Ashiana Housing cancelled its earlier perpetual lease with Caroa Properties LLP for 7-acre Panvel land parcel, replacing it with two new agreements.
New agreements cover an Agreement to Sell for 6.02 acres (7,00,000 sq. ft. FSI potential) and Agreement to Perpetual Lease for 1.03 acres (5,000 sq. ft. potential).
Company plans to launch a Senior Living project at Panvel, Maharashtra by Q4 FY2027, with approvals to be applied for soon.