Real estate major, Ansal Properties and Infrastructure (API), on Thursday announced launch of its high-end vertical township project in the vicinity of international airport and proposed metro project at Mohali in Punjab. API, which entered real estate five years ago in Punjab, plans to invest over Rs 3,000-4,000 crore in diverse real estate projects ranging from IT parks, industrial parks, townships, malls and hospitality projects, largely in tricity (Chandigarh, Mohali and Panchkula) area and Punjab.
“The multi-crore project christened ‘Orchard County’ coming up near World Bank-funded six lane road project, will also have Golf Links (golf fields being developed by the company), IT parks and industrial set ups in the vicinity,” Deepak Sachdev, COO, Punjab API said. The company’s Ansal API golf-linked township project that is to come up also at Mohali would entail investment of over Rs 200 crore and would be an integrated township with plots, luxurious villas, condominiums, penthouses, commercial space and malls, he said. The project would be spread over 200 acres and is expected to be completed in 3-4 years, he added.
Sachdev said that the company has also signed with Roots Corporation for setting up “Ginger Hotel” in Mohali. The company also plans to set up five-star hotel on Kharar-Landra road to cash in on upcoming international airport, he revealed.
The company has projects in all the major cities in Punjab, including, Ludhiana that has garnered second highest investment from the company and would house API residential complexes similar to the “Orchard County”, besides business park, industrial park and boutique mall. In Amritsar, the company has already started the construction of Aerodrome Township. In Jalandhar the company has planned Sushan City for which land has already been acquired.
Out of the 20 API townships across India, eight are in Haryana and now the focus is on township projects in Punjab. Apart from residential and commercial spaces, the company is also coming up with an SEZ on 250 acres near Murthal in Haryana
The residential project at Mohali consisting 16 towers in all, is unique in the region considering that 82% area has been kept under green space and built up area occupies just 18% of the land. Over one lakh square feet area is likely to be created in the nine storied 16 housing towers that would be partially completed in next two years, API executives said.