ASHIANA HOUSING AND ARIHANT UNITE TO LAUNCH SWARANG

A state-of-the-art sophisticated senior Living Destination in Chennai

Chennai, 13th August 2024: Ashiana Housing Limited (NSE/BSE Listed) has partnered with Arihant Foundations & Housing Ltd. to introduce Swarang, a state-of-the-art sophisticated senior living project in Chennai. This venture marks Ashiana's third senior living project in the city, reflecting the increasing demand for premium senior housing options in Chennai.

Spanning 10.87 acres in the scenic Nemmeli area of Chennai’s beautiful and upscale resort destination, where the backwaters meet the sea, the upcoming premium project is strategically located on East Coast Road (ECR), near the renowned Sheraton Resort. The ECR in Chennai is a picturesque stretch of road that runs along the coast of the Bay of Bengal, offering breathtaking views of the ocean and surrounding landscape. The road winds its way through a mix of urban and natural environments, passing by bustling beaches, and lush green forests.

Delightful in every sense, the sophisticated senior living is meticulously crafted to provide a vibrant and luxurious lifestyle for those looking to celebrate life after retirement. With its prime location, modern amenities, and the trusted reputation of Ashiana, Swarang is set to redefine the post-retirement sophisticated living experience. The homes are elegantly designed by famed architects, with ample ventilation and an abundance of natural light, ensuring a comfortable and secure environment. The landscape architecture for Swarang has been done by the well-known Savita Punde, and the green spaces are exceptionally exclusive. Surrounded by lush greenery and located near the sea, the community offers a serene and tranquil atmosphere. Thoughtful safety features such as rounded corners, diffused lighting, and discreet handrails further enhance the living experience, making Swarang an ideal place to enjoy a fulfilling and worry-free retirement.

This sophisticated project stands out for its extensive range of amenities, including sports facilities like walking football, pickleball, tennikoit, croquet, and aqua therapy. A fully equipped gym, a place of worship, and regular social events contribute to a vibrant community life. With 24/7 security, an app-based gate management system, CCTV cameras, and an Emergency Response System, Swarang ensures the safety and well-being of its residents.

The development will offer a select number of exclusive units, including 1 BHK, 2 BHK, and 3 BHK options, ranging from 912 to 1462 square feet, as well as luxurious Penthouses. The price range for these units is as follows: ₹84 lacs - 1.009 Cr for 1 BHK, ₹1.22 Cr - 1.46 Cr for 2 BHK, ₹1.55 Cr - 1.75 Cr for 3 BHK, and ₹2.08 Cr for 2 BHK penthouses. Designed as a low-rise, low-density project and ensures privacy and sophisticated luxury living. The project is expected to be completed in phases, with the first phase scheduled for completion by September 2027, as per RERA regulations.

Addressing a press conference, Mr. Ankur Gupta, Joint Managing Director of Ashiana Housing Ltd., expressed enthusiasm for the project, stating, "We are excited to launch our ninth senior housing project in India and third in Chennai. Swarang, a sophisticated property with its unique features and prime location in Nemmeli, where the backwaters meet the sea, is set to meet the growing needs of Chennai's senior community with a luxury of sophisticated living "

Mr. Bharat Jain, Director of Arihant Foundations & Housing Ltd., added, "The launch of Swarang is a significant milestone in our collaboration with Ashiana Housing. We are dedicated to addressing the rising demand for high-quality senior living communities in Chennai."

India's senior population is projected to grow substantially, with estimates predicting an increase from 150 million to 230 million over the next 10-12 years. By 2050, India is expected to be home to 340 million seniors, constituting around 17% of the global elderly population. This demographic shift underscores the need for comprehensive senior living solutions.

Chennai has become a key hub for senior living projects, contributing about 74% to the organized assisted living segment in southern India. The city, along with Bengaluru and Coimbatore, plays a crucial role in meeting this demand, driven by factors such as higher affordability, the growing acceptance of nuclear family structures, and the availability of trained healthcare staff.

The construction of Swarang is expected to be completed within six years. The project’s unique features and strategic location within a well-developed community are anticipated to generate significant interest from prospective buyers, further solidifying Ashiana's commitment to creating valuable and sustainable sophisticated living spaces for seniors.

Ashiana Housing has been recognized as India’s No. 1 Senior Living Community by Track2 Realty and is the largest senior living project chain in the country, with over 2,500 seniors enjoying life across Bhiwadi (Delhi-NCR), Chennai, Lavasa and Pune. In the financial year 2023-24, the company achieved a revenue of ₹1,800 crore and is expected to reach ₹2,000 crore in the current financial year.

About Ashiana Housing  

About Ashiana Housing Established in 1979 and headquartered in New Delhi, Ashiana Housing Ltd. is a leading Indian real estate development company, consistently ranked No. 1 in the senior living space for 8th consecutive years. With over 50 projects across Senior Living, Premium Homes, and Kid-Centric Homes, Ashiana has a strong presence in nine cities across India, having delivered over 23 million square feet and served more than 15,000 happy families. The company manages and maintains over 19 million square feet under a lifetime service contract, demonstrating the trust and confidence in its high-quality construction.

About Arihant Foundation & Housing Limited 

Arihant has left an indelible mark on the urban landscape of Chennai, crafting iconic landmarks for over 30 years. We seek the most memorable locations for our residential and commercial developments. Our bespoke homes are located on the tranquil streets and are designed for families who look for a fine balance of growth and well-being. Arihant’s new-age office spaces span across Chennai in locations where the business energy thrives. We seamlessly bring together technology, valuable associations, and meticulous craftsmanship to shape the Chennai of tomorrow.