Infrastructure sector projects by Ashiana Housing Ltd in
Project Information
5997
Ashiana Housing Ltd
Realty player Ashiana Housing plans to expand its retirement housing segment in three more cities in next three years, a senior company official said.
The New Delhi-based firm already has three senior citizen living projects in its portfolio in three cities including Jaipur, Bhiwadi (Delhi NCR) and Lavasa in Pune. It now plans to set up one more in Bhiwadi and one each in Kolkata and Chennai, its joint managing director Ankur Gupta told PTI.
"The concept of retirement homes is evolving in India, but not at a similar pace as it is in other countries. But as the demand is growing here, we plan to expand our presence in this space," he said.
The company expects to have a significant share of sales in terms of area from this segment, he said.
"This year we plan to sell around 25 lakh sqft of area. Over the next three years, by when these projects are expected to come on stream, we expect to sell nearly 30-35 per cent of the total area in this segment," Gupta said.
According to property consultant Jones Lang LaSalle, the number of elderly population is expected to grow to 173 million by 2025, which is now being looked at as a potential real estate market.
"Given the scope of growing number of senior citizens who wish to spend a luxurious retirement life, this segment itself is lucrative business opportunity," Gupta said.
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Conceptual
Multi State
India
Infrastructure
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