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| ABW Infra to invest Rs 1,000 cr on township in Haryana |
| Press Trust of India / New Delhi Mar 15, 2010, 13:48 IST |
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Realty firm ABW Infrastructure today said it will invest Rs 1,000 crore in developing a 105-acre integrated township in Gurgaon, in Haryana.
"This township is going to be our flagship project. We will invest Rs 1,000 crore to build about 2,500 units in this projects," ABW Infrastructure Managing Director Aditya Bansal said.
The flats will cost between Rs 19.62 lakh and Rs 55 lakh, he added. Bansal said the company is targeting a sales revenue of about Rs 2,000 crore from the township.
The company has already acquired the land for the project and construction will start in the next 2-3 months, he said, adding the company is also planning to expand the township to up to 250 acres.
The project -- Aditya Niketan -- will be developed in different phases and the entire township will be completed in the next five years, Bansal said.
When asked about the source of funding for the project, he said, "It will be done through internal accruals and debt. We will also utilise the revenue coming from sales."
Giving details of 'Aditya Niketan', Bansal said that apart from residential areas, the township will house hotel, school, medical facility and commercial spaces.
The township will have 2 and 3 BHK apartments and the size will vary between 950 sq ft and 1,500 sq ft, he said.
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