Paranjape Schemes Celebrates 25 Years of Athashri with 6,000th Resident Milestone
Pune, April 22, 2026: Paranjape Schemes (Construction) Ltd. marked a historic quarter-century for its senior living platform, Athashri, on Saturday, signaling a new era for India’s evolving “silver economy.” The milestone celebration, held in Pune, coincided with the handover of a home to the platform’s 6,000th resident in Vadodara. Today, the Athashri ecosystem encompasses 16 specialized communities supporting over 3,000 seniors across the country, transforming what was once a niche concept into a mainstream residential format, the company said in a press release.
The anniversary event served as a platform for the developer to unveil a “future-ready” vision for senior care. Amit Paranjape, Director of Business Development, announced several high-tech and healthcare partnerships designed to integrate modern safety into daily living. New initiatives include health monitoring systems equipped with fall detection and real-time vital tracking accessible to families and physicians. These are bolstered by tie-ups with leading medical institutions for ICU support, emergency cardiac services, and on-call paramedics, alongside wellness programs featuring yoga, creative arts, and concierge support.
Reflecting on the platform’s journey, Shashank Paranjape, Managing Director of Paranjape Schemes, emphasized the cultural shift in how Indian families view aging. “This moment is deeply meaningful for us. What started as a simple thought to create a space where seniors could live with dignity and independence has today evolved into a reality that so many people trust and are a part of. There is an immense sense of pride in seeing this vision come to life as a thriving community. It reinforces our belief that senior living is not just about creating homes, but about building environments where people truly belong where ageing is not just about living, but about experiencing joyful moments that truly matter,” he said.
The event also featured a special felicitation of distinguished residents, highlighting the caliber of professionals now choosing organized senior living. Among those honored were Padma Shri awardee and former IIT Kanpur Director Sanjay Govind Dhande, Veer Chakra recipient Wing Commander Suresh Karnik, nuclear scientist Dr. Mohan Phadnis, cancer researcher Dr. Rita Mulherkar, and celebrated actress Vandana Gupte. The recognition underscored Athashri’s positioning as a hub where legacy and active living intersect.
Looking toward the future, the company noted that senior living is rapidly expanding into Tier 2 and Tier 3 cities like Nashik, Kolhapur, and Nagpur.
Amit Paranjape pointed out that the segment is being further bolstered by favorable government intervention.
“Senior living is entering a new phase of growth in India. What was once seen as a need-driven decision is now becoming a more planned and conscious choice. The recent framework on senior living introduced by Maharashtra State Housing Policy 2025 marks a decisive moment in how senior living is being institutionalised in India. The introduction of a dedicated senior living category, along with measures such as a nominal ₹1,000 stamp duty, will fundamentally change the accessibility and attractiveness of this segment,” he stated.
As India’s demographic landscape shifts toward an older population with a preference for independence, Athashri’s 25-year milestone reflects a broader transition in the real estate sector. By combining structured healthcare with community engagement and legislative support, the platform continues to redefine the aging experience, moving it away from traditional perceptions toward a model of vibrant, institutionalized care.
