New Launch30 Mar 2026, 03:52 pm
Ashiana Housing Ltd. Cancels Earlier Agreement, Enters New Ones for Land Parcel in Panvel, Maharashtra for Senior Living Project
AI Summary
Ashiana Housing Ltd. has entered into two new agreements with Caroa Properties LLP for a land parcel in Panvel, Maharashtra. The first agreement is for the sale of 6.02 acres of land where the company plans to develop a Senior Living project with an FSI potential of 7,00,000 sq. ft. The second agreement is for a perpetual lease of 1.03 acres of land with a potential of 5,000 sq. ft. Both lands are adjacent to each other. The company intends to apply for approvals soon and launch the project by the fourth quarter of the FY ‘27. The earlier agreement to perpetual lease has been cancelled. The new agreements are not related party transactions and are not with any party related to the promoter/promoter group/group companies.
Key Highlights
- Ashiana Housing Ltd. has entered into two new agreements with Caroa Properties LLP for a land parcel in Panvel, Maharashtra.
- The first agreement is for the sale of 6.02 acres of land for a Senior Living project with an FSI potential of 7,00,000 sq. ft.
- The second agreement is for a perpetual lease of 1.03 acres of land with a potential of 5,000 sq. ft.
- The company plans to launch the project by the fourth quarter of the FY ‘27.
- The earlier agreement to perpetual lease has been cancelled.