Ashiana Housing buys 22 acre land in Gurugram to build residential project

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Realty firm Ashiana Housing has acquired 22-acre land in Gurugram from Ramprashta group for about 170 crore to develop a residential project. “We have purchased about 22-acre land from Ramprastha group for about 170 crore,” Ashiana Housing MD Vishal Gupta told news agency PTI.

He said the company will develop a group housing project, which is located in Sector 93, New Gurugram, Haryana. Gupta said it would take 6-8 months to get various approvals to start the construction of this project. The potential saleable area is 21 lakh sq ft in this project.

Recently, the company entered into a development agreement to build a 12-acre residential project for senior citizens in Pune on a revenue-sharing basis.

Ashiana Housing has added two projects to its portfolio this month, as part of its strategy to expand the business and future growth. In the Pune project, Ashiana Housing said the total size of the land is 11.93 acres, located in Mouje Varale, Taluka Mawal, District Pune (Maharashtra). The total saleable area in the project is about 8,95,000 sq ft.

Shares of Ashiana Housing closed 1.7% higher at 138.4 per share on the BSE on Monday.

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