Ashiana Housing Ltd has entered into Gujarat real estate market through a revenue share agreement for 10.65 acres of land located in Halol near Vadodara in Gujarat, the company informed in a statement issued on Thursday.
"This 10.65 acres of land in Halol will be utilized to develop a residential colony. The land is currently in the process of receiving the 'Non-Agricultural' clearances for getting Group Housing project on the land. Company plans to receive the requisite clearances in next six months start development thereafter," a filing with the Bombay Stock Exchange (BSE) said.
Over the past few years, rapid industrialization, growth of manufacturing sector and creation of a better social infrastructure has made Gujarat the most attractive destination for real estate, the company informed.
The statement further added that Delhi-Mumbai Industrial Corridor passes though Vadodara and has well established air, rail and road networks.
Halol is home to many large companies such as Sun Pharma, HNG Float Glass, General Motors, SETCO, CEAT, Windar Renewable Energy, Siemens and many others. The land is located 40 kms from Vadodra and 150 kms from Ahmadabad and well connected to key industrial centers such as Ahmadabad, Bharuch and Surat, along NH8.
