Ansal Properties and Infrastructure is mulling over an investment of Rs.500 crore to develop ten thousand low-cost housing units by June 2011. The housing units will be available in the price range of Rs.2.5-9.5 lakh.

The housing units will come up at Lucknow, Agra and Meerut in Uttar Pradesh and at Jaipur, Jodhpur, Ajmer and Bhilwara in Rajasthan. Ansal has completed the land acquisition for the housing project and has received necessary approval for the project from the nodal agencies. The funds for the proposed project will be coming through internal accruals and advance against sales.

The company has sold about 2,000 low-cost housing units that were launched in November 2008 in Uttar Pradesh and Rajasthan. At present, Ansal is holding talks with other states in North India for reducing the stamp duty on affordable houses, so that it can launch similar projects there.