India’s famous Realty firm Ashiana Housing will be investing Rs 275 crore in order to develop a housing project in Pune for senior citizens.
Ashiana Housing which is based in Delhi announcing the project said, it has launched a joint venture project, Ashiana Amodh Senior Living in Talegaon locality of Pune.
Funding for the project is said to be generated from internal accruals and construction finance. The company aims to target customers ranging from age 55 and above. The first phase shall comprise of 220 units and will be sold at a price range of Rs 57 lakh to Rs 1.27 crore.
The development of the first phase of the project includes land worth Rs 25.11 crore, construction of Rs 52.38 crore and other expenditures worth Rs 16.36 crore.
Ankur Gupta, Joint Managing Director of Ashiana Housing said, “Recognizing the shifting societal norms, the acceptance of senior living is gaining traction, resulting in steady growth within the sector. In this era, we understand that retirees require ample space to spend their time freely and peacefully.”
He also laid emphasis on the top notch healthcare infrastructure and services available in Pune along with the climatic conditions of the city which shall be favorable for the senior citizens.
The delivery of the first phase of the housing project is scheduled for October 2026.
