Ashiana Housing to invest Rs 100 cr on Halol project

New Delhi-based real estate developer - Ashiana Housing is foraying into Gujarat's real estate with its first project at Halol near Vadodara. The BSE-listed company is investing Rs 100 crore as it is identifying Gujarat's industrial clusters as the key destination for its upcoming residential reality projects in the state.

To begin with, the company has plans to set up over 500 units of residential housing project spread across 10.65 acres in Halol. Ashiana Housing Limited's vice-president Sunit Gandhi said that the company has taken 10.65 acres land parcel in Halol to develop its first residential project in Gujarat. Land has been converted into non agriculture land, he added. The land is situated in Kanjari village of Halol taluk.

Ashiana Housing which has developed luxurious residential properties in Lavasa near Pune, expects to receive the remaining approvals for the launch of the Halol project shortly where it is developing low-rise affordable group housing project with total saleable area of nearly 6.40 lakh square feet.