New Launch26 Aug 2025, 02:16 pm
Ashiana Housing Acquires 22.71-Acre Land in Chennai for Senior Living Project
AI Summary
Ashiana Housing Ltd. has acquired a 22.71-acre piece of land on a perpetual lease basis from Mahindra World City Developers Ltd., a material subsidiary of Mahindra Lifespace Developers Ltd. The land is located within the complex of Mahindra World City at Chennai, Tamil Nadu, and is adjacent to the company's existing Senior Living project, 'Ashiana Vatsalya'. The land has a saleable area of 15 lakhs sq. ft. (approx.) and a sales potential of INR 1,200 crores (approx.). The company plans to develop a senior living project, including villas and apartments, on this land.
Key Highlights
- Ashiana Housing Ltd. has acquired a 22.71-acre land parcel in Chennai from Mahindra World City Developers Ltd.
- The land is located within the Mahindra World City complex and is adjacent to the company's existing Senior Living project, 'Ashiana Vatsalya'.
- The land has a saleable area of 15 lakhs sq. ft. (approx.) and a sales potential of INR 1,200 crores (approx.).
- The company plans to develop a senior living project, including villas and apartments, on this land.
- The acquisition is expected to strengthen Ashiana Housing's presence in the senior living segment.