Ansal ready to launch low-cost housing in Agra

Ansal ready to launch low-cost housing in Agra
The Financial Express, January 7, 2010, Page 4

Rajat Guha, New Delhi

After launching affordable housing projects in five cities across Rajasthan and Uttar Pradesh, Delhi-based realty company, Ansal API, is all set to launch a major affordable housing project in Agra. The project, under the brand name ‘Aastha’, will be part of Ansal API’s upcoming 500-acre mega township project, Sushant Taj City, in Agra, with a total investment of about Rs 1,000-1,100 crore.

The Agra affordable housing project of Ansal’s will have 1,600 units. The houses, with sizes ranging from 560 sq ft to 920 sq ft, will be priced in the range of Rs 7 lakh to Rs 11 lakh. The project is slated to be lauched next week.

This will be the third affordable housing project Ansal API will be launching in UP, the first two being in Lucknow and Meerut. While the Luknow project offered 800 units, the Meerut project had 350 units under the affordable housing category. All its affordable housing projects in UP are being launched under the common brand name Aastha. Ansal API has set a target of developing 10,000 units under its ambitious affordable housing segment over the next five year period. According to P N Misra, executive director, Ansal API, the group plans to develop the affordable housing segment as its major growth area in tier I and tier II cities.

Besides UP, Ansal API has launched three affordable housing projects in Rajasthan – Jaipur, Ajmer and Jodhpur. All its affordable housing projects in Rajasthan are launched under the common brand name Abhilasha Homes. The company is learnt to be gearing up to hand over possession of the completed units in its Jodhpur affordable housing project this month.