Anantraj Limited, a publicly traded real estate developer, intends to launch two housing projects in Gurgaon, expand an existing hotel space in South Delhi’s Chattarpur area to set up an office and service apartments center, and build nearly 1,900 industrial housing units in Tirupati, Andhra Pradesh. According to Amit Sarin, Managing Director, Anant Raj Limited, the income potential for these four projects is projected to be close to Rs 4,000 crore.
“As of now we have four projects in the pipeline. One is a group housing in Gurgaon. The company till date owns close to 180 acres in this project and we are in the process of continually buying land here. We plan to take this project to 250 acres. Depending on the policy prevalent at that point in time, the company will decide what it intends to do with the land parcel,” he said.
The company intends to develop a five-acre ultraluxury group housing project in Gurgaon.“The group housing project has a revenue potential of close to Rs 1,800 crore,” he said. The business wants to build up to 10 lakh square feet in this project, with a construction cost of close to Rs 500 crore.
In addition, the business acquired a license for an additional 12 acres in its current project, Anant Raj Estate. The current township in Gurgaon is situated over 110 acres.
“The company is expected to develop plots or villas in this land parcel. We have close to 25,000 sq yards in this project and half an acre is reserved for commercial development. We are yet to take a call on whether we intend launching plots or villas here. If we sell only plots, then we are looking at a revenue potential of Rs 500 crore,” he said.
Anantraj Limited has also secured all clearances, including a registration certificate from the Real Estate Regulatory Authority, for the development of the Anant Raj Centre in Mehrauli, South Delhi.
The company has received approval for a mixed land use project in South Delhi. “We have received RERA registration for the hospitality and the office space project on Chattarpur road. Only one lakh sq ft is constructed till date. It intends to construct an additional six lakh sq ft. We have received a revised approval for serviced apartments and a hotel and construction has begun. This is a 5.5 acre development and the company expects to construct a new tower on the rear side. The cost of construction is expected to be close to Rs 300 crore excluding land,” said Sarin.
“The project is expected to include rooms, banquet halls and serviced apartments. There will be close to 200 rooms including serviced apartments. The company intends to lease it to a hotel chain,” he said, adding the company may decide if it intends including retail in the ground and first floors once construction is complete.
The firm has started an affordable housing project in Andhra Pradesh via its wholly-owned step-down subsidiary Jai Govinda Ghar Nirman Limited. The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) is developing Anant Raj Aashray-11 in Tirupati’s Electronic Manufacturing Cluster 2 (EMC 2). The project has a saleable area of around 10 lakh square feet. It has acquired all construction permissions from RERA, Andhra Pradesh. The estimated cost of constructing 10 acres, excluding land, is close to Rs 350 crore.
“This is an industrial township that we are developing in Tirupati. We will be launching it after Diwali. We will construct close to 10 lakh sq ft of space and approximately 1,900 apartments. The ticket size of these units is expected to be less than 20 lakh. We hope to complete the project by 2027. It will be a ground-plus-seven structure,” he added.
Ashok Sarin created Anant Raj Ltd, an NSE/BSE listed firm, in 1969 as a diversified real estate company. It develops and builds IT parks, hotel projects, data centers, office buildings, retail malls, and all types of residential projects. It has a commercial rental portfolio of almost Rs 65 crore per year.