For first time in India, retirement township set to take off in Pune often Rs 1,000 cr HDFC boosters hot

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Pune | Published: November 16, 2016 6:28:52 AM

For the first time in India a township dedicated to senior citizens homes is set to take-off in Pune. Paranjape Schemes (Construction) Limited, which has pioneered the dedicated senior living segment in the realty business in the year 2000 with its...

For the first time in India a township dedicated to senior citizens homes is set to take-off in Pune. Paranjape Schemes (Construction) Limited, which has pioneered the dedicated senior living segment in the realty business in the year 2000 with its Athashri brand in Pune is now scaling up this segment.

The 35 acre Athashri Valley township will have 1,500 homes and will be a Rs 1,000 crore project, Shashank Paranjape MD, PSCL, said. According to him, this project has secured funding from HDFC. “There has been some innovation worked out to fund this project as it has a longer gestation period so it comes with a longer payback period considering the segment it serves,” Paranjape said. Paranjape Schemes also plans to take its Athashri brand of retirement homes to the US.

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