VMPL
Pune (Maharashtra) [India], April 20: Paranjape Schemes (Construction) Ltd., a legacy developer known for pioneering new-age residential formats, marks 25 years of Athashri, its senior living platform that has played a defining role in shaping the evolution of organised senior living in India. What began as a forward-looking idea has today evolved into a well-established ecosystem centred around dignity, independence, and community living.
Marking this milestone, Athashri celebrated the handover to its 6000th resident in Vadodara, bringing together residents, leadership, and partners that reflected the spirit of the community. Today, the Athashri platform spans close to 16 senior living communities, supporting over 3000 seniors across multiple cities. The event began with an address by Mr. Shrikant Paranjape, Chairman, Paranjape Schemes (Construction) Ltd., followed by Shashank Paranjape, Managing Director, Paranjape Schemes, who reflected on Athashri's journey and its growing relevance. This was followed by performances by Athashri residents, showcasing the vibrancy and active lifestyle that defines the community.
Building on this, Amit Paranjape, Director, Business Development, Paranjape Schemes (Construction)Limited also announced a series of upcoming tie-ups across healthcare, wellness, emergency support, and community engagement, aimed at further strengthening the integrated ecosystem around senior living. These include partnerships with leading healthcare institutions enabling them access to OPD, ICU support, minor OT facilities, and emergency services including cardiac ambulance transfers and on-call paramedic support. The initiative also includes the introduction of health monitoring systems with fall detection and real-time tracking of key vitals, with data accessible to doctors and family members. On the wellness front, collaborations with a leading yoga institute and specialised trainers will support structured yoga and fitness programmes, while partnerships with organisations like FUEL School (Friends Union for Energising Lives), Camlin, Origami Mitra, and concierge services will focus on creative engagement, learning, and homecare support for residents.
Following the ceremony, a special felicitation was held to honour distinguished Athashri residents whose lifelong contributions have left a lasting impact across fields. Among those recognised were Dr. Mohan Phadnis, a renowned scientist associated with institutions such as BARC, TIFR, and IIT, known for his pioneering work in nuclear science and signal processing; Mr. Sanjay Govind Dhande, Padma Shri awardee and former Director of IIT Kanpur, who has played a transformative role in shaping India's technical education ecosystem; Wing Commander Suresh Karnik, a decorated Indian Air Force officer and Veer Chakra awardee for his exemplary service during the 1971 war; Dr. Rita Mulherkar, a leading figure in cancer research and former senior scientist at Tata Memorial Centre, recognised for her extensive academic and research contributions; and Vandana Gupte, a celebrated name in Marathi theatre and cinema, admired for her powerful performances and enduring contribution to the arts. The felicitation reflected the depth of experience and achievement within the Athashri community, reinforcing its positioning as a space where legacy, excellence, and active living come together.
Shashank Paranjape, Managing Director, Paranjape Schemes (Construction) Limited said, "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. With the celebration coinciding with Akshay Tritiya, a time that symbolises new beginnings and positivity, it makes this occasion even more special. 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. We are also seeing strong growth in Tier 2 and Tier 3 cities, driven by the rising senior population, evolving family structures, and increasing awareness around organised senior living. The need for such communities is steadily growing across markets such as Nashik, Kolhapur, Nagpur, as well as Ahmedabad and Jaipur, among other emerging locations, making senior living a need of the hour and indicating stronger adoption across Indian cities in the years ahead."
The growth of senior living in India is closely linked to the rise of the silver economy, where the needs, aspirations, and lifestyle choices of an ageing population are beginning to shape new housing formats. With increasing life expectancy, changing family structures, and a stronger preference for independent living, senior living communities are steadily moving from a niche offering to an integral part of the broader residential ecosystem.
Amit Paranjape, Director, Business Development, Paranjape Schemes (Construction) Limited said, "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. We are increasingly seeing millennials actively investing in such communities for their parents, driven by the need for structured care, safety, and a sense of community. 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 for both homebuyers and developers. We welcome this move as it will play a key role in shaping the future of the senior living housing sector in Maharashtra when it's implemented."
As India's demographic and social landscape continues to evolve, communities like Athashri are playing an increasingly important role in redefining how ageing is experienced--moving beyond traditional perceptions to create spaces that combine care, independence, and connection. In doing so, they are not just responding to a growing need, but actively shaping the future of senior living in the country.
About Paranjape Schemes (Construction) Limited
Paranjape Schemes (Construction) Ltd. (PSCL), established in 1989 in Pune, is one of India's leading real estate developers with over 35 years of legacy. The company has delivered 200+ residential and commercial projects across nine cities including Pune, Mumbai, Bengaluru, and Vadodara, spanning over 20 million sq. ft. of development and serving more than 75,000 residents. Over the decades, PSCL has built a strong reputation for timely delivery, quality construction, and enduring customer relationships.
PSCL is widely recognised for pioneering large-scale integrated townships such as Blue Ridge and Forest Trails--master-planned environments that seamlessly integrate housing, social infrastructure, open spaces, recreational amenities, retail, and community facilities. These developments are designed as self-sustained ecosystems that foster connectivity, convenience, and community living.
Beyond mainstream residential and commercial real estate, the company has led the way in purpose-driven living formats, including Athashri (senior living communities), Aastha (assisted living), and Swaniketan, India's first residential ecosystem designed for differently-abled individuals and their families. Through these initiatives, PSCL reinforces its philosophy of "Building for All," with a continued commitment to inclusive, sustainable, and future-ready communities under the leadership of Shashank Paranjape and the second generation of the organisation.
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