Anant Raj, Managing Director of Anant Raj Ltd, announced the company will be investing approximately 1,000 INR-Crore in developing four projects in Gurgaon, Delhi, and Tirupati. These projects include the development of – a luxury residential project in Gurgaon, a plotted mixed-use project in Gurgaon, an affordable housing project in Tirupati, and the expansion of the existing motel in Delhi.
The luxury residential project is being developed in a phased manner in sector 63 A of Gurgaon, over 180 acres of land. The real estate group is ready to launch a new development in the same location over approximately 1 Million SqFt. These premium residential towers are anticipated to generate a revenue of 1800 INR crore. The company also plans to acquire the land near the existing project and take it to 250 acres.
Additionally, the developer acquired a 25,000 Sq yard of land parcel in Gurgaon and is planning to develop it into a plotted commercial and residential project. It is proposed to launch this financial year.
Also Read: ‘Godrej Ananda’ an upcoming residential project by Godrej Properties in Bangalore
The existing motel in Delhi’s Chattarpur will undergo an expansion over the additional 5.5 acres of land (acquired due to the change in guidelines). The developer is planning a 200-key hotel over this land (keeping the existing development intact) along with banquets, serviced apartments, and an office tower across approximately 100,000 SqFt. The company has received RERA for this project and the construction has begun.
Anant Raj Ltd also envisages expanding its affordable housing portfolio with the affordable housing project at Tirupati, Andhra Pradesh. The project involves the construction of 1900 units for 2 BHK apartments over a potential development area of 1 Million SqFt.
Together, these projects are estimated to generate a revenue of 4,500 INR-Crore to 5,000 INR-Crore for the real estate developer. Apart from these, the company also plans to invest 10,000 INR-Crore for developing a 300 MW data center in the next few years.
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