Ashiana Housing Ltd has acquired 22.71 acres of land in Mahindra World City, Chennai, to develop a large-scale senior living project with a revenue potential of ₹1,200 crore.

The planned development, adjacent to its existing “Ashiana Vatsalya” community, will include villas and apartments spread across 15 lakh sq ft, further cementing the company’s position as a leader in the senior living housing segment.

The company plans to develop a state-of-the-art senior living project comprising villas and apartments, further strengthening its leadership in the senior living housing segment.

The company plans to invest ₹425 crore in FY2025–26 to expand its senior living portfolio, with a focus on entering key markets such as Mumbai, Bengaluru, and Delhi-NCR. In a regulatory filing, the company said the outlay will cover payouts to landowners, construction, execution costs, and other project-related expenses.

Currently, Ashiana has nine ongoing senior living projects, three in Bhiwadi (NCR), three in Chennai, and one each in Jaipur, Pune, and Lavasa. It plans to launch five new phases across existing projects this fiscal, covering approximately 5.71 lakh sq ft of saleable area. Last year, it constructed about 5.38 lakh sq ft and invested ₹213 crore in the segment.

The company recorded a booking value of ₹382 crore from senior living in FY2024–25 and is targeting ₹450 crore this year. Senior living now contributes over 30% of Ashiana’s residential portfolio.

In FY2024–25, outlay incurred by the company was ₹213 crore towards senior living, and the company also recorded a booking value of ₹382 crore.