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Ashiana Housing plans ₹450cr residential units

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As Covid-19 shifts demand to housing with special facilities, Ashiana Housing plans to invest Rs 450 crore to develop senior housing units and children-oriented housing units in all cities across the country. Apart from some middle-income residential projects in second-tier cities, the company also plans to add projects in Chennai, Pune, Bhiwadi and Gurgaon. Joint managing director Ankur Gupta said the company will launch 3,500 units to meet emerging demand scenarios in these segments. The developer will add two more projects in Chennai, a joint venture in Pune is already in place and another project is currently under construction in Bhiwadi. Overall, the company expects to begin construction on 16 to 1.8 million square feet in 2022, with a focus on senior living, with ready stock available within five years. According to real estate experts, non-traditional forms of real estate wealth such as data centers, healthcare, life science schools, senior housing, co-living and college housing are becoming more popular.

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