Ashiana Housing adds 168 homes to its Chennai senior living project

Ashiana Housing Ltd has launched Phase 3 of Ashiana Vatsalya, its senior living project at Mahindra World City on GST Road, Chennai, the company announced on 24 October 2026. The phase adds 168 residential units in 1, 2 and 3 BHK configurations, priced from ₹85 lakh to ₹1.69 crore.

The company expects to invest about ₹100.41 crore in the phase. Construction is targeted for completion by March 2029.

What Phase 3 adds

Phase 3 is about 15 per cent of the 1,114 homes planned across the full project, which is spread over 13 towers. Unit sizes across the project run from 891 sq ft for a 1 BHK to 1,530 sq ft for a 3 BHK.

The Phase 3 announcement puts the land at 17.9 acres. It includes a clubhouse of about 42,000 sq ft, 6.3 acres of landscaped and park areas, and more than 40 lifestyle and sports amenities. The developer's own website gave an older figure of 18 acres, with about 4.8 acres of green area. The Phase 3 figures are used here.

Ankur Gupta, Joint Managing Director of Ashiana Housing, said: "Phase 3 builds on this experience and gives us an opportunity to serve the growing demand for quality senior living in Chennai."

Sales so far

Phases 1 and 2 together have sold 367 units, generating sales value of more than ₹314 crore.

Phase 1, launched in March 2024, has sold 205 of its 258 units for over ₹167 crore. That leaves about 162 units sold in Phase 2, which was launched in October 2025. The company registered 28 expressions of interest for Phase 2 before its launch.

A combined figure from the company's Q3 FY26 business update covers Ashiana Amaya in Jamshedpur and Vatsalya Phase II in Chennai. Those two launches sold 149 units out of 402, for a sales value of ₹198.62 crore. The update does not split the figures between the two projects.

Timelines and location

The timelines do not match across sources. The developer's website says the project will be completed in phases over six years. Earlier coverage described five phases over about eight years, with each phase taking around two to two and a half years. Phase 2 possession is expected by July 2028, and Phase 1 possession is listed as 30 September 2028.

The site is near Kolavai Lake. The developer's page puts it about 35 km from Chennai International Airport. A third-party listing count shows 22 ready-to-move housing societies on Mahindra City, GST Road, with about three under construction. That count is not an official source.

In August 2025 Ashiana acquired 22.71 acres on a perpetual lease from Mahindra World City Developers. The land is next to the existing Vatsalya project. The company plans senior living villas and apartments there, with about 15 lakh sq ft of saleable area and sales potential of around ₹1,200 crore. No start date has been given.

Company context

Ashiana Housing is listed on the NSE as ASHIANA and on the BSE as 523716. Its market capitalisation was about ₹2,802 crore at the January 2026 share price. It runs nine senior living projects: three in Bhiwadi, three in Chennai, and one each in Jaipur, Pune and Lavasa.

The company said it planned to invest ₹425 crore in FY2025-26 to grow its senior living portfolio, with Mumbai, Bengaluru and Delhi-NCR as the main focus areas.

For buyers in Chennai, the number to watch is the sold count. The project has 367 units sold so far, against 1,114 planned homes. Phase 3's pace will show how far the demand reported across phases carries into the next launch.