Ashiana Housing Limited has informed the Exchange regarding a revised press release dated March 30, 2026, titled "Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015 about entering into an Agreement to Sell and Agreement to Perpetual Lease pertaining to Land Parcel at Panvel (Maharashtra), and cancellation of the earlier Agreement to Perpetual Lease for which intimation filed on 05th April 2025".
ASHIANA · price
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Ashiana Housing has cancelled its earlier perpetual lease agreement (filed on 5 April 2025) with Caroa Properties LLP for a 7-acre land parcel in Panvel, Maharashtra. In its place, the company has entered into two new agreements for the same land: an Agreement to Sell for 6.02 acres and a new Agreement to Perpetual Lease for 1.03 acres. On the 6.02 acres, the company plans to develop a Senior Living project with a buildable potential of around 7 lakh sq. ft., while the remaining 1.03 acres has a much smaller potential of about 5,000 sq. ft. The project is targeted for launch by the fourth quarter of FY27. The transaction is not a related party transaction, and the counterparty has no connection to the promoter group.
This is a positive development for shareholders as the revised structure gives Ashiana outright ownership of the larger 6.02-acre plot, which holds most of the development potential, while retaining flexibility on the smaller leased portion. It strengthens the company's Senior Living pipeline in the Panvel micro-market, though the project is still 1-1.5 years away from launch, so near-term impact on financials will be limited.