Government-Ansal tie-up to promote energy efficiency in construction

The government has launched an initiative that marks the first tie-up between it and a real estate developer, Ansal Properties to promote energy efficiency in the construction sector. The construction style being sought to be popularised under the government's national action plan on climate change through the initiative aims to cut carbon emission from large townships.

Secretary for the ministry of new and renewable energy secretary Deepak Gupta told reporters that the government wants all real estate developers to voluntarily adopt to the guidelines prepared jointly by the ministry and The Energy Resources Institute (Teri) to get a rating.

Under the rating scheme real estate developers would be given incentives by way of reimbursement of rating fee and architects would also be rewarded. Ansals plan to invest around Rs1,300 crore in the next three years for the development of a 112-acre green township in Gurgaon called Esencia. This will be a pilot project for 'Griha' a new green rating system jointly promoted by the ministry and Teri according to Ansal vice-chairman and MD Pranav Ansal.
Ansal expects realisation of Rs1,700 crore in sales from the township.

The company would offer plots ranging in price from Rs 50 lakh to 5 crore while the villas would be priced between Rs3 crore to Rs7 crore.

The developer is expected to soon close a deal with ICICI Prudential to raise Rs70 crore by selling 49 per cent stake in the group housing part of its 2500 acre Aquapolis township in Ghaziabad. Meanwhile, a preferential allotment of equity shares to a set of investors including Enam Investment Services Pvt. Ltd has been approved by the company's board. The allotment will raise around Rs70 crore.

An enabling resolution for raising upto Rs1,000 crore through the QIP route has also met the board's approval.