Sobha launches new project in Bengaluru; Ashiana Housing to develop housing project in Pune

Real Estate developer Sobha Limited on Monday unveiled Sobha Townpark in Bengaluru. Separately, Realty firm Ashiana Housing on Monday said it will develop a 12-acre housing project for senior citizens in Pune.

''SOBHA Townpark is an integrated township located in Yadavanahalli, a promising location in South Bengaluru that offers serene yet connected living. Sprawling across lush open spaces, SOBHA Townpark is a first-of-its-kind luxury residential township in Bengaluru, themed on the architectural footsteps of New York,'' Sobha said in an exchange filing.

Speaking on the announcement, Ravi Menon, Chairman, SOBHA Ltd. said, “With SOBHA Townpark, we have re-imagined the architectural brilliance of New York through iconic residential towers, a glitzy shopping mall and top-of-the-line amenities.”

Shares of Sobha Ltd were trading around 2% higher at ₹510.65 per share in Tuesday's early deals on the BSE.

In a regulatory filing, Ashiana Housing informed that the company has "entered into development agreement for developing a residential project in Pune on revenue sharing basis". Elaborating more details, Ashiana Housing said the total size of the land size is 11.93 acres, located in Mouje Varale, Taluka Mawal, District Pune (Maharashtra).

The total saleable area in the project is about 8,95,000 sq ft. The company, however, did not name the company or land owner with whom it has signed development agreement.

Ashiana Housing shares were trading at around ₹138 apiece, up over 3.5% on the BSE in Tuesday's early session.