WORKING PAPER NO: 384 MAGARPATTA CITY: FARMERS DIRECT INVESTMENT 1 (FDI) Amit Gupta Associate Professor Organisational Behaviour & HR Management Indian Institute of Management Bangalore Bannerghatta Road, Bangalore – 5600 76, India Ph: 080-26993322
[email protected] Sucheta Dalal Managing Editor, Moneylife 315, 3rd Floor, Hind Services Industries Premises, Off Veer Savarkar Marg, Shivaji Park, Dadar (W), Mumbai 400 028
[email protected] Debashis Basu Founder, Editor and Publisher, Moneylife 315, 3rd Floor, Hind Services Industries Premises, Off Veer Savarkar Marg, Shivaji Park, Dadar (W), Mumbai 400 028
[email protected] Amita Joseph Director, Business and Community Foundation Y-85 Ground Floor Hauz Khas New Delhi – 110016, INDIA
[email protected] Year of Publication-November 2012 1 Acknowledgements: The authors thank Satish Magar, Chairman and Managing Director, Magarpatta Township Development and Construction Company Limited, for giving permission to write this case study and spending his valuable time telling us the story of how Magarpatta City evolved and developed. Other people from Magarpatta City who provided valuable input for this case were Manik Sharma, Assistant Vice President-Sales and Marketing, Manoj Sharma, Vice President-Administration and Security, Pheroz Homavazir (Head of Department - Property Management Services), Seema Bhosale, (Environmentalist Officer) and Tejaswani Kulkarni (Chief horticulturist). This project could not have been completed without the contacts, financial support, and administrative assistance of Amita Joseph, Director, Business and Community Foundation (BCF). The project was supported by a research grant from Indian Institute of Management Bangalore. 1 MAGARPATTA CITY: FARMERS DIRECT INVESTMENT (FDI)2 Abstract Magarpatta City covers 430 acres3 of land that was owned by about 120 farmer families with 800 individuals.