Hiranandani Communities to build Rs 300 cr senior living project in Chennai

New Delhi, Nov 11 (PTI) Realty firm Hiranandani Communities will develop a senior living housing project in Chennai with an estimated revenue of Rs 300 crore.

In a statement on Tuesday, the company said it is entering into emerging asset class of senior living. The company has launched a senior living project 'Elements’ at Hiranandani Parks, Oragadam at its township in Chennai.

The project, spread across 4.5 acres, will have 400 units, with a development potential of 1 million square feet. The prices starts from Rs 60 lakh per unit.

"The overall project value is estimated at Rs 300 crore," it added.

The company has partnered with GTB Group to introduce premium senior living in Oragadam, Chennai.

Niranjan Hiranandani, Founder and Chairman, Hiranandani Communities, said, "The development will integrate holistic care, on-site medical assistance, recreational and wellness programmes, assisted living facilities, and hospitality services - enabling residents to lead a secure, dignified, and fulfilling lifestyle within the broader township environment." In the large integrated township, the company has already delivered 1,500 apartments, 55 acres of plotted developments, and 65,000 sq ft of operational retail space.

Hiranandani Communities is also exploring Panvel and Powai as future destinations for senior living, the statement said. PTI MJH MJH ANU ANU