Ashiana Housing acquires 23-acre Chennai land for senior living project, eyes ₹1,200 crore revenue

Ashiana Housing Ltd has acquired 22.71 acres of land in Chennai’s Mahindra World City to develop a large-scale senior living housing project with an estimated revenue potential of ₹1,200 crore. The land parcel, purchased from Mahindra World City Developers Ltd- a subsidiary of Mahindra Lifespace Developers, offers a saleable potential of around 15 lakh sq ft.

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The new project, according to media reports, will be developed adjacent to Ashiana’s existing senior living community, “Ashiana Vatsalya,” and will feature villas and apartments aimed at strengthening the company’s leadership in the senior housing segment.

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The company has earmarked ₹425 crore in FY2025–26 for expanding its senior living portfolio, including payouts to landowners, construction, and execution costs. Ashiana also plans to enter new markets such as Mumbai, Bengaluru, and Delhi-NCR.

Currently, Ashiana Housing operates nine senior living projects across Bhiwadi, Chennai, Jaipur, Pune, and Lavasa. It aims to launch five new phases covering 5.71 lakh sq ft this fiscal, against 5.38 lakh sq ft developed last year.

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Senior living now contributes more than 30% of Ashiana’s residential portfolio. In FY2024–25, the company recorded a booking value of ₹382 crore from the segment and is targeting ₹450 crore this year.