Ashiana Housing Limited has informed the Exchange about Cancellation of Agreement to Lease entered into with Mahindra World City (MWC) for new Project in Jaipur (Rajasthan)
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Ashiana Housing Limited has mutually terminated its agreement to lease a 20-acre land parcel from Mahindra World City (Jaipur) Limited. The land, located in the Social Infrastructure Zone of Mahindra World City, Jaipur, was intended for developing a group housing project. The agreement, originally signed on 30th October 2024, has been cancelled due to non-visibility of approvals required to be obtained by MWC. This termination ends Ashiana's planned expansion into this new development project in Jaipur.
This cancellation represents a setback to Ashiana's growth pipeline as the company loses a planned 20-acre group housing project opportunity. The cancellation due to pending approvals from MWC suggests uncertainty around land development in that zone, which could impact future project launches and revenue visibility for the company.