Ashiana Housing emerges as the highest bidder (H1) in an e-auction organized by Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) for the allotment of 43,708 sq. mtrs. of land for residential project in Manesar (Gurugram). This land located at Naurangpur Road, Sector 80, Gurgaon-122004, would be utilized for the group housing project and has approximate saleable area of 10.30 lakh sq. ft.
The total consideration for the land is Rs. 197.04 Crores approximately + Stamp duty. The flow of consideration will be as follows upon the execution of below mentioned documents for purchase of land:
a. 10% payment by 30th March 2023 upon execution of Letter of Intent (LOI).
b. Next 15% upon execution of Definitive Agreement and receipt of Allotment Letter by 30th April 2023.
c. Remaining 75% consideration by 30th April 2024. Conveyance Deed to be executed within 3 months
of payment of entire consideration i.e. by 30th July 2024 as per the terms of the bid
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