By Our Staff Reporter
Dehradun, 15 Apr: One of the largest township projects under construction in Uttarakhand is the Windlass River Valley Township project located at Harrawala-Kuanwala at NH-72 Haridwar Dehradun Highway. Being a project of a mega scale, it got a big investment push by approval of investment to the tune of Rs 171 crores from Government-backed last-mile financing platform, Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH).
It is believed that the investment will help the developers to complete this mega projects in time. It may be pointed out that the township, a project of M/s Windlass Constructions is spread over 35 acres and is designed to be an integrated township which will be having facilities like premium residences, schools, multispecialty hospitals, a shopping mall, five-screen multiplex, hotel, and a clubhouse. The township project is the largest fully integrated development project of Uttarakhand. This particular funding by SWAMIH is particularly help the developers to complete the construction of this project in the course of next two to three years.
Sources added that the funding was approved on the advice of investment banking firm Ashika Capital. SWAMIH is currently engaged in its objective of funding the completion of residential projects across India, including smaller towns like Dehradun, which may not be on the radar of top institutional investing firms.
According to Sudhir Windlass, CMD of Windlass Group the investment was managed by SBICAP Ventures purely on the basis of merit and due to committed values of the project. The project is currently being developed in phases including the first phase that started in 2015 and has been delivered and second phase that is closer to handover stage and third phase that is expected to be completed over next three years.