Ashiana Launches Phase 2 of Senior Living Project in Chennai

Ashiana Housing Ltd, a property developer, unveiled phase two of its senior housing project, Ashiana Vatsalya, on a 2.73-acre site in Chennai.

The project phase includes 1BHK, 2BHK, and 3BHK apartments starting at Rs. 75 lakh and topping at Rs. 1.61 crore with a possession target of July 2028, the company reported to the exchange.

There are 1,114 homes planned for the total project, however as of now, there are 430 homes available for Phase 2. In addition, end users as well as, investors interested in community-branded senior living investors have been informed that there is life in the project.

Key Highlights

• Ashiana Housing launches Phase 2 of its senior living project, Ashiana Vatsalya, in Chennai with 1BHK–3BHK homes starting at Rs. 75 lakh.
• The Rs. 425 crore expansion strengthens Ashiana’s senior housing portfolio across Chennai, Mumbai, Bengaluru, and Delhi-NCR.
• Located near Kolavai Lake, Phase 2 features lake-view homes, a 42,000 sq. ft. clubhouse, and 40+ lifestyle amenities for active senior living.

Ashiana plans to spend Rs. 425 crore on FY2025–26 on its senior living portfolio, in Mumbai, Bengaluru, and the Delhi-NCR area. They specified spend would be for landowner payments, construction costs, execution and other costs associated with the whole project.

The project in Chennai is located at Kolavai Lake, with approximately 66 percent of the homes in the second phase offering lake view orientations. The project will also have a 42,000 sq. ft. clubhouse, 6.29 acres of landscaped park area and over 40 lifestyle and sports amenities.

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The company affirmed it has delivered sales of Rs. 167 crore in revenue in Phase 1, with 205 of 258 units having already sold. For Phase 2, Ashiana has already received 28 queries for interest.

Ashiana Housing's portfolio sits with 55+ projects, which consists of four categories of separate living spaces: senior living, premium, elite and kid centric homes. Ashiana operates in eight cities across India and has constructed and delivered more than 23 million square feet of space for more than 19,000 families.

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“Senior living is about creating spaces that empower seniors to live independently while enjoying a vibrant social life and a sense of belonging,” said Ankur Gupta, joint managing director, Ashiana Housing Ltd.

“The encouraging response to Phase 1 and growing interest in Phase 2 reaffirm that seniors and their families are increasingly looking for well-planned homes that truly understand their needs.”