Suresh Bhandari, president, ASHA 2022, said, "Our first project will not only be lowest in price but also one with the best of quality and amenities. The complex will have clubhouse, parks, primary school, shops and lots of other amenities to provide a comfortable lifestyle to its residents".
Essel Group, a leading diversified business conglomerate with market capitalisation of over $6 billion, has launched its first real estate project under the brand ASHA 2022 for the tri-city region Chandigarh in Panchkula, Haryana. This initiative, the company said, is aligned with Prime Minister Narendra Modi's vision of 'Housing for All by 2022'.
Suresh Bhandari, president, ASHA 2022, said, "Our first project will not only be lowest in price but also one with the best of quality and amenities. The complex will have clubhouse, parks, primary school, shops and lots of other amenities to provide a comfortable lifestyle to its residents".
Strategically designed to address the large and value driven home ownership market in India, Asha 2022 spreads over 10 acre and will be home to around 800 families. The development consists of 2- and 3-BHK apartments with sizes from 1,060 square feet to 1,345 square feet priced Rs 16 to 20 lakh onwards. Asha Panchkula is being launched at price of Rs 1,521 per sq ft. "This is even lower than the rates offered by projects under the affordable housing scheme of the state government," company said in a statement.
To ensure speedy execution and lower costs for its projects, the company has made significant investments in innovations and is looking at Canadian and Japanese construction technologies to build a cost-effective and innovative approach for affordable, durable and speedy construction.
The company has tied up with State Bank of India (SBI) to reach out to the right customers. The application forms will be available for sale at State Bank of India branches in Chandigarh, Haryana, Punjab, Himachal Pradesh and Delhi and will available till March 5, 2016.
The development will be designed to fulfill all the essential requirements of the customers with adequate resident and visitor parking, secure gated complex, school and shops to amenities like power backup for individual apartments, balcony with every room and a fully equipped clubhouse with gym and swimming pool. It will also provide sports areas such as tennis and badminton court along with meditation and yoga gardens. Asha Panchkula also promotes green living with features such as rain-water harvesting, sewage treatment plant and large green areas.
The group aims to revolutionise the residential real estate industry by making 2 lakh homes available by 2022 and making quality housing accessible to a wider cross-section of people. The first phase will witness launches in key locations primarily Rohtak, Bahadurgarh and Hisar. Currently, urban India has an estimated 19 million families either living in low income neighbourhoods on rent and this housing deficit is likely to rise to 38 million by 2030.
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