Ashiana Housing Launches Phase 3 of Ashiana Vatsalya Senior Living Project in Chennai

What was announced

Ashiana Housing Ltd has announced the launch of Phase 3 of Ashiana Vatsalya, which it describes as a premium Active Senior Living project in Chennai. The announcement, datelined New Delhi, was reported on 24 October 2026.

Phase 3 adds 168 residential units in 1, 2 and 3 BHK configurations. Prices run from ₹85 lakh to ₹1.69 crore. The company expects the phase to involve an investment of about ₹100.41 crore, with construction scheduled for completion by March 2029.

The site and amenities

The project is on Mahindra World City, GST Road, in the Paranur area of Chennai. The Phase 3 release gives the total project land as 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 site is near Kolavai Lake, and a significant share of homes are described as having lake views. The developer's website gives the airport distance as about 35 km from Chennai International Airport.

Earlier company material describes the site as about 18 acres, with about 4.8 acres of green area. The 17.9-acre and 6.3-acre figures above are those in the Phase 3 release.

Unit sizes across the project range from 891 sq ft for a 1 BHK to 1,530 sq ft for a 3 BHK.

Sales record so far

• Phase 1 launched in March 2024. It has sold 205 of 258 units, generating over ₹167 crore in sales.
• Phase 2 launched in October 2025, with 430 units released. The company registered 28 expressions of interest before its official launch.
• Phases 1 and 2 combined have sold 367 units, with a sales value of more than ₹314 crore to date.

In a Q3 FY26 business update, the company reported that Ashiana Amaya (Jamshedpur) and Vatsalya Phase II (Chennai) together sold 149 units out of a total of 402 units across the two launches.

Company statement

Ankur Gupta, Joint Managing Director of Ashiana Housing Ltd, said that Ashiana Vatsalya has drawn a strong response from seniors and their families because it combines well-planned homes, open spaces, amenities and a community environment. On the Phase 3 launch, he said it gives the company an opportunity to serve the growing demand for quality senior living in Chennai.

Company context

Ashiana Housing had nine senior living projects across India as of its October 2025 reporting: three in Bhiwadi (NCR), three in Chennai, and one each in Jaipur, Pune and Lavasa. In 2025 the company said it had sold over 900 homes across its senior living communities.

In August 2025 the company acquired 22.71 acres of land on a perpetual lease basis from Mahindra World City Developers. The parcel is adjacent to Ashiana Vatsalya and has a saleable area of about 15 lakh sq ft, with sales potential of around ₹1,200 crore. The company plans to develop a senior living project of villas and apartments on this land. No date has been set for that work.

In October 2025 the company said it planned to invest ₹425 crore in FY2025-26 to grow its senior living portfolio, with focus areas in Mumbai, Bengaluru and Delhi-NCR.

What it means for buyers and investors

For buyers, Phase 3 is a new set of homes in an existing community, with a completion target of March 2029. Buyers should check the sale agreement and the project's RERA registration for the phase before committing. Phase 1 is registered under RERA number TN/35/Building/0046/2024.

For investors, the sales figures show that the earlier phases have sold a majority of their units. Phase 1 has sold 205 of 258 units. The combined sales value of Phases 1 and 2 is above ₹314 crore. These are company figures, and no independent analysis of prices or resale values is available for the project.

The Phase 2 launch was financed largely from internal resources. Earlier coverage of the project said it was primarily funded through internal resources, with an additional 8 to 10 percent to be offered as a loan.

Delivery timeline and what comes next

• Phase 1: possession listed for 30 September 2028 on the developer's website.
• Phase 2: possession expected by July 2028, with RERA registration scheduled for April 2029, according to company statements.
• Phase 3: construction completion targeted for March 2029.

The five-phase plan for the project runs over about eight years, with each phase taking roughly two to two and a half years, according to a 2025 news report. The developer's own website describes delivery over six years. The eight-year figure is the one reported in that 2025 coverage.

The company has not announced dates for Phases 4 and 5. Phase 3 bookings and pricing details beyond the launch announcement have not been published in the coverage cited here.