Real estate sector is set to bounce back after its sluggish momentum which the sector has been undergoing for a while.
Real estate majors – Supertech and Ansal API have recently announced their fresh launches. These projects are to be completed with an amount of Rs.8,000 Cr. The real estate majors plan to complete the projects within 4 years.
At the same time some real estate builders are cutting their debts off by divesting their properties. Yet this will not be the case in the coming years. Real estate experts opine that real estate will boom in the coming years.
DLF, a leading real estate developer, expect to cut their debts off in the upcoming years. Most of the real estate companies expect better sales despite rising housing prices.
Supertech revealed their plan to invest Rs.5500 Cr in their new projects. The real estate firm targets Rs.10,000 Cr in the form of annual revenue by the end of 2015. The expected annual revenue of the firm is fourfold than the present Rs.2500 Cr.
The group would be investing mainly in North India. Firstly in the form of land, the officials opined. R K Arora, Chairman and MD of Supertech, said that the group will become one leading real estate developer by the year 2015. He expects that their new real estate investment of Rs.5500 Cr will help the group achieve the target.
Supertech’s investment is mainly on housing projects. The group will purchase lands in New Delhi and other NCR regions. Supertech also holds plans of expansion to Uttarakhand.
The real estate major at present owns nearly 1,000 acres of land in the Northern states alone. Mr. Arora said that the firm plans to acquire 400-500 more acres of land. He added that Rs.2500 Cr is separated with this purpose.
Ansa, an NCR centered real estate firm, announced the firm’s plan to launch another project. The firm has an investment of Rs.1500 Cr. The firm will develop a number of housing projects across India. The top officials of the firm told that the firm will become debt- free firm by the end of 2015.
Mantri Realty is another real estate firm which disclosed their new project. The firm plans to develop 3 housing projects over the period of next 2-3 years. They will launch their projects in Karnataka and Maharashtra.
