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PioneerUrban Land and Infrastructure Ltd will invest Rs 300 crore in developing a luxury residential senior living project, in a joint venture with J K Organisation, under their real estate arm J K Urbanscapes Developers Ltd (formerly J K Cotton Ltd).
The project Advait is the first IGBC platinum-certified project in Haryana to receive a license under the State’s Retirement Policy.
Spanning 2.6 acres Advait is under construction and is expected to be delivered by early 2027.
“Our investment reaffirms our commitment towards creating exceptional luxurious living spaces. With a strong focus on sustainability, cutting-edge architecture, and resident-centric designs, we will continue to set new benchmarks in the uber-luxury real estate sector,” said Manish Periwal, Chairman & Managing Director, PioneerUrban.
With an increased inclination towards community-based senior living solutions, the real estate sector is expected to require 2.3 million units by 2030. Launched at a time when India’s senior living housing sector is witnessing a surge in demand, Advait is positioned as a key contributor to fulfilling the evolving housing needs of senior citizens.
Each apartment is equipped with a centralized air filtration system (TFA unit), ensuring a healthier living environment for the residents. Furthermore, ‘round the clock’ medical services will be provided by Fortis Hospital Gurugram within the project premises.
“India has shown remarkable enthusiasm for the senior living concept. While the industry has traditionally been concentrated in Southern India (accounting for 40% of current inventory), we are now witnessing significant growth in other emerging regions, particularly in the North,” said Rakesh Bohra, Chief Operating Officer of PioneerUrban.
Source : ET
