NEW DELHI: Ashiana Housing plans to invest Rs 400 crore to develop a residential project-Ashiana Vatsalya for senior citizens in Chennai. This is company’s eighth senior housing project in the country and its second senior housing project in Chennai.
“The investment for Ashiana Vatsalya is primarily funded through internal resources, supplemented by a loan of 8-10%,” said Ankur Gupta, joint managing director of the company.
Spanning across 17.9 acres land, the project is located inside Mahindra World City. The land for the project is held under perpetual lease.
The entire project will be constructed in eight years and will be delivered in five phases, each to be completed in approximately 2 to 2.5 years. A total of 258 units are available in the first phase.
