Anantraj Limited, a listed real estate developer, intends 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.
Approximately Rs 4,000 crore in revenue is anticipated from these four projects, according to Anant Raj Limited Managing Director Amit Sarin. We currently have four projects underway. One is a Gurgaon group home.
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.
Expanding Presence in Gurugram: Anant Raj Limited to Launch Luxury Projects
The business intends to start construction on a five-acre ultra-luxury group housing project in Gurgaon. “There is more than Rs 1,800 crore in profits for the group housing project,” he stated further.
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.
The company is expected to develop plots or villas in this land parcel. The project spans about 25,000 square yards, as the 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.
Anant Raj’s Foray Into South Delhi: Anant Raj Center And Mixed-Use Projects
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 of serviced apartments, banquet spaces, and rooms. 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.
Anant Raj’s Expansion Plans In Tirupati, And Andhra Pradesh
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. It holds all of the Andhra Pradesh RERA’s clearances for the construction project. 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 lakhs. Our goal is to finish the project by 2027 and the structure will be 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.
Source- Moneycontrol
