Ashiana Housing to invest Rs 560 cr on new residential project in Jaipur

Realty firm Ashiana Housing will invest nearly Rs 560 crore to develop a residential project in Jaipur.

In a statement on Friday, Ashiana Housing said it has launched the first phase of its premium 10.35-acre residential project 'Ashiana Oma'. The company will develop 280 units in the first phase and a total of 490 units in the entire project.

This is a joint venture project with a revenue-sharing arrangement between the company and its development partner.

''The total estimated project cost is Rs 558.60 crore, while the estimated investment for Phase 1 is approximately Rs 186.78 crore,'' the statement said.

Ankur Gupta, Joint Managing Director, Ashiana Housing Ltd, said the project has been designed to cater to end-user customers in Jaipur, where demand for spacious premium residences with integrated lifestyle amenities continues to strengthen.

Delhi-based Ashiana Housing is one of the leading real estate developers in the country. It is listed on stock exchanges. The company specialises in developing homes for senior citizens.

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