Mahindra Lifespace Developers, the real estate arm of Mahindra Group, has transferred 15.64 acres of residential land at Mahindra World City (MWC), Chennai, on perpetual lease to Ashiana Housing, a leading developer of homes for senior living.
Ashiana Housing will build a senior living housing project. MWC is at present home to more than 2,500 families across multi-format residences.
Arvind Subramanian, MD & CEO, Mahindra Lifespace Developers, said, “With ready social infrastructure including a hospital, a retail zone, hotels and restaurants and a world-class club, Mahindra World City Chennai is an ideal destination for senior living amidst natural, suburban, environment-friendly surroundings. This first-of-its-kind planned, integrated city with a thriving business district will enable improved quality of life for senior citizens in a supportive, community environment. We welcome Ashiana to MWC Chennai to address this exciting opportunity.”
MWC is India’s first IGBC ‘gold’ certified township and an operational corporate special economic zone.
Ankur Gupta, joint MD, Ashiana Housing said, “We are heartened by this opportunity, which will help strengthen our development portfolio in Chennai, expanding our footprints in the state. I am confident that with this collaboration, we will be able to provide a superior experience of assisted living to our senior customers and cater to our goal of providing holistic well-being to them.”