NEW DELHI: Ashiana Housing have joined hands with Arihant Foundations & Housing to develop a residential project – Swarang, spread over 10.87 acres of land in Nemmeli, Chennai. The joint venture is a profit-sharing model.
The companies will invest approximately Rs 225 crore in the project and sales realization is estimated to be Rs 450 crore.
The project is expected to be completed within six years, with the first phase scheduled for completion by September 2027. In the first phase the company is developing 134 units, with price ranging from Rs 84 lakh to Rs 2.08 crore.
Ankur Gupta, joint managing director of Ashiana Housing said, “We are excited to launch our ninth senior housing project in India and third in Chennai.”
In the financial year 2023-24, the company achieved a revenue of Rs 1,800 crore and expects to reach Rs 2,000 crore in the current financial year.
