Ashiana Housing and Arihant Foundations are investing INR 225 crore in a senior living residential project, Swarang, in Nemmeli, Chennai. Spanning 10.87 acres on the East Coast Road, this luxury project is set to generate INR 450 crore in sales. Swarang will offer 1 to 3 BHK units and penthouses, priced between INR 84 lakh and INR 2.08 crore, with the first phase completing by September of 2027. Featuring amenities like sports facilities, gyms, and 24/7 security, Swarang caters to Chennai's growing senior population. This marks Ashiana's ninth senior living project in India and third in Chennai.
Ashiana Housing has partnered with Arihant Foundations & Housing to launch Swarang, a high-end senior living residential project in Nemmeli, Chennai. This project, covering 10.87 acres on the scenic East Coast Road (ECR), will involve an investment of approximately INR 225 crore, with an expected sales realisation of INR 450 crore. Swarang is strategically located near the Sheraton Resort, offering residents stunning views of the Bay of Bengal and access to a peaceful environment where backwaters meet the sea.
The project is designed to cater to the growing demand for premium senior housing in Chennai. Swarang will offer a range of residential units, including 1 BHK, 2 BHK, and 3 BHK apartments, as well as luxurious penthouses. Prices for these units will range from INR 84 lakh to INR 2.08 crore, with unit sizes varying between 912 and 1,462 square feet. The development is characterised by low-rise, low-density construction, ensuring privacy and sophisticated living for residents. The first phase, consisting of 134 units, is expected to be completed by September 2027.
Swarang will feature modern amenities that support an active and vibrant lifestyle for seniors. Residents will have access to various sports facilities, including walking football, pickleball, tennikoit, croquet, and aqua therapy. Additionally, the development will include a fully equipped gym, a place of worship, and spaces for regular social events. Safety and security are paramount, with 24/7 security services, an app-based gate management system, CCTV cameras, and an Emergency Response System ensuring residents' well-being.
Ankur Gupta, Joint Managing Director of Ashiana Housing, emphasised the significance of Swarang as Ashiana's ninth senior housing project in India and third in Chennai. Bharat Jain, Director of Arihant Foundations & Housing, highlighted the importance of addressing the rising demand for high-quality senior living communities in Chennai, particularly as India's senior population is projected to increase significantly in the coming years. With Chennai emerging as a key hub for senior living, the Swarang project is set to attract substantial interest, further solidifying Ashiana Housing's leadership in creating sophisticated living spaces for seniors.
India's senior population is projected to grow significantly in the coming years, with estimates suggesting 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, accounting for around 17% of the global elderly population. This demographic shift highlights the pressing need for comprehensive senior living solutions. Chennai has emerged as a key hub for senior living projects, contributing approximately 74% to the organised assisted living segment in southern India. The city, along with Bengaluru and Coimbatore, plays a crucial role in meeting this growing demand, driven by factors such as higher affordability, the increasing acceptance of nuclear family structures, and the availability of trained healthcare staff.
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