Ansal to Invest 20 Billion Rupees on Townships

Real Estate in India
Ansal Properties and Infrastructure Ltd will invest twenty billion rupees in the this fiscal year as it seeks to capitalize on the demand for low-cost housing in India.
The investment will be the last installment of a total of sixty billion rupees earmarked last year by the company as the main investment to develop nineteen integrated townships over five to seven years. Ansal Properties spent forty billion rupees of the total in the last fiscal year.
Higher borrowing rates and property prices and fear of job losses in a slowing economy had hurt the demand for real estate in India last year. But, a series of stimulus packages and a reduction in loan rates by commercial banks are leading to a gradual recovery in demand this year.