In 2014, a new government came to the center and launched “Housing for All by 2022” initiative. Essel Group found it to be the right opportunity to create an impression in the real estate sector and launched its own ASHA 2022 initiative which is a series of housing projects with the aim of providing 2 Lac quality homes at affordable prices by the year 2022. The first in this series of projects has already been launched in Panchkula. Bahadurgarh and Rohtak are next in line.
However, the ambition of the group in this sector is to provide credible brands and offerings across the spectrum of customers from middle-income groups to ultra-HNIs and across verticals such as offices, shops and residences. In line with this, the group has also picked up land for project development in such envious locations as Connaught Place, Worli CBD, Jubilee Hills etc. The group intends to provide housing options starting from as low as 25,000 USD and going up to 10 mn USD per units in tier-1, 2 and 3 cities across India. Over the next 5 year period the venture will aim at clocking a cumulative turnover of INR 5000 Cr.
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