Paranjape Schemes, India Housing For All, Unity Small Finance Bank to Senior Living Project in Pune

Pune, June 9, 2025: In a landmark move toward sustainable urban development, Paranjape Schemes has joined hands with India Housing For All (AIF) and Unity Small Finance Bank to finance and develop Ananda Athashri, a senior living project located at Varve, Pune.

The collaboration sets the foundation for a larger initiative focused on building climate-resilient, middle-income affordable housing townships at scale across urban regions, starting with Pune and the Mumbai Metropolitan Region (MMR).

The partnership has enabled early financial closure for the first phase of Ananda Athashri, part of the 40-acre Happiness Hub township, which will accommodate over 8,500 residents upon completion. With 500 homes dedicated to senior living, Ananda Athashri is designed as a serene, community-centric environment offering spiritual spaces, wellness zones, green infrastructure and cost-effective pricing—50 per cent more affordable than comparable urban senior living projects.

“We have innovatively catalysed development funding within the current RBI rules to provide financial closure at an early stage to a developer of pedigree in the priority infrastructure sector with a proven track record of delivering thematic senior living homes over 25 years,” said Ranjan Ghosh, President, Unity Small Finance Bank.

Shrikant Paranjape, Promoter, Ananda Senior Living Private Limited, said, “We look forward to working together with India Housing For All and Unity Small Finance Bank on the current project and developing more senior living thematic projects in India.”

He added, “Over the past 25 years, we have delivered and perfected the maintenance of 4,000-plus homes to make greater contributions as demand for such homes is driven from a rising demography of 130 million in 2025 to 231 million in 2050.”

Deep Sen, CEO and Founder, India Housing For All, said, “With an aim to catalyse the development and delivery of aspirational middle income affordable homes to one million families by 2035 with first-generation professional development partners, our partnership with Unity Small Finance Bank for Ananda Athashri provides a foundation for the initiative to commence its growth to reaching its full potential by catering to the nation build principles of Pradhan Mantri Awas Yojana.”

Ananda Athashri-Joyfully Divine, Auspicious New Beginning

Created specifically for senior citizens, Ananda Athashri is inspired by India’s rich spiritual and architectural heritage. Designed as a peaceful haven, the community reimagines the Char Dham experience through a beautifully landscaped miniature temple complex, meditation zones, comfortable lounges, a library and a community canteen.

With homes priced 50 per cent more affordably than comparable senior living homes within the city, Ananda Athashri does not compromise on different features like:
·       24×7 security surveillance
·       Power back-up for lifts and common areas
·       Doctor’s consultation room and ambulance on call
·       Full-time resident manager