The company is likely to utilise the 10.65-acre land parcel to develop a residential group housing project. On the concept of group housing, Ankur Gupta, joint managing director of Ashiana Housing Ltd, said, “Group housing projects are becoming popular in India due to limited availability of land and natural resource. In my opinion group housing is the only answer to accommodate India’s growing working population and their families.”
At present, the aforementioned land parcel in Halol is awaiting the 'non-agricultural' clearances for the group housing project to materialise. Ashiana officials are quite hopeful and expect to receive the requisite clearances in the next 6 months and start the development thereafter.
Why Gujarat
Improving infrastructural facilities and rapid industrialisation has made Gujarat a lucrative destination for builders to invest in. However, the state property market, Ahmedabad in particular, is experiencing a slowdown over the last few months, as demand has slumped considerably. In order to sustain business volume, developers are likely to resort to price cuts or at least keep them stable. Some builders have started offering discounts to lure buyers.
Expressing delight over the company’s foray into Gujarat property market, Varun Gupta, director at Ashiana Housing Ltd said that a combination of factors including industrial boom, growth of manufacturing sector and better social infrastructure have driven Ashiana into the state. In addition, the proposed Delhi-Mumbai Industrial Corridor passes though Vadodara and has well established air, rail and road networks, he added.
Halol is home to many large companies and is well connected to key industrial centres such as Ahmedabad, Bharuch and Surat, along NH-8.
Jeeta Bandopadhyay |
New Delhi-based developer Ashiana Housing Ltd has recently announced its foray into Gujarat. The company informed that it has entered the state real estate market through a revenue share agreement for 10.65 acres of land located in Halol near Vadodara. 
