NEW DELHI: Ansal Properties & Infrastructure plans
to expand its two big townships in Lucknow and Greater Noida by about
4,000 acres, for which it has sought permission from the Uttar Pradesh
government.
The company is currently developing a 3,500-acre township ‘Sushant Golf City’ at Lucknow, while the ‘Megapolis’ township at Greater Noida spreading over an area of 2,500 acres.
The company’s focus is housing and primarily development of townships for the middle and high-middle class people. In order to offer more homes to more people, the company has applied for expansion of the two hi-tech townships to the UP government.
The company has applied to expand the Sushant Golf City to 6,000 acres, while application has been made to extend the Megapolis to 3,500-4,000 acres.
The applications are under consideration and the Lucknow project may receive the approval for expansion very soon. Both the projects are under development now.
The company is developing about 70,000 units and 50,000 units at present at Lucknow and Greater Noida respectively.
With the expansion, the company will be able to offer a total of another 80,000 new units in both the townships.
The company is likely to put in for the additional development, and is currently putting in about Rs.33,000 crore over a period of two decades and it will increase proportionately.
From Lucknow the company is expecting Rs.25,000 crore sales and it will go up by Rs.15,000 crore post expansion. Similarly, the Megapolis' value will go up by another Rs.20,000 crore from Rs.30,000 crore.
The company plans to fund these two projects through various modes, including internal accruals, debt and private equity raising.
Besides these two projects, the company is also expanding another township -- Esencia -- at Gurgaon by 200 acres.
The Gurgaon township is being developed in 112 acres of land with about 3 million square feet of saleable area. The company currently has a net land bank of about 8,500 acres in various locations across the country.
2,3,4 BHK Apartment Starts Rs.26.7L
The company is currently developing a 3,500-acre township ‘Sushant Golf City’ at Lucknow, while the ‘Megapolis’ township at Greater Noida spreading over an area of 2,500 acres.
The company’s focus is housing and primarily development of townships for the middle and high-middle class people. In order to offer more homes to more people, the company has applied for expansion of the two hi-tech townships to the UP government.
The company has applied to expand the Sushant Golf City to 6,000 acres, while application has been made to extend the Megapolis to 3,500-4,000 acres.
The applications are under consideration and the Lucknow project may receive the approval for expansion very soon. Both the projects are under development now.
The company is developing about 70,000 units and 50,000 units at present at Lucknow and Greater Noida respectively.
With the expansion, the company will be able to offer a total of another 80,000 new units in both the townships.
The company is likely to put in for the additional development, and is currently putting in about Rs.33,000 crore over a period of two decades and it will increase proportionately.
From Lucknow the company is expecting Rs.25,000 crore sales and it will go up by Rs.15,000 crore post expansion. Similarly, the Megapolis' value will go up by another Rs.20,000 crore from Rs.30,000 crore.
The company plans to fund these two projects through various modes, including internal accruals, debt and private equity raising.
Besides these two projects, the company is also expanding another township -- Esencia -- at Gurgaon by 200 acres.
The Gurgaon township is being developed in 112 acres of land with about 3 million square feet of saleable area. The company currently has a net land bank of about 8,500 acres in various locations across the country.
2,3,4 BHK Apartment Starts Rs.26.7L
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