Ashiana Housing Ltd. Enters Agreements for Land Parcel in Panvel
Ashiana Housing Ltd. announced on March 30, 2026, that it has entered into an Agreement to Sell and an Agreement to Perpetual Lease for a land parcel in Panvel, Maharashtra. The agreements pertain to a parcel previously subject to an earlier perpetual lease agreement with Caroa Properties LLP, for which an intimation was filed on April 5, 2025.The company now holds an Agreement to Sell for 6.02 acres of land and an Agreement to Perpetual Lease for 1.03 acres of land. Ashiana Housing plans to develop a Senior Living project on the 6.02 acres, with a potential floor space index (FSI) of 700,000 square feet. The 1.03 acres of land has a potential FSI of 5,000 square feet. Both land parcels are adjacent to each other.
The company intends to apply for approvals soon and plans to launch the Senior Living project by the fourth quarter of fiscal year 2027.
According to the agreements, Caroa Properties LLP is the counterparty. The company reports no shareholding in Caroa Properties LLP, and the transaction is not a related party transaction. Furthermore, Caroa Properties LLP is not related to Ashiana Housing's promoters, promoter group, or group companies.
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