PioneerUrban Land and Infrastructure Ltd will invest ₹300 crore in developing a luxury senior living project in Gurugram. Project Advait is a joint venture with JK Organisation’s real estate arm, JK Urbanscapes Developers Ltd.
The project has secured approval under the Haryana State Retirement Policy and will be built on a 2.6-acre site featuring 164 residential units. Each apartment will have a centralized air filtration system (TFA unit) to ensure clean indoor air quality. Fortis Hospital, Gurugram, will also provide on-site medical services for residents within the project premises. Here’s a polished paraphrased version of that sentence:
Manish Periwal, Chairman and Managing Director of PioneerUrban, stated that with the launch of Project Advait, the company is further strengthening its footprint in the senior living segment.
“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,” Periwal added.
Rakesh Bohra, Chief Operating Officer of PioneerUrban, said, “India has shown remarkable enthusiasm for the senior living concept. While the industry has traditionally been concentrated in Southern India (accounting for 40 per cent of current inventory), we are now witnessing significant growth in other emerging regions, particularly in the north”.
PioneerUrban Land and Infrastructure Ltd has developed many projects in Gurugram.
With Project Advait, PioneerUrban is not only expanding its presence in the senior living sector but also catering to the growing demand for luxury, care-oriented housing solutions for senior citizens. This investment aligns with the company’s vision to enhance quality living and provide comprehensive services for an aging population, while contributing to the development of specialized real estate projects in Gurugram and beyond.
