Property 06/11/2023 0 Comments

Anant Raj Limited expects to rake in Rs 4,000 crore from four projects For commercial space

Anant Raj Limited expects to rake in Rs 4,000 crore from four projects

Anant Raj Limited expects to rake in Rs 4,000 crore from four projects For commercial space

The company is planning to launch two housing projects in Gurgaon, expand an existing commercial space in South Delhi and construct close to 1,900 industrial affordable units in Andhra Pradesh

Anantraj Limited, a listed real estate developer, intends For commercial space to build nearly 1,900 industrial housing units in Tirupati, Andhra Pradesh, expand an existing hotel space in South Delhi’s Chattarpur area to set up an office and service apartment center, and start two housing projects in Gurgaon. According to Anant Raj Limited Managing Director Amit Sarin, the revenue potential for these four projects is estimated to be about Rs 4,000 crore.

We currently have four projects underway. One is Gurgaon group housing. As of right now, the corporation controls about 180 acres in this project, and we’re still actively purchasing more land. This project will eventually span 250 acres. The corporation will determine its plans for the land piece based on the policies in effect at that time, he stated.

The business intends to start construction on a five-acre ultraluxury group housing project in Gurgaon. “There is nearly Rs 1,800 crore in revenue potential for the group housing project,” he stated. In this project, the corporation plans to build approximately 10 lakh square feet, and the estimated construction cost is close to Rs 500 crore.

Additionally, the business was granted permission to extend 12 acres to its current project, Anant Raj Estate. In Gurgaon, the current township occupies 110 acres of land.

“On this land parcel, the company is expected to develop commercial space plots or villas.”This project spans about 25,000 square yards, with half an acre set aside for commercial development. We have not yet decided whether or not to launch villas or plots here. We may potentially make up to Rs 500 crore in revenue if we just sell plots, the speaker stated.

Anantraj Limited has also gotten all the clearances needed to build the Anant Raj Center in Mehrauli, South Delhi, including a registration certificate from the Real Estate Regulatory Authority.

The company’s proposal for a mixed-use land project in South Delhi has been approved. “The RERA registration for the Chattarpur Road hotel and office space project has been received. To yet, hardly one lakh square feet have been built. It plans to build six lakh square feet more. Construction has started on the hotel and serviced apartment projects that we have been given updated approval for. The property spans 5.5 acres, and the business plans to build an additional tower on the back side. With land excluded, the estimated cost of building is close to Rs 300 crore, according to Sarin.

It is anticipated that the project will comprise serviced apartments, banquet spaces, and rooms. commercial space Nearly 200 rooms, including serviced apartments, will be available. The company plans to lease it to a chain of hotels, he stated, adding that after work is finished, the company will determine whether to add retail space to the ground and first floors.

The company has started an affordable housing project in Andhra Pradesh through its wholly-owned step-down subsidiary, Jai Govinda Ghar Nirman Limited. The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) is developing Anant Raj Aashray-11, which would be located in Tirupati’s Electronic Manufacturing Cluster 2 (EMC 2). The project is around 10 lakh square feet in size. RERA, Andhra Pradesh, has given it full sanction for the construction work. It is anticipated that the development of 10 acres, excluding land, will cost around Rs 350 crore.

We are constructing an industrial township in Tirupati. It will be released following Diwali. About 1,900 units and nearly 10 lakh square feet of area will be built by us. It is anticipated that these units will have tickets smaller than 20 lakh. Our goal is to finish the project by 2027. He continued, “It will be a ground-plus-seven structure.

Founded in 1969 by Ashok Sarin, Anant Raj Ltd. is a diversified real estate firm that is listed on the NSE and BSE. IT parks, hotel developments, data centers, office buildings, retail centers, and all phases of residential projects are among the projects it develops and builds. Its annual commercial rental portfolio is valued at about Rs 65 crore.

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