Ashiana Housing and Arihant Foundations to invest Rs 2.25 Bn

14 Aug 2024 CW Team

Ashiana Housing announced that they have partnered with Arihant Foundations & Housing to develop a residential project named Swarang, spanning 10.87 acres of land in Nemmeli, Chennai. The joint venture will operate on a profit-sharing basis, with the companies planning to invest approximately Rs 2.25 billion in the project, which is expected to generate sales revenue of Rs 4.50 billion.

The project is anticipated to be completed within six years, with the first phase set for completion by September 2027. In this initial phase, the company will develop 134 units. Ankur Gupta, joint managing director of Ashiana Housing, expressed enthusiasm about launching their ninth senior housing project in India and third in Chennai.

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