Essel Group, a leading business conglomerate having diverse business presence across entertainment, packaging, infrastructure & integrated utilities, education, precious metals, media, and the technology sector with market capitalization of over USD 6 billion has today announced its foray in real estate sector with Asha 2022.
Keeping in line with Prime Minister Narendra Modi's dream of Housing for All by 2022, the group aims to revolutionize 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. In order to instill confidence in customers, the company endeavors to build compliance towards anticipated regulations in real estate sector.
The first project to be launched soon in Panchkula would be between the price range of Rs. 15-25 lakhs.
Commenting on the launch Dr. Subhash Chandra said "Essel Group has always worked towards providing access to basic services for the betterment of the society. With the launch of Asha 2022, we are committed to provide 2 lakh homes to support PM's vision of 'Housing for All'. Our endeavor is to bring about a revolution in real estate development".
He further added "The Company plans to invest Rs.800 crore in the first phase of its operation which will cover North India. The proposed projects are in Panchkula, Hisar, Bahadurgarh, and Rohtak".
Addressing the media Mr. Suresh Bhandari, President, ASHA 2022 said "With ASHA 2022, consumers will get to witness a whole new dimension of the real estate industry. Our project will focus on four broad pillars speedy construction, standardization of design, less margins and timely delivery of the project. ASHA 2022 is our first project strategically designed to address the large and value driven home ownership market in India".
Currently, Urban India has an estimated 19 million families either living in low income neighborhoods on rent and this housing deficit is likely to rise to 38 million by 2030.