Mahindra and Mahindra laid the foundation of the Mahindra World City in Jaipur on Saturday, reports CNBC-TV18.
Spread over 3000 acres, Mahindra World City is being developed as a multi-product Special Economic Zone with an investment of Rs 600 crores. It will be completed in 5 years. Managing Director and Vice Chairman Anand Mahindra gives details on the plans to develop the SEZ.
In principle, we have got approval for 1000 acres from the government. We are getting about 1700 acres of land on voluntary basis from farmers as we are giving a very attractive package as compensation. 25% of the developed land will be returned to farmers in leiu of their land that they will give. This Jaipur SEZ will be free of controversy in terms of land acquisition, said Anand Mahindra, VC & MD, Mahindra & Mahindra.
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