Ashar Group's Flagship Project secures deals worth Rs 900 Mn

08 Jan 2025 CW Team

This remarkable achievement includes three prominent deals and 57000 sq.ft of commercial real estate, showcasing Ashar IT Park as a premier address for businesses in Thane. Among these is a Rs 55 crore deal with the fractional real estate ownership platform hBits. This initiative offers investors a high-yield commercial real estate asset with an entry yield of 8.75% and expected IRR of 15.16%. The fractional ownership model democratises access to premium commercial properties, allowing investments starting at just Rs 25 lakh. The other 35 Cr is through private investors who have invested in pre-leased assets in Ashar IT Park.

Speaking about the success, Ajay Ashar, Chairman and Managing Director of Ashar Group, said: “Thane has rapidly emerged as a key commercial IT office space and residential hub in MMR, driven by unparalleled infrastructure growth and connectivity. The success of Ashar IT Park is a testament to the increasing demand for premium IT/ ITES office spaces in well-connected locations. We are committed to launching 1.5 to 2 million sqft of prime commercial large offices spaces in Thane next year to meet the aspirations of modern businesses and contribute to the region's economic growth."

Adding to the vision, Ayushi Ashar, Director of Ashar Group, shared: "Ashar IT Park represents the future of workspaces, blending strategic location, contemporary design, and sustainable infrastructure. The response we’ve received underscores the trust investors place in Ashar Group and highlights the growing demand for smart, high-yield commercial properties”.

Ashar IT Park, situated in the dynamic Wagle Estate area, offers state-of-the-art infrastructure tailored and offering the biggest floor plate and the biggest campus in Wagle Estate, Thane, to modern business needs, reinforcing its appeal as a prime investment and operational destination. The rapid sales pace reflects not just the project's intrinsic value but also the rising prominence of Thane as a preferred destination for IT/ITES commercial enterprises.

With this momentum, Ashar Group continues to spearhead transformative developments across MMR, reinforcing its legacy of excellence and innovation in real estate.

Ashar Group, a leading name in the real estate landscape of the Mumbai Metropolitan Region (MMR), has reached a significant milestone by closing Rs 900 million worth of transactions at Ashar IT Park, Wagle Estate, Thane. This accomplishment further cements Ashar Group’s position as a pioneer in all the verticals of real estate IT/ ITES Health Education residential and commercial real estate office space, following its recent successes of a luxurious triplex unit at 'The Legend by Ashar' in Pali Hill, Bandra, for Rs 1.72 billion (Rs 1.81 lakh per sq ft.), and the rapid sale of 500 units at 'Ashar Merac' within just five weeks of its launch. This remarkable achievement includes three prominent deals and 57000 sq.ft of commercial real estate, showcasing Ashar IT Park as a premier address for businesses in Thane. Among these is a Rs 55 crore deal with the fractional real estate ownership platform hBits. This initiative offers investors a high-yield commercial real estate asset with an entry yield of 8.75% and expected IRR of 15.16%. The fractional ownership model democratises access to premium commercial properties, allowing investments starting at just Rs 25 lakh. The other 35 Cr is through private investors who have invested in pre-leased assets in Ashar IT Park. Speaking about the success, Ajay Ashar, Chairman and Managing Director of Ashar Group, said: “Thane has rapidly emerged as a key commercial IT office space and residential hub in MMR, driven by unparalleled infrastructure growth and connectivity. The success of Ashar IT Park is a testament to the increasing demand for premium IT/ ITES office spaces in well-connected locations. We are committed to launching 1.5 to 2 million sqft of prime commercial large offices spaces in Thane next year to meet the aspirations of modern businesses and contribute to the region's economic growth. Adding to the vision, Ayushi Ashar, Director of Ashar Group, shared: Ashar IT Park represents the future of workspaces, blending strategic location, contemporary design, and sustainable infrastructure. The response we’ve received underscores the trust investors place in Ashar Group and highlights the growing demand for smart, high-yield commercial properties”. Ashar IT Park, situated in the dynamic Wagle Estate area, offers state-of-the-art infrastructure tailored and offering the biggest floor plate and the biggest campus in Wagle Estate, Thane, to modern business needs, reinforcing its appeal as a prime investment and operational destination. The rapid sales pace reflects not just the project's intrinsic value but also the rising prominence of Thane as a preferred destination for IT/ITES commercial enterprises. With this momentum, Ashar Group continues to spearhead transformative developments across MMR, reinforcing its legacy of excellence and innovation in real estate.

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