New Delhi Headquartered Ashiana Housing Will Launch Two Luxury Housing Projects in Jaipur and Two Senior Living Projects in Chennai in 2024

Ashiana Housing Ltd, a prominent player in the real estate sector, is gearing up for an ambitious expansion.

The company has announced plans to unveil two luxury housing projects in Jaipur and two senior living projects in Chennai, with a projected investment of Rs 700 crore.

Ankur Gupta, the Joint Managing Director of Ashiana Housing, shared that the company is not just stopping at these projects. They aim to complete ongoing construction ventures valued at Rs 400 crore by the close of this fiscal year.

In Jaipur, the company is set to introduce two distinct housing projects. The first, named '144', is a luxury apartment complex spread over a 4-acre plot, offering 144 ultra-luxury apartments. Each apartment will span an average of 2,700 square feet, with a unit price hovering around Rs 2 crore. The second project in Jaipur will be a villa housing development, limited to 56 luxurious residences.

Chennai will witness the launch of two senior living projects by Ashiana Housing. One will be situated in Mahindra World City, while the other will find its home on East Coast Road (ECR). These projects will house 450 and 1,050 units respectively, with a combined investment nearing Rs 500 Crore, inclusive of land costs.

Furthermore, Gupta revealed that two care facilities are nearing completion, one in Chennai and another in Bhiwadi. These facilities are expected to open their doors to the public by January 2024.

Highlighting the growing demand for senior living, Gupta mentioned that while they previously sold 150-200 units annually, this year they project sales of 450-500 units. This indicates a significant surge in the market.

As part of their broader expansion strategy, Ashiana Housing is eyeing Bengaluru and Mumbai, with plans to construct approximately 20 million square feet this fiscal year. The company is actively scouting for land in prime locations, including the Mumbai-Pune Motorway, Bengaluru, Jaipur, Gurugram, and Jamshedpur. Specifically, in Bengaluru, they are seeking 7 to 15 acres for a senior living project.

Currently, Ashiana Housing boasts eleven ongoing projects spread across seven key locations: Chennai, Pune, Gurugram, Jaipur, Jodhpur, Jamshedpur, and Bhiwadi.