More realty firms enter affordable housing in UP

Despite the ongoing recession, real estate firms in Uttar Pradesh are venturing in construction of affordable houses. After the Lucknow Development Authority (LDA) which recently announced construction of economy apartments, realty major Ansal Properties and Infrastructure too have jumped in the fray.

The rates fixed by Ansal Properties for the economy apartments are so far lowest in Lucknow. Ansals have decided to offer one bedroom apartments at Rs 7 lakh and two bedroom for Rs 10 lakh. The compnay has decided to give a tough fight to the state-owned housing agencies in the ‘economy’ housing segment.

Earlier, LDA had announced an ambitious housing scheme named ‘Aishbagh Towers’ offering one bedroom apartment at Rs 10 lakhs and two bedrooms for Rs 19 lakh. LDA is constructing 500 units in each segment and has started registration in the scheme last week.

Ansal Properties expects good response for the these affordable apartments. Ansals, which is making a hi-tech city in the name of Sushant Golf city in Lucknow on more than 2,000 acreas, had got a good response for the row houses it is constructing for the economically weaker section.

Almost all the houses under this category have been sold now as the prices were kept as low as Rs 6.5 lakh.