Buoyed by robust sales of its low-cost homes, real estate firm Ansal API today

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said it will launch over 2 million sq ft area under affordable housing category during the next fiscal.

"We have already sold over 8,500 affordable houses in a price range of Rs 5-12 lakh this year and will achieve the target of selling 10,000 units by March, 2010," Ansal API vice-chairman and managing director Pranav Ansal told PTI.

Ansal said the company would launch up to 4 million sq ft of new projects across the country during the next fiscal.

"Of the total projects, about 75 per cent will be residential and rest will be commercial projects," Ansal said, adding about 70 per cent of the housing projects would come under affordable category.

He, however, declined to comment on the likely investmentthe company would make to build these projects.

Asked about the company's fund raising plans, Ansal said: "We have recently raised Rs 203 crore by issue of warrants... we are also talking to some international private equity firms for raising money at projects level."

Ansal API would invest Rs 100-150 crore in construction of the planned 10,000 affordable units over the next couple of years as the company already owns the land, he said. The sizes of these houses would vary between 300 sq ft and 500 sq ft.

Earlier, Ansal had said the company would invest up to Rs 35,000 crore over the next 10 years to develop 19 townships across the country.