Ansal API to invest Rs 1,500 crore in Haryana on realty projects

Published: May 5, 2010

Realty major Ansal Properties & Infrastructure Ltd plans to invest about Rs 1,500 crore over the next three years on expansion of its existing integrated townships and to develop a group housing project in Haryana.

“We have either completed or in the process of completion of our four townships projects at Sonepat, Karnal, Panipat and Kurushetra. Now, we have chalked out a plan to expand the size of these townships by about 100-acre each,” Ansal’s President (Haryana) Shashank M Jain told PTI.

While the size of Panipat, Karnal and Sonepat townships is 300 acre, the Kurushetra township is of 150 acre.

Ansal has also launched a housing project comprising 1,800 flats in Sonepat, he said, adding that about 700 units have already been sold.

When asked about the investment on these projects, Jain said the project cost would be about Rs 1,500 crore, which would be funded through internal accrual, debt and advances from customers.

Besides these projects, Jain said the firm would start development of its Yamunanagar township, which is spread over 150 acre, next year. The company has land for this purpose.

“We are also looking to launch 150 acre-township in Hisar and two more destination in Haryana,” he said.

“Ansal is developing 24 townships across the country, which is maximum by any developer. We intend to futher expand our presence in this segment,” Jain said.

Last year, Ansal API had said that it will invest up to Rs 35,000 crore over the next 10 years to develop 19 township projects.

“We are the largest township developer. We are currently developing 19 townships in North India. These townships are spread over about 7,000 acres of land,” Ansal API Vice- Chairman and Managing Director Pranav Ansal had said.

Source:The Economic Times

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