SPR Group plans re­launch of its whole­sale mar­ket pro­ject

The Hindu Business Line - - NEWS - G BALACHANDAR

The SPR Group is propos­ing the re­launch of its ‘Mar­ket of In­dia’ pro­ject to at­tract more traders for its whole­sale mar­ket com­plex com­ing up in the north­ern part of Chennai.

The whole­sale mar­ket com­plex in the SPR City, which is be­ing built on more than 63 acres of land , has so far at­tracted ex­pres­sion of in­ter­est (EoI) from about 1500 traders. The Group seeks to rope in more traders into the com­plex, which will of­fer sev­eral fa­cil­i­ties such as load­ing and un­load­ing ar­eas, cafe­te­ria and atrium etc.

“We will plan our re­launch around Pon­gal fes­ti­val, and we are chart­ing a mega plan for this pro­gramme. Our in­tent is to in­crease the num­ber of EoIs to 3,000 from 1,500 and to 5,000 later,” Navin Ranka, Di­rec­tor, SPR Group told Busi­nessLine.

The con­struc­tion for the ex­ist­ing EoIs has started and cur­rently, reg­is­tra­tion and other for­mal­i­ties are on. The com­pany has sold space for whole­salers in the range of 150-2,000 sq ft.

Whole­sale mar­ket

SPR’s ‘Mar­ket of In­dia’ whole­sale mar­ket pro­ject has been mod­elled along the lines of China’s Yiwu mar­ket, the world’s largest whole­sale mar­ket of small com­modi­ties.

“We are build­ing an ecosys­tem for the whole­salers who have been look­ing for an or­gan­ised space to set up their shops and grow,” he said.

Ranka said that a strong trad­ing link is es­sen­tial for man­u­fac­tur­ing to grow and thrive. Trade hubs such as Sow­car­pet in north Chennai are choked. Due to in­ad­e­quate park­ing space and nar­row stretches, a lot of peo­ple have stopped vis­it­ing those ar­eas. Those traders need re­ju­ve­na­tion, and SPR City is cre­at­ing a more ad­vanced whole­sale mar­ket ecosys­tem un­der ‘Mar­ket of In­dia’ trade park pro­ject,” he added.

Res­i­den­tial projects

On the res­i­den­tial side in SPR City, the com­pany has so far sold 450-500 apart­ments that in­clude 2,3 and 4BHK houses un­der its first phase pro­ject. “We have sold more than one mil­lion sq ft of res­i­den­tial space and the re­main­ing space is about 3-4 lakh sq ft that is, 100-150 apart­ments re­main to be sold,” he said.

The SPR City is also ex­e­cut­ing its villa pro­ject, where houses will come in the price range of ₹3-4 crore.

“Right now, we are in the process of get­ting ap­provals,” added Ranka.

A school by Shri­ram Col­lege Group will also get com­pleted in­side the SPR City by March this fis­cal.

He said that the group was fi­nanc­ing its pro­ject through in­ter­nal ac­cru­als and funds from its part­ners.

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