Ansal to build Rs1300 cr township in Gurgaon

Ansal to build Rs1300 cr township in Gurgaon

New Delhi: Real estate firm Ansal Properties and Infrastructure plans to invest Rs1,300 crore over the next three years to develop a township project in Gurgaon. The company expects Rs1,700 crore sales realisation from this 112-acre township ‘Esencia’.

“It will be a pilot project for a new green rating system ‘Griha’ being jointly promoted by the Ministry of New and Renewable Energy and TERI," said Pranav Ansal, vice-chairman and managing director, Ansal Properties and Infrastructure. The company would offer plots in a price range of 50 lakh to 5 crore while the villas will be priced between to 7 crore.

The developer will soon close a deal with ICICI Prudential to raise 0 crore selling 49% stake in the group housing part of its 2500 acre Aquapolis township in Ghaziabad. Meanwhile, company’s board has recently approved preferential allotment of equity shares to a set of investors including Enam Investment Services Pvt. Ltd to raise around 70 crore.

The board also approved an enabling resolution for raising upto 1,000 crore through the QIP route.