Ashiana Housing Acquires 23-Acre Land in Chennai for Rs 1,200 Crore Senior Living Project
Ashiana Housing, a prominent real estate developer, has acquired 23 acres of land in Chennai to develop a senior living housing project with a revenue potential of Rs 1,200 crore. The project, adjacent to their existing 'Ashiana Vatsalya' development, is expected to boost the company's footprint in the region.
Real EstateSenior LivingAshiana HousingChennaiLand AcquisitionReal Estate MumbaiAug 28, 2025
In a regulatory filing, the company announced that it has acquired a piece of land measuring 22.71 acres on a perpetual lease basis from Mahindra World City Developers Ltd, a material subsidiary of Mahindra Lifespace Developers Ltd. The land is located within the Mahindra World City complex in Chennai, Tamil Nadu.
The company plans to develop a senior living project, which will include both villas and apartments. This new land is adjacent to their existing senior living project, 'Ashiana Vatsalya,' and is expected to have a saleable area of approximately 15 lakh square feet. The project's sales potential is estimated at Rs 1,200 crore, a significant addition to Ashiana Housing's portfolio.
Ashiana Housing currently has nine ongoing projects across various cities, including three in Bhiwadi (NCR), three in Chennai, and one each in Jaipur, Pune, and Lavasa (Pune). With this new acquisition, the company is now looking to expand its footprint into Bengaluru and Mumbai.
The recent financial performance of Ashiana Housing is also noteworthy. The company's sales bookings rose by 83 percent to Rs 430.97 crore in the first quarter of the current fiscal year, driven by higher demand. In the same period last year, sales bookings stood at Rs 235.32 crore.
In the April-June period of this fiscal, Ashiana Housing sold 5.95 lakh square feet of properties, compared to 4.42 lakh square feet in the corresponding period of the previous year. Over the entire 2024-25 fiscal, the company sold properties worth Rs 1,936.75 crore, showcasing its strong market presence and growth trajectory.
Delhi-based Ashiana Housing is one of the leading real estate developers in the country, known for its high-quality projects and customer-centric approach. The new senior living project in Chennai is expected to further solidify the company's position in the real estate market and cater to the growing demand for senior living solutions.
Frequently Asked Questions
What is the size of the land acquired by Ashiana Housing in Chennai?
Ashiana Housing has acquired 22.71 acres of land in Chennai.
What is the expected revenue potential from the senior living project in Chennai?
The senior living project is expected to generate a revenue potential of Rs 1,200 crore.
Where is the land located within Chennai?
The land is located within the Mahindra World City complex in Chennai, Tamil Nadu.
How many ongoing projects does Ashiana Housing currently have?
Ashiana Housing currently has nine ongoing projects across various cities, including Bhiwadi, Chennai, Jaipur, Pune, and Lavasa.
What was the percentage increase in sales bookings for Ashiana Housing in the first quarter of the current fiscal year?
Ashiana Housing's sales bookings increased by 83 percent to Rs 430.97 crore in the first quarter of the current fiscal year.
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