Ashiana Housing to invest Rs 560 cr on new residential project in Jaipur

It is listed on stock exchanges. The company specialises in developing homes for senior citizens.

Realty firm Ashiana Housing will invest nearly Rs 560 crore to develop a residential project in Jaipur.

In a statement on Friday, Ashiana Housing said it has launched the first phase of its premium 10.35-acre residential project 'Ashiana Oma'. The company will develop 280 units in the first phase and a total of 490 units in the entire project.

This is a joint venture project with a revenue-sharing arrangement between the company and its development partner.

''The total estimated project cost is Rs 558.60 crore, while the estimated investment for Phase 1 is approximately Rs 186.78 crore,'' the statement said.

Ankur Gupta, Joint Managing Director, Ashiana Housing Ltd, said the project has been designed to cater to end-user customers in Jaipur, where demand for spacious premium residences with integrated lifestyle amenities continues to strengthen.

Delhi-based Ashiana Housing is one of the leading real estate developers in the country. It is listed on stock exchanges. The company specialises in developing homes for senior citizens.