Developers Ltd, the company is currently developing an electronic hardware and software SEZ on approximately 37 acres of industrial land in Khopoli, Maharashtra. Key highlights of this project include:

Project Value: ₹900 crore.
Location: Strategically situated on National Highway 4, offering dual connectivity.
Timeline: Scheduled for completion within three years.
Development Structure: Being developed through a Special Purpose Vehicle, with Modern India Ltd as a major stakeholder.

Quote from the Chairman and Managing Director

Vijay Kumar Jatia, Chairman and Managing Director of Modern India Ltd, shared insights into the project, highlighting the company's enthusiasm for the hotel project in Udaipur and the SEZ, as well as its commitment to contributing to Rajasthan's growth through diverse initiatives, including the planned jewellery training institute.