The senior living project involves developing one million square feet at Oragadam.
Spread across 4.5 acres, the project will feature 400 residences, to be developed in two phases. Each residence will be thoughtfully designed as a 2 BHK unit of approximately 700 sq. ft., priced from Rs 60 lakh onwards.
Hiranandani Parks, Oragadam, pegs an ambitious topline revenue of Rs 4,000 crore, developing nearly 100 acres of prime real estate aligned with Oragadam’s strong growth trajectory in the next five years.
Addressing a press conference in Chennai, Dr. Niranjan Hiranandani, Founder & Chairman, Hiranandani Communities, said that the launch marked a pioneering collaboration between Hiranandani Parks and GTB Developers, aimed at creating a world-class, wellness-driven ecosystem tailored for senior citizens.
Arun Bharathi, Managing Director of GTB Urban Developers, said, “Elements at Hiranandani Parks will be one of the finest retirement communities in the country, blending community living with the advantages that technology has to offer for modern care.”Following the Oragadam launch, Hiranandani Communities is also exploring Panvel and Powai as future destinations for senior living.
With India’s senior population projected to reach 194 million by 2031, the senior living segment represents a high-growth, under-penetrated real estate opportunity, said a release from the company.
