Ashiana Housing Limited Terminates Lease Agreement for Jaipur Group Housing Project
Ashiana Housing Limited has announced the termination of its agreement to lease a land parcel in Jaipur, Rajasthan. The company mutually decided to discontinue the lease agreement with Mahindra World City (Jaipur) Limited (MWC).Previously, Ashiana Housing Limited had entered into the agreement to lease the land parcel on October 30, 2024. The deal involved acquiring a tract of land measuring approximately 20 acres on a long lease basis. The location of the land is within the Social Infrastructure Zone of Mahindra World City, Jaipur, and the original plan was to use the site to develop a group housing project.
The cancellation of the lease agreement was attributed to the inability to secure necessary approvals from MWC. The company confirmed that the termination was a mutual decision following the non-visibility of the required MWC approvals.
For reference, the material details of the original land acquisition agreement are summarized below:
| Aspect | Detail |
|---|---|
| Partner | Mahindra World City (Jaipur) Limited (MWC) |
| Agreement Date | October 30, 2024 |
| Land Size | Approximately 20 acres |
| Location | Social Infrastructure Zone, Mahindra World City, Jaipur (Rajasthan) |
| Purpose | Development of a group housing project |
ASHIANA Stock Price Movement
As of 11:14 AM, shares of Ashiana Housing Limited are slipping by 0.95% in live trading, currently at ₹353.50. The stock is witnessing active mid-day selling, with trading volume tracking at 16,133 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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