Paranjape Schemes Announces Partnership with India Housing and Unity Bank

In a significant stride toward sustainable urban growth, Paranjape Schemes has partnered with India Housing For All (AIF) and Unity Small Finance Bank to finance and develop Ananda Athashri, a senior living community in Varve, Pune.

• Paranjape Schemes partners with India Housing For All & Unity Bank for a senior living project in Pune

• Early financial closure achieved through innovative RBI-compliant funding

• Homes are priced 50 percent lower than comparable urban senior living facilities

Ranjan Ghosh, President of Unity Small Finance Bank, highlighted the innovative funding approach within RBI regulations that enabled early financial closure for this esteemed developer, known for delivering thematic senior living homes for over 25 years.

Shrikant Paranjape, Promoter of Ananda Senior Living, expressed enthusiasm about the collaboration, emphasizing the project’s role in addressing India’s growing senior population, projected to reach 231 million by 2050, and the company's 25-year track record of developing 4,000-plus homes.

Deep Sen, CEO of India Housing For All, shared that this partnership aims to deliver 1 million affordable middle-income homes by 2035, starting with Pune and Mumbai, aligning with national development goals.

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The project’s first phase, part of the 40-acre Happiness Hub township, will host over 8,500 residents, including 500 dedicated senior living units. Ananda Athashri offers a tranquil, community-focused environment with spiritual spaces, wellness zones, green infrastructure, and affordability homes priced 50 percent lower than comparable urban senior living options.

Inspired by India’s spiritual legacy, the community features a miniature Char Dham-inspired temple, meditation areas, lounges, a library, and communal dining, creating a serene retreat that balances tradition with modern comfort. This collaboration marks a foundational step toward developing climate-resilient, affordable senior housing across India’s urban centers.