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Dec, 01 2006

Unitech to build theme park in Chandigarh

The Sarangpur based Unitech has bagged a 73-acre theme park project in Chandigarh, after evaluating technical and financial bids from DLF and Pantaloon. The company will be investing close to Rs 250 crore in the project.

The administration will continue to own the land and Unitech will only be entitled to utilise the land on payment of a Rs 5.5 crore annual licence fee and 1.1% of the gross annual revenue. Moreover, this will be the real estate major's first project in the city. Earlier, 14 other companies, including Emaar MGF, had applied for the project. The project has been set on international theme parks and will include high-tech rides and world-class entertainment facilities. A mini-India model spread over 3 to 4 acres of land, wax museum on the lines of Madame Tussaud's, glass boats in the lake, mini-monorail within the theme park, cycling tracks and cycling facilities, small air-conditioned buses for tours within the theme park, will all be there. With regular features like food courts, restaurants, retail and shopping facilities and green spaces, the project plans to attract about 10 lakh tourists to Chandigarh every year on its completion.

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