Ansal API sells 600 units in hi-tech city
The Hindu Business Line, December 7, 2009, Page 13
New Delhi, Dec 6 (PTI)
Realty firm Ansal Properties and Infrastructure (Ansal API) has sold 600 flats worth around Rs 250 crore in its first-group housing project at hi-tech city near Greater Noida. The 2,500-acre hi-tech city ''Megapolis'', located at Dadri adjoining Greater Noida, will be developed in various phases with the first phase spread over 500 acres.
"We had launched the first group housing project in the hi-tech city in July this year. Since then, we have sold 600 apartments with a sales value of about Rs 250 crore," Ansal Hi-Tech Township Chief Operating Operation Rakesh Kaul said.
"Demand has been very robust and so we have increased the number of units to 1,100 from the initial 700 flats," he said.
Property demand, which slumped last year due to global economic slowdown, has started to pick up, especially for housing units falling in a range of Rs 10-30 lakh.
The company will invest Rs 120-130 crore on construction, Kaul said, adding that the total realisation from 1,100 flats will be about Rs 400 crore. The flats would be offered at Rs 11-42 lakh depending upon the sizes that vary between 750 sq ft and 2,200 sq ft. Ansal Hi-Tech Township is a special purpose vehicle (SPV) formed to build the hi-tech city. The company had bagged the hi-tech city project from the UP government last year. "The project will have a sale value of Rs 26,000 crore and the total investment will be Rs 13,000 crore," Ansal API Chairman Sushil Ansal had said in July last year.
The Hindu Business Line, December 7, 2009, Page 13
New Delhi, Dec 6 (PTI)
Realty firm Ansal Properties and Infrastructure (Ansal API) has sold 600 flats worth around Rs 250 crore in its first-group housing project at hi-tech city near Greater Noida. The 2,500-acre hi-tech city ''Megapolis'', located at Dadri adjoining Greater Noida, will be developed in various phases with the first phase spread over 500 acres.
"We had launched the first group housing project in the hi-tech city in July this year. Since then, we have sold 600 apartments with a sales value of about Rs 250 crore," Ansal Hi-Tech Township Chief Operating Operation Rakesh Kaul said.
"Demand has been very robust and so we have increased the number of units to 1,100 from the initial 700 flats," he said.
Property demand, which slumped last year due to global economic slowdown, has started to pick up, especially for housing units falling in a range of Rs 10-30 lakh.
The company will invest Rs 120-130 crore on construction, Kaul said, adding that the total realisation from 1,100 flats will be about Rs 400 crore. The flats would be offered at Rs 11-42 lakh depending upon the sizes that vary between 750 sq ft and 2,200 sq ft. Ansal Hi-Tech Township is a special purpose vehicle (SPV) formed to build the hi-tech city. The company had bagged the hi-tech city project from the UP government last year. "The project will have a sale value of Rs 26,000 crore and the total investment will be Rs 13,000 crore," Ansal API Chairman Sushil Ansal had said in July last year.
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