Ashiana Housing Expands Senior Living Portfolio with Major Chennai Acquisition
Ashiana Housing Ltd has taken a big step forward by acquiring 22.71 acres of prime land in Chennai from Mahindra World City Developers Ltd. This acquisition marks a major expansion of the company's senior living portfolio, with a promising revenue potential of Rs 1,200 crore.
Strategic Location and Project Details
The acquired land is located in a strategic spot within Mahindra World City, Chennai, and offers numerous advantages:
- Prime Location: Close to Ashiana's existing senior living community, 'Ashiana Vatsalya'
- Saleable Area: Around 15 lakh square feet of developable space
- Project Type: State-of-the-art senior living development featuring both villas and apartments
- Acquisition Structure: Land acquired on a perpetual lease basis from Mahindra Lifespace Developers' subsidiary
Investment and Expansion Strategy
The company has set out ambitious plans for the upcoming fiscal year. Ashiana Housing plans to invest Rs 425 crore in FY2025-26 specifically for expanding its senior living portfolio. This investment will cover:
- Payouts to landowners
- Construction and execution costs
- Project-related expenses
The developer wants to expand their projects beyond Chennai to metropolitan markets such as Mumbai, Bengaluru, and Delhi-NCR.
Market Position and Performance
Senior living has become increasingly important for Ashiana Housing, now contributing more than 30% of the company's residential portfolio. The segment recorded a booking value of Rs 382 crore in FY2024-25, with the company targeting Rs 450 crore this year.
Currently, Ashiana Housing operates nine ongoing projects across multiple cities, including three in Bhiwadi (NCR), three in Chennai, and individual projects in Jaipur, Pune, and Lavasa. The company aims to launch five new phases covering 5.71 lakh square feet this fiscal year.
This Chennai acquisition strengthens Ashiana Housing's position as a leader in the specialised senior living housing segment while supporting India's growing demand for age-appropriate residential solutions.