Ashiana Housing Ltd has acquired 22.71 acres of land in Chennai, marking a significant expansion in its senior living housing portfolio. The land, located within Mahindra World City and obtained from Mahindra World City Developers Ltd, a subsidiary of Mahindra Lifespace Developers Ltd, offers a saleable potential of approximately 15 lakh sq ft. The project is expected to generate revenue of around ₹1,200 crore.
The newly acquired parcel is strategically adjacent to Ashiana Housing’s existing senior living community, Ashiana Vatsalya. This proximity allows the company to leverage its ongoing infrastructure and enhance its footprint in Chennai’s senior living segment. The company has announced plans to develop villas and apartments within the site, positioning it as a high-capacity, state-of-the-art senior housing community.
Ashiana Housing has outlined a capital outlay of ₹425 crore for FY2025–26 to expand its senior living projects. The investment will cover land acquisition payouts, construction, execution, and other project-related expenses. The company intends to use this expansion to strengthen its presence in key urban markets, including Mumbai, Bengaluru, and Delhi-NCR.
Currently, Ashiana Housing operates nine ongoing senior living projects across India, including three in Bhiwadi (NCR), three in Chennai, and one each in Jaipur, Pune, and Lavasa. In the current fiscal year, the company plans to launch five new phases in existing projects, adding around 5.71 lakh sq ft of saleable area. For context, the company completed approximately 5.38 lakh sq ft last year with an investment of ₹213 crore in the segment.
Senior living now accounts for over 30% of Ashiana Housing’s residential portfolio. In FY2024–25, the company recorded a booking value of ₹382 crore in senior living, and it is targeting ₹450 crore in the current fiscal year. This focus underscores the growing demand for purpose-built housing solutions catering specifically to seniors, particularly in urban and semi-urban regions.
The Chennai acquisition represents a strategic push for Ashiana Housing to consolidate its leadership in the senior living sector. By leveraging prime land within Mahindra World City, the company aims to develop a community that integrates modern design, accessibility, and facilities tailored to the lifestyle and healthcare needs of senior residents.
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