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Paranjape Schemes (Construction) Ltd. has marked 25 years of its senior living platform Athashri, alongside the onboarding of its 6,000th resident in Vadodara. The platform currently operates nearly 16 communities across multiple cities, supporting over 3,000 senior residents. The developer outlined plans to expand its integrated senior living ecosystem through partnerships in healthcare, wellness, emergency support and community engagement. The announcement comes amid rising demand for organised senior housing, driven by demographic shifts, increasing life expectancy and evolving family structures. The company also highlighted policy support under the Maharashtra State Housing Policy 2025, which introduces a dedicated senior living category and concessional stamp duty, signalling stronger institutionalisation of the segment.
Paranjape Schemes (Construction) Ltd. has completed 25 years of its senior living platform Athashri, marking the milestone with the onboarding of its 6,000th resident at its Vadodara community earlier this week. The Pune-based developer stated that the platform has evolved into a structured senior living ecosystem, with close to 16 communities operational across multiple cities and a resident base exceeding 3,000 seniors. Advertisement
The milestone event brought together residents, company leadership and partners, reflecting the scale and continuity of the platform. The programme included addresses by Chairman Shrikant Paranjape and Managing Director Shashank Paranjape, who outlined the journey of Athashri from a niche concept to an established residential format within India’s housing market. Resident-led performances were also organised as part of the event, highlighting the active lifestyle component within these communities.
As part of its forward expansion strategy, the company announced a series of partnerships aimed at strengthening healthcare, wellness and support services within its senior living developments. These include tie-ups with healthcare institutions to provide access to outpatient services, intensive care support, minor operation theatres and emergency response systems, including cardiac ambulance transfers and on-call paramedic services.
In addition, the developer is introducing health monitoring systems equipped with fall detection and real-time tracking of vital parameters, with access extended to both medical professionals and family members. On the wellness front, collaborations with yoga institutions and specialised trainers are being planned to support structured fitness programmes. The ecosystem will also include partnerships with organisations such as FUEL School, Camlin and Origami Mitra, along with concierge services, to facilitate engagement, learning and homecare support for residents.
A felicitation ceremony was held during the event to recognise residents with distinguished professional backgrounds across science, defence, education, healthcare and the arts. Among those honoured were individuals associated with institutions such as BARC, TIFR and IIT Kanpur, as well as recipients of national honours and veterans of the armed forces, reflecting the diverse profile of residents within the Athashri communities.
Shashank Paranjape indicated that the platform was initially conceptualised to provide seniors with independent and community-oriented living environments and has since scaled into a trusted residential offering. He noted that demand for organised senior living is increasing across Tier 2 and Tier 3 cities, including Nashik, Kolhapur, Nagpur, Ahmedabad and Jaipur, driven by demographic changes and growing awareness.
The company also pointed to policy developments supporting the segment. Amit Paranjape, Director – Business Development, stated that the Maharashtra State Housing Policy 2025 introduces a defined category for senior living, along with a concessional stamp duty of INR 1,000, which is expected to improve accessibility for homebuyers and create clearer regulatory positioning for developers once implemented.
The growth of the senior living segment is being linked to the expansion of India’s ageing population and the emergence of the ‘silver economy’, where housing preferences are increasingly shaped by the need for independence, safety and community-based living. Paranjape Schemes indicated that platforms such as Athashri are expected to play a larger role within the broader residential market as these trends continue to gain traction.
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