Ashiana Housing's Major Expansion: New Senior Living Project in Chennai
Ashiana Housing has secured nearly 23 acres in Chennai to develop a senior living housing project, with expected sales of Rs 1,200 crore. This acquisition is adjacent to its existing Ashiana Vatsalya project within Mahindra World City. The company plans further expansion into Bengaluru and Mumbai.
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Ashiana Housing is set to expand its presence in Chennai after acquiring nearly 23 acres of land to build a senior living housing project. The company anticipates a revenue potential of Rs 1,200 crore from this venture.
Acquired on a perpetual lease from Mahindra World City Developers Ltd, the land is strategically located within the Mahindra World City complex. The senior living project will feature villas and apartments, enhancing Ashiana's portfolio.
Riding on the surge in demand, Ashiana Housing reported an 83% rise in sales bookings in Q1, reaching Rs 430.97 crore. The company plans further expansions into Bengaluru and Mumbai, strengthening its market presence.
(With inputs from agencies.)
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