Ashiana Housing acquires land in Chennai for new senior living project

Ashiana Housing Ltd. announced the acquisition of 22.71 acres of land in Chennai. The land was secured on a perpetual lease from Mahindra World City Developers Ltd., a subsidiary of Mahindra Lifespace Developers Ltd., located within the Mahindra World City complex. This acquisition is strategically adjacent to Ashiana Housing’s existing “Ashiana Vatsalya” senior living project.

The acquired land has a saleable area of approximately 15 lakh sq. ft. The company plans to develop a new senior living project, encompassing both villas and apartments, on this site. This development is projected to have a sales potential of approximately INR 1,200 crores.