Ashiana Housing has proposed to acquire certain land admeasuring approximately 22.1 acres, situated in the revenue estate of village Wazirpur, in Sector- 93, Gurgaon Manesar Urban Complex, Gurgaon, Haryana (Project Land).
In relation to such proposed acquisition of the Project Land, the sellers of the Project Land have obtained the in-principal approval required from the Director of Town and Country Planning, Haryana (DTCP) in relation to: transfer of the license in respect of such Project Land; and change in developer of the Project Land.
Subject to regulatory clearances, the company expects to complete the acquisition of the Project Land and obtain final transfer of license and change in developer in favour of Ashiana Housing in the first quarter of Financial year ended 2022. The company plans to issue Non- Convertible Debentures (NCDs) to partly fund the project, including the acquisition of the Project Land.
Ashiana Housing is a real estate development company. It is engaged in building residential and commercial projects. The firm also offers retirement resorts, group housing, hotels, retail and facility management.
