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Anant Raj industries to invest heavily in North India

Real estate developer Anant Raj Industries will be investing Rs 43 billion to develop properties across North India over the next three years. The company plans to develop four SEZs, two service apartments and one IT park across various locations in northern states. The company aims at touching the daily rental of Rs 20 million by mid- 2010. The sizes of the proposed SEZ would vary between 25 acres and 108 acres. The four SEZs would entail an investment of Rs 37.50 billion, which would be developed by 2010.

The company is also planning an IT park in joint venture with US-based private equity fund Monsoon Capital over 1.6 million sq. ft. at Panchkula and is also developing two service apartments in New Delhi comprising a total of 260 units to be completed by 2009 at cost of Rs 1.70 billion. The company plans to fund all projects via internal accruals, joint ventures and little amounts of debt.

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