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Developing modern Jharkhand on path of progress

Jamshedpur : In the vein of most of the states of India, Jharkhand is inclined towards industry. Besides great prospects of power and electricity, the state has seen great rise in the establishment of industries.

As far as natural resources like minerals, land and water are concerned, Jharkhand is among the richest States of India.

Out of the total population of 288.46 lakhs, 223.1 lakhs live in rural areas and only 65.36 lakhs are urban dwellers.

Even a cursory glance is sufficient to convince that most of the tribal, Dalit and OBC population live in villages and depend on land and allied activities for their livelihood.

Urban areas are inhabited by upper and middle classes, engaged mostly in trade, commerce, industry, and
the service sector.

Jamshedpur, the city that was awarded 8th best city of the country prize vis-ŕvis its civic amenities by Union urban development ministry is witnessing all time high investment boom.

Thanks to the efforts of Tata Steel and several ancillaries associated with the Tata Group.

The city which had a humble beginning in 1907 is now marching ahead in the tune to the other metro cities.

The city is set to witness a new growth for the next 100 years to come. It is worth mentioning that with 57 per cent of its population ‘extremely satisfied’, Jamshedpur stands next only to Chandigarh in terms of the overall ‘quality of life index’ (QOL) according to a study by AC Nielsen ORG-Marg.

Jamshedpur houses the Tata Steel which is Asia’s first integrated private sector steel company, Tata
Steel today is the world’s one of the largest steel producer with geographic footprints in India, South East
Asia, UK and Europe.

Today, the Tatas has expanded its services to automotives, commodities, energy, hotels, retail, financial
services, broadcast and software and telecoms.

Embarking on the guidelines proposed by the Founder, Tata Steel moved from the danger of being an
obsolete plant during the pre-liberalization period when many other companies could not stand thrust.

Not only it has diversified itself, it has also gone global. Tata Steel is the first integrated steel company in the world, outside Japan, to have been awarded the Deming Application Prize 2008 for excellence in Total
Quality Management.

On its hundredth anniversary, Tata Steel won the bid to purchase the Anglo-Dutch steel giant Corus.

Thereafter, it acquired Nat Steel and Millennium Steel, which is now called Tata Steel Thailand. The company has proposed to develop three Greenfield Steel projects in Jharkhand, Orissa and Chattisgarh, and one in Vietnam.

Jamsetji Tata, “A Man of Destiny” stands alone on the pinnacle in respect to his vision. With a desire to
advance in the industrial frontiers of India, he conceived business structures and strategies together with
a concern for values, ethics and responsible corporate citizenship.

Possessed with a high acumen and an inclination to envision really big, J N Tata envisaged the formation
of a steel plant in the eastern region coupled with hydroelectric ventures which virtually ushered India
into the Industrial and Electrical age.

Tata Steel’s Founder J N Tata believed that the community is not just another stakeholder in any free business enterprise, but is in fact its backbone.

Tata Steel’s success story is the story of an enterprise whose growth has come about not only because
of its performance but also through its initiatives focusing on the triple bottom line of financial, social
and environmental progress.

Several dignitaries and guests of the company arrive to pay homage on this occasion to Jamsetji who is
regarded as a key figure in industrial revolution.

Besides, there is an array of colorful display of floats by various departments and divisions of Tata Steel,
which moves across the city.

On this occasion the Steel City wears a festive look. Jamsetji observed that sports develop discipline, team
spirit and endurance which later on reflect on work.

Therefore, various categories of sports events are organized on this occasion catering to different strata
of life. Participants even with hearing imparities take part in the sport events held at Gopal Maidan in Jamshedpur.

J N Tata’s love for his nation was immense and the poverty of the masses strongly dwelt upon him. Following his guidelines, Tata Steel has framed various social welfare programmes for the upliftment
of the urban, rural and tribal people.

The amalgamation of vivid demonstrations by the tribal group on this day is quite appealing. The Asia’s leading industrial area in the Adityapur is also looking forward to its better days with slew of projects that
include some big ticket projects likely to get roll out on the ground in the coming few months.

Not only the Adityapur Industrial Area Development Authority (AIADA) but the local industrialists too
are waiting for a turnaround in the backdrop of industry friendly politician back on the Chief Minister’s
chair in the state.

The Special Economic Zone, (SEZ) and Adityapur Auto Cluster Limited (AAAL), the two most significant
projects of AIADA are gradually unfolding with exercise to put AAAL in place getting momentum following
effective pursuance by the state industry department.

“Though, the AAAL project was scheduled to begin by September (2010) but technical glitches and logistic constraints consumed another few weeks…the construction work has however got off and we are hopeful of completing the project at the earliest possible time,” says S N Thakur, an industrialist.

The total budget of the AAAL is Rs 65-crore of which Rs 45crore will be invested in constructing a series
of multipurpose testing laboratories while Rs 20crore will be spend on common affluent treatment plant and
waste hazardous plant and, the rest Rs 5crore will be spend on wages, transportation and other economic
activities.

Refractories technical lab, sheet metal technical lab, foundry technical lab among others will be part of the auto cluster zone, which is a first of its kind in the Jharkhand, informed AAAL officials.

The SEZ project was crafted to promote export specific industries in the state and in this connection 95 acres of land in the Adityapur industrial area was earmarked by the AIADA with a cost projection for infrastructure development pegged at Rs 175 crore in the year 2005.

In the first phase more than 500 units of automobile, ceramic, aluminum and glass units, among others, were
expected to come up at the SEZ that in turn would have catered jobs to thousands of hands.

“SEZ is a joint project of the Union and state government and, now with investment cost running high due
to prolonged delay and, the Central government going slow on SEZ in the wake of farmers protest and all such issues I see multiple hindrances before the SEZ lobby,” says a senior official at the land office of the
AIADA.

The sprawling Adityapur Industrial Area houses more than 900 units- including 11 large-scale, 64 medium scale and 166 small industries.

A few important industries that have global presence are Usha Martin Group and RSB Group. There are about 20 industries, which export its products to the USA, Australia and other European countries.

The state government in turn earns around Rs 1000 crore revenue from the industrial area. Moreover, the demand for property has been rising in cities like Jamshedpur and Adityapur as people hunt for serene
surroundings.

These two areas are now witnessing fast paced growth in terms of real estate developments across all the sectors-residential, commercial and retail.

“Large section of the population residing here for decades in the two cities are directly and indirectly linked
to Tata Steel and they are willing to settle down here besides, within a limited area house seekers strength as
increased manifold giving promoters and developers ample opportunity to cash on the situation,” opines T C Mahanty, chairman, Builders Association of India (BAI), Jamshedpur chapter.

Owing property at Circuit House area and Contractors area in Bistupur, in the heart of the Steel city, is very
expansive as industry insiders put the present rate of a plot here at Rs 5000 per sq feet while in Baradwari and Sonari area the rate is around Rs 3500 per sq feet.

The real estate market in the city has been doing exceptionally well for the past 10 months but in past years
while residential and retail prices have shot up, commercial prices in all major places have been keeping pace
with inflation.

The demand for property has been rising in cities like Jamshedpur and Adityapur as people hunt for calm
surroundings. These two areas are now witnessing fast paced growth in terms of real estate developments
across all the sectors-residential, commercial and retail.

With the demand for residential and commercial complexes rise, over 200 local developers have at least two
projects in hand.

The increased investments in the field of real estate have also increased the rates of the spaces.

Commercial space in the heart of the city is available for Rs 4,000 to Rs 11,000 per square feet(sq.ft) while
apartments are available for Rs 1000 to Rs 4000 per square feet ( sq.ft).

For example the property rates at Circuit House are between Rs 5000 per sq feet to Rs 6,000 sq feet Sonari
area the rate is around Rs 3500 per sq feet.

Moreover since there are no large parcels of land within the city, retail malls are likely to come up on the outskirts.

Moreover, retail activity has increased with various houses like Big Bazaar, Reliance Fresh, City Bazaar are
opening their showrooms to cater the changing needs to the city.

When residential requirements were met to a limited extent, the status of Steel city as a realty destination escalated high.

Now property in Steel city has become very expansive making people look for quieter yet fully equipped housing address on the national highway (NH-33) connecting state capital Ranchi to Kolkata.

“When there’s no housing space left within the city the industry moved to highways and the good thing
is that we are getting good response here also,” said R K Sinha, proprietor, Heaven India Real Estate Ltd.

The emerging interests of various local and regional real estate players like Sahara Apartments, Aastha Apartments, Ashiana Homes and Rishiraj Homes are all set to reach new heights soon.

There are about 40 plus builders and promoters in Jamshedpur and Adityapur aggressively pursuing the
business of providing a decent flat or apartment to the people to leave in.

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