ARIL plans two integrated mini-townships in NCR

Real estate developer Anant Raj Industries Limited ARIL is planning two integrated mini-townships in NCR. ARIL executive director Amit Sarin said, 8220;These townships will be location focussed. We are in the process of land acquisition in two different areas.8221; The size of the mini-townships will be around 200 acres. The company is already developing mini-townships in its Manesar-based 1.8 million sq ft IT park 8212; slated for completion by March 2008. With an investment of Rs 2,000 crore in IT parks, ARIL is in the process of developing two IT parks 8212; in Rai, Haryana, and Greater Noida 8212; in the next two years.

The company is also focussing on development of service apartments; one of its projects is currently underway in central Delhi. Sarin said, 8220;There is a lot of potential in developing these kinds of semi-permanent establishments.8221; The company will invest Rs 300 crore in the next 18 months for the development of these apartments.

On the hospitality front, Sarin maintained that the company will invest Rs 1,000 crore in the next 2-3 years to achieve the target of a 1,000-1,500 room capacity in its four-star hotels.