Uttar Pradesh government plans to invest Rs 1,250 crore
Uttar Pradesh: The real estate market in the country is growing rapidly at this time and real estate companies are also preparing to take full advantage of it. In this episode, Mumbai-based real estate company Abhinandan Lodha Group has planned to acquire properties in many cities across the country. The group is also ready to invest Rs 1,250 crore in this. Recently, the group also acquired a large piece of land in Ayodhya and also started a project there. Company Chairman Abhinandan Lodha said that we are buying most of the land in states where the group’s projects are already going on. These include states like UP, Maharashtra, Goa, Punjab and Himachal Pradesh. Apart from this, the company is also engaged in buying properties in Rajasthan, Madhya Pradesh and Gujarat. For this we have planned to invest Rs 1,250 crore.
What are the plans of the company?
Abhinandan said that by December 2024, our team will complete the designed project of about 60,000 square feet. The next preparation is to complete further development on 700 hectares of land by March 2025. Apart from this, we aim to create a land bank of 1,000 acres. Thus, our company has planned to invest about Rs 1,800 crore by the end of the current financial year.
More focus on 6 cities
While acquiring land, the group paid special attention to six cities. These include Amritsar, Khopali near Mumbai, Nagpur, Varanasi, Shimla and Vrindavan, where some projects are expected to start next year. The group has also implemented one of its projects in Goa. Property prices in India are constantly rising. If someone invests for a long period, then after compounding, one can earn a return of 20 to 25 percent.
