Delhi-based real estate major Aeren R Enterprises has revealed its plans to invest over Rs 6,350 crore in developing two projects in North India despite realtors, which are presently struggling due to high interest rates.

Under the proposed plans, the company is aiming to construct two premium residential complexes in Ludhiana, of which one would build on 12 acres of land, and other will cover 175 acres of land along with a nine-hole golf course.

Commenting on the plans, Mr. Prabhu Dutt, President(Corporate Affairs)  and CEO of Aeren R Enterprises said, “We have acquired 175 acres for the township - International City - in Ludhiana. It will be developed by 2012 and the construction cost is estimated at over Rs 6,000 crore.”

The construction of the proposed projects is expected to commence within nine months.

On talking about any possible collaboration in developing the project, Mr. Dutt stated, “We are open to private equity participation and currently talking to some international players. It is likely to be finalised in the next four months.”

The Queen’s Court, a township which will cover 12 acres of land in Ludhiana, is expected to be finalized by 2010 with the construction cost of Rs 350 crore.

In order to pep up its funds, Aeren R Enterprises is eyeing to develop a number of other projects across the northern states.