Arihant Foundations & Housing Ltd and Ashiana Housing Ltd-backed joint venture firm, Kairav Developers Ltd, has acquired a piece of land measuring 10.44 acres at Nemmeli village, Thiruporur taluk. The company will be developing a senior living project on this land bank, with an approximate saleable area of 5 lakh sq. ft.
“The development cost for the project would be approximately Rs.120 crore,” Kamal Lunawath, Managing Director of Arihant Foundations & Housing Ltd said. The project will be executed by Ashiana and Arihant together.
Mr. Lunawath pointed out that senior living is a growing space especially post the Covid-19 pandemic. “One of the big trends we are seeing after Covid-19 is the fact that earlier, seniors used to enquire and call for senior living but now even children and next of kin want to know more about it. The reason is, they want to ensure that their parents are in a safe environment and well taken care of with various services when they are not around or living in a different location,” he added.
Published - December 15, 2021 04:37 pm IST
