Paranjape Schemes Construction Limited has partnered with India Housing For All and Unity Small Finance Bank to develop Ananda Athashri, a senior living project in Varve, Pune. This collaboration marks a significant step towards sustainable urban development, focusing on climate-resilient, middle-income affordable housing townships according to a press release.
The partnership has enabled early financial closure for the first phase of Ananda Athashri, part of the 40-acre Happiness Hub township, which will accommodate over 8,500 residents upon completion. With 500 homes dedicated to senior living, Ananda Athashri offers a serene, community-centric environment with spiritual spaces, wellness zones, green infrastructure, and cost-effective pricing – 50% more affordable than comparable urban senior living projects.
“We have innovatively catalysed development funding within the current RBI rules to provide financial closure at an early stage to a developer of pedigree in the priority infrastructure sector with a proven track record of delivering thematic senior living homes over 25 years,” said Ranjan Ghosh, President, Unity Small Finance Bank.
Shrikant Paranjape, Promoter, Ananda Senior Living Private Limited, said, “We look forward to working together with India Housing For All & Unity Small Finance Bank on the current project & developing more senior living thematic projects in India.”
Deep Sen, CEO & Founder, India Housing For All, added, “With an aim to catalyze the development & delivery of aspirational middle-income affordable homes to 1.0 MM families by 2035, our partnership with Unity Small Finance Bank provides a foundation for the initiative to commence its growth.”
Ananda Athashri offers various amenities, including 24×7 security surveillance, power backup for lifts and common areas, doctor’s consultation room, and ambulance on call.
