Kairav Developers Ltd, a joint venture firm backed by Arihant Foundations and Housing Ltd and Ashiana Housing Ltd, has acquired a piece of 10.44 acres of land in Nemmeli village, Thirupurur taluk. The company will develop a senior living project on this land bank with an estimated salable area of 5 lakh square feet.
“The development cost of the project will be around Rs 120 crore,” said Kamal Lunavat, managing director, Arihant Foundation and Housing Ltd. Ashiana and Arihant will jointly execute this project.
Mr. Lunavat pointed out that senior life is a growing space especially after the COVID-19 pandemic. “One of the big trends we are seeing post COVID-19 is the fact that earlier, seniors used to inquire and call for senior life, but now children and families want to know more about the same. This is because, 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 place,” he said. said.
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