Anant Raj Industries, a realty company based in Delhi has plans to launch a township project in the next two months which will be its largest. This was disclosed on condition of anonymity by two individuals associated with the development of the project.
This township project will be spread over an area of 125 acres and will be located in Central Gurgaon. According to company sources the saleable area of this township project will be around 6 million sq feet. The company plans to begin construction work on the project within the next two months. The sources also revealed that the expected revenue potential of the said project is estimated at Rs 4200 to 4500 crores which the company hopes to realize within the next two to three years. Till now Rs 500 crores have been already incurred by the company as land acquisition expenses for the project.
Mr. Amit Sairn, Director and CEO of Anant Raj Industries while declining to comment on the development did reveal that already an amount to the tune of Rs 860 crores have been spent by the company during the last year on land acquisition over the last year and at present more focus is being given on the residential segment.
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