Ashiana Housing gets land clearance for Rs 100 cr project

Company to build low-rise affordable housing on 10.65 acres land at Halol

Marking its foray into the real estate space in Gujarat, Ashiana Housing Ltd, a New Delhi-based real estate developer on Tuesday informed that the company has received land conversion approval for its project in Halol near Vadodara.

The company will develop low-rise affordable housing project with over 500 units spread across 10.65 acres. “We have received the land conversion approval. The project cost is around Rs  100 crore, which will be met through internal funds,” said Sunit Gandhi, vice president, Ashiana Housing Ltd.

The BSE-listed Ashiana Housing, which has also developed luxurious residential properties in Lavasa near Pune, will focus on industrial houses in Gujarat.

“This will be our first project in Gujarat. With large number of industries in the state, we see huge potential in industrial housing, which will be located closer to the industrial area,” he said.

The company expects to receive the remaining approvals and launch the project shortly.