Ahmedabad-based realty developer Calica Construction and Impex Pvt Ltd has launched an Information Technology (IT) and IT enabled Services special economic zone (SEZ) ‘Third Eye Voice’ worth Rs 650 crore at Ahmedabad.

The SEZ will take place at the outer region of the city in over 20 acres of land and would house small as well as medium sized IT companies.

In a statement, the developer said that the first segment of the project will be completed within two years with initial investment of Rs 300 crore.

Realty major Omaxe announced that the company would develop a 2,700 acre hi-tech township at Lucknow in Uttar Pradesh. The company expects profit of over Rs 2800 crore from the project.

Garv Buildtech Private Ltd, which is a subsidiary of Omaxe, had signed up a deal with the Lucknow Development Authority to develop a township in the city.

The announcement was made by Omaxe in a filling of the Bombay Stock Exchange.

A study released by Knight Frank on 'Affordable Housing in India'stated that the market size for affordable housing in the country would reach up to Rs 3,00,000 crore by
2011.

It is expected that the housing requirement in the country would cross over 2 million units by 2011.

The research report added that the maximum contributors to this market size would be those who earn 3-6 lakh income annually.