Ansal's Rs22,500 cr Township in Lucknow
Ansal Properties & Infrastructure Ltd has received preliminary government approval to double the size of its planned golfing and hi-tech city in Lucknow to 5,000 acres. This will make it one of India’s largest township projects.
The Ansal township, which would house 3, 50,000 people, will require an investment of about Rs22, 500 crore. Ansal’s share would be Rs.6, 500 crore—the rest will come from the public sector and private investors. Ansal will fund the project through a combination of equity, debt and the sale of land.
The company also announced that it has already purchased 1,500 acres directly from farmers and has had strong demand for the project’s houses and plots. Construction on the township project began about two months ago, will be built in phases.
It will feature a championship golf course, three 5-star hotels, a medicity, a university, a Tennis Academy centre, and 120 acres devoted to office buildings for IT and biotech companies.
Ansals proposes to expand the size of the project, and develop integrated townships and SEZs in smaller cities where land is cheaper so as to spread out over a larger set of users.
Ansals to set up Rs 20000 Cr Township in Greater Noida
Ansal Properties & Infrastructure promoted by Sushil Ansal has been allotted 2,504 acre land adjoining Greater Noida for setting up a Rs 20,000 crore (Rs 200 billion) integrated township. This township will comprise an IT park and a bio-technology park. The township is likely to be called Greater Noida II.
A MOU to this effect was signed between the Uttar Pradesh government and a consortium in which Ansal Properties is the majority stake holder. This decision comes at a time when the suburbs are gaining importance, with congestion and paucity of land clogging New Delhi.
The company also plans to develop a 5,000-acre township termed "Venice of the east" in Greater Noida area. Though the land acquisition for the development is yet to be finalized, the township will feature lakes and canals with electric trams to convey residents around.
Ansals will tie up funds for the project from the recently concluded qualified institutional placement of Rs 681.75 crore (Rs 6.82 billion), debt, revenues and internal accruals. "While we have been already allotted 2,504 acre, we are hopeful of extending this to 3,000," said an Ansal Properties spokesperson.
The project expected to generate significant revenue for the state government in the form of various taxes and also generate employment opportunities in IT and bio-tech sectors will have a projected population of 30,000 in the township. The ITES and bio-technology parks will be leased out to companies.
50 per cent of the area which has been earmarked for open space and roads, will include an 18-hole golf course that is likely to be designed by Martin Hawtree, who has designed over 750 courses worldwide. High-end villas and apartments are also proposed around the golf course. Ansal Plaza, the company's mall brand, will also be developed in the township.