Paranjape Schemes Partners with AIF & Unity Bank for Pune's Landmark Senior Living

In a significant step toward sustainable urban development and inclusive housing, Paranjape Schemes has partnered with India Housing For All (AIF) and Unity Small Finance Bank to launch Ananda Athashri a senior living project in Varve, Pune. The collaboration marks a major milestone in creating community-centric, climate-resilient housing for India’s growing senior citizen population.

 

The project, part of the 40-acre Happiness Hub township, will eventually house over 8,500 residents, with Ananda Athashri offering 500 homes exclusively for senior citizens. The initiative ensures early financial closure through an innovative development funding structure aligned with existing RBI norms, led by Unity Small Finance Bank.

 

“We have innovatively catalysed development funding within RBI guidelines to support a credible developer in the priority infrastructure sector,” said Ranjan Ghosh, President, Unity Small Finance Bank. “This collaboration supports the long-term goal of building thematic senior living homes”.

 

Shrikant Paranjape, Promoter of Ananda Senior Living Private Limited, expressed his vision for expanding senior living projects in India. “Over the past 25 years, we have delivered and maintained 4,000+ homes, and we are committed to developing more projects for India’s rapidly growing senior population from 130 million in 2025 to a projected 231 million in 2050”.

 

Deep Sen, CEO and Founder of India Housing For All, highlighted the initiative’s alignment with national goals. “Our aim is to deliver aspirational, middle-income affordable homes to 1 million families by 2035. Our partnership on Ananda Athashri lays a strong foundation for this vision and aligns with the nation-building principles of the Prime Minister Awas Yojna”.

 

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Ananda Athashri is envisioned as a peaceful, affordable community for senior citizens, blending India’s rich architectural and spiritual traditions. The project features meditation zones, a library, lounges, wellness areas, green infrastructure, and a Char Dham-inspired temple complex all designed to promote wellness and community living. Homes will be priced nearly 50% lower than comparable urban senior living offerings, without compromising on quality or comfort.

 

The development signals the beginning of a broader push to build middle-income, senior-friendly housing in urban India, starting with Pune and the Mumbai Metropolitan Region (MMR).