Pune,
Maharashtra | April 20, 2026 : 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.
