Anant Raj launches Manesar project

Anant Raj Industries, the New Delhi-based real estate developer, plans to launch an affordable housing project in Manesar, Haryana, with 1.1 million square feet of selling space in the next six weeks.

The project to be launched at a price of about Rs 2,700 per square feet is expected to be completed in the next three years.
Construction has already started and the developer is funding it from its own cash reserve which is at over Rs 400 crore.
Total revenue generation would be Rs 200-250 crore in the next one year from the project.

Anant Raj, which is predominantly a commercial space developer, has been looking to de-leverage from the commercial side and launch more housing projects.

However, the developer’s luxury housing project in Hauz Khas, Delhi, has hit a roadblock as the high court has put a stay order on construction on a case filed by a party related to the project.