Realty Costs To Go Up In Indian Markets - Ansal

Chandigarh: Realty developer Ansal Housing and Constructions Ltd stated that real estate prices in the metropolitan cities will arise between 10-15 per cent whereas 20-25 per cent in small cities in next 1-2 years.

Ansal Housing auspicated this development regardless of the claims that real estate market in India is heated up.

Kushagr Ansal, Director, Ansal Housing & Constructions Ltd said, “The real estate prices in Delhi, Mumbai and other metro cities will grow by 10-15 per cent and on the other hand, the prices in smaller cities will increase by 20-25 per cent.”

Although the entire situation of prices in the nation tends to remain upbeat yet there are certain pockets in which the market has depicted the overheating sign.

“There are some places like Gurgaon where the real estate market has reached its peak but in other parts of the country the prices will grow,” he added.

“During the development of real estate in Agra and Indore by our company, we observed that the real estate prices in these areas have increased by 20 and 30 per cent respectively,” he also said.

In the meantime, Ansal Housing & Constructions Ltd annunciated to build up residential township in Karnal at a land of 99 acres that involve a total investment of Rs 150 crore. The company also plans to expand such townships in Zirakpur, Jammu, Kurukshetra, Panchkula and Yamunanagar in the near future.

The company, which recorded a turnover of Rs 200 crore during last year, anticipates a rise in total earnings by 60 per cent in this fiscal.