Ashiana Housing Ltd. has informed the Bombay Stock Exchange (BSE) that the company is all set to enter the real estate market of Gujarat through a revenue share agreement for 10.65 acres of land situated in Halol.
There are various factors which make Gujarat, the most attractive destination for real estate. Such factors include growth of manufacturing sector, rapid industrialization and creation of a better social infrastructure. Also the industrial transport for this purpose is not a major issue as the Delhi- Mumbai Industrial Corridor passes through Vadodra and has well established links through air, rail and road networks. Also Halol is a city where many large companies are based which includes Sun Pharma, General Motors, CEAT, HNG Float Glass, Siemens and Windar Renewable Energy. It is located about 40 kilometers from Ahmedabad and is well linked with other industrial centers such as Bharuch and Surat.
The proposed land measuring 10.65 lakh will be used for developing a residential colony. Currently the land is under the process of receiving “Non Agricultural” clearances for the development of group housing project on the land. The company aims to receive all the required permissions in the next six months after which it can start developing the land.
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