Essel Group launches its first real estate project in Panchkula

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 announced the launch of its first real estate project under the brand ASHA 2022, for the Tri-City region Chandigarh in Panchkula, Haryana. This initiative is aligned with Prime Minister Narendra Modi’s Vision of ‘Housing for All by 2022’. Asha 2022 is strategically designed to address the large and value driven home ownership market in India. Spread over 10 acres, the project will be home to around 800 families. The development consists of 2 and 3 BHK apartments with sizes ranging from 1060sq. ft. to 1345 sq. ft. priced from Rs 16 to 20 Lakhs onwards. Asha Panchkula is being launched at a never heard before price of only Rs. 1521/- per sq ft BSP. This is even lower than the rates offered by projects under the affordable housing scheme of the state government. 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”. ASHA Panchkula 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 in the apartments 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 Company has also invested in innovations to ensure speedy execution and lower costs for its projects. It is actively looking at Canadian and Japanese construction technologies to build a cost effective and innovative approach for affordable, durable and speedy construction. For the ease of providing finance schemes to our customers, the Company has tied up with State Bank of India to reach out to the right customers and meet their home finance requirements. To make sure that the application forms are accessible to millions of people in North India, the company has tied up with State Bank of India for sale of its application form at all its branches in Chandigarh, Haryana, Punjab, Himachal Pradesh and Delhi. The forms are available at these locations till 5th March, 2016. 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. 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 neighborhoods on rent and this housing deficit is likely to rise to 38 million by 2030.