<?xml version="1.0" encoding="UTF-8"?>
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2023-05-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-type="https://www.sebi.gov.in/xbrl/2023-05-31/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink">
<link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2023-05-31.xsd"/>

<xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><xbrli:unit id="shares"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit><xbrli:unit id="INRPerShare"><xbrli:divide><xbrli:unitNumerator><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unitNumerator><xbrli:unitDenominator><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unitDenominator></xbrli:divide></xbrli:unit>
<in-capmkt:NSESymbol contextRef="OneI">ASHIANA</in-capmkt:NSESymbol>
<in-capmkt:NameOfTheCompany contextRef="OneI">ASHIANA HOUSING LIMITED</in-capmkt:NameOfTheCompany>
<in-capmkt:ISIN contextRef="OneI">INE365D01021</in-capmkt:ISIN>
<in-capmkt:TypeOfMeeting contextRef="OneI">Board Meeting</in-capmkt:TypeOfMeeting>
<in-capmkt:TypeOfIntimation contextRef="OneD">New</in-capmkt:TypeOfIntimation>
<in-capmkt:DateOfProposedMeeting contextRef="OneD">2026-02-06</in-capmkt:DateOfProposedMeeting>
<in-capmkt:WhetherTradingWindowIsClosed contextRef="OneD">Yes</in-capmkt:WhetherTradingWindowIsClosed>
<in-capmkt:DateOfStartOfTradingWindowClosure contextRef="OneI">2026-01-01</in-capmkt:DateOfStartOfTradingWindowClosure>
<in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure contextRef="OneI">2026-02-08</in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure>
<in-capmkt:Agenda1 contextRef="OneD">Financial results</in-capmkt:Agenda1>
<in-capmkt:Agenda2 contextRef="OneD">Dividend</in-capmkt:Agenda2>
<in-capmkt:WhetherResultsAreAuditedOrUnaudited contextRef="OneD">Unaudited</in-capmkt:WhetherResultsAreAuditedOrUnaudited>
<in-capmkt:NatureOfReportStandaloneConsolidated contextRef="OneD">Standalone And Consolidated</in-capmkt:NatureOfReportStandaloneConsolidated>
<in-capmkt:ReportingPeriodType contextRef="OneD">Quarterly</in-capmkt:ReportingPeriodType>
<in-capmkt:MonthOfPeriodEnded contextRef="OneD">December</in-capmkt:MonthOfPeriodEnded>
<in-capmkt:YearOfPeriodEnded contextRef="OneI" unitRef="INR" decimals="0">2025</in-capmkt:YearOfPeriodEnded>
<in-capmkt:TypeOfDividend contextRef="OneD">Interim</in-capmkt:TypeOfDividend>
<in-capmkt:RemarksWebsiteDissemination contextRef="OneI">Apart from transacting other routine items, to consider and approve the unaudited quarterly financial results for  the quarter ending 31st December 2025 and the declaration of Interim Dividend for the Financial Year ending 31st March 2026</in-capmkt:RemarksWebsiteDissemination>
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