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ANSAL INVESTS Rs.130 bn IN GREATER NOIDA TOWNSHIP

Submitted by TheIndiaStreet on July 18, 2008 - 9:39am.
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by Bharat Ratna


  • Ansal Properties & Infrastructure Ltd is going to invest Rs.13,000 crores in Greater Noida

  • This is 2500 acre venture and it may extend upto 9000 acres of land in future as per government's hi-tech policy.

  • Township has 950 acres of residential, 200 acres of commercial purposes and 115 acres of IT & Biotechnology parks

  • The detailed layout plan already approved and Project cost is Rs. 268 billion.


Ansal Properties & Infrastructure Ltd would invest 130 billion rupees in a 2,500 acre-township which is adjoining of Greater Noida in Uttar Pradesh.


The company plans to invest Rs26,800 crore over the next five years in developing this project.


Ansal has already a land bank of 7,000 acres with 17 townships, 15 shopping malls and three Special Economic Zones in its different phases of ongoing projects.


Mr P.N. Misra, Executive Director - Business Development, Ansal API said that the investment in the project would be close to Rs 13,600 crore whereas the project turnover is about Rs 26,900 crore. The project would come up in many phases, and the completion may happen by 2013.


Mr Misra further told that the detailed layout has been approved and work will start within a month.


Uttar Pradesh Government has approved this Megapolis project which is about 3km from Greater Noida. Land for the project will be acquired directly from the farmers and the government. Ansal will acquire 75% of the land directly from farmers and 25% would be acquired by the government for Ansal. The company bought around 300 acres of land, paying around Rs35-40 lakh for an acre.


The township would have 950 acres of residential property, 200 acres for commercial purposes and 115 acres for IT and biotechnology parks.


Ansal will fund this project through internal accruals, customer advances and by partnering with financial institutions. HDFC Bank Ltd has picked up 8% stake in the project.


HDFC has so far invested Rs500 crores in the project though Ansal didn’t give the total value of the bank’s stake.


Mr Misra added that Ansal is not worried about the slowdown of industry. Our customers are actual users and not speculative investors. It has already sold 200 individual plots in the township.

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