Ansal Properties & Infrastructure is likely to convert three out of four of its notified IT SEZs into residential projects owing to fall in demand for IT SEZs. Two of these SEZs are in Haryana and one in Uttar Pradesh.

The company is expected to take a decision to apply for de-notification and converting the three IT SEZs, which have already been put on hold for the last eight to nine months, before December 2009.

The sizes of the three SEZs, two of which are in Haryana and one in Uttar Pradesh, vary between 25 acre and 75 acre.

Currently, the company is developing one more IT SEZ in Gurgaon, for which it has teamed up with IL&FS. In 2009, it had announced its plans to invest Rs 3,600 crore in developing six IT SEZs and parks, spread over 270 acre in Greater Noida (Uttar Pradesh), Gurgaon (Haryana), Lucknow (Uttar Pradesh), Khopoli (Maharashtra) and Noida (Delhi).

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Ansal plans cost-effective housing in Uttar Pradesh, Rajasthan (23-Jan-09)