PNN

Ludhiana (Punjab) [India], November 7: Richville Infra Private Limited has announced its proposed entry into India's fast-growing senior-living market with a 5-Acre residential development in Ludhiana designed around the evolving needs of senior citizens and NRI families.

The development, Tirthankar Abode, will bring a dedicated senior-living tower and an NRI-focused residential tower within the same condominium. It will comprise of limited number of 100 units in 5-Acres at Hambran Road, Ludhiana, supported by healthcare, life-care services, insurance benefits at all levels and app-enabled assistance.

The announcement places Ludhiana within a senior-housing sector projected to exceed 1 lakh crore by 2030. India currently has only around 25,000 organised senior-living homes against an estimated demand of 20 to 22 lakh units. Colliers expects 30 to 40 per cent of forthcoming launches to be located in Tier II and Tier III cities and spiritual destinations, indicating that the sector's next phase of growth will extend beyond its established metropolitan markets.

Punjab presents a particularly relevant opportunity. The state is among those with an above-average share of senior citizens, while decades of outward migration have created families that remain closely connected but are often separated by countries and time zones. Punjab's NRI-led real estate story has traditionally been measured through homes purchased or constructed. Richville believes its next chapter will be shaped by the care, services and community built around those homes.

Unlike a conventional retirement development, the proposed model will place senior residents and NRI families within the same larger community while providing each group with a residential environment suited to its needs. The senior-living tower is planned around independence, safety and access to support. Shared spaces and programmes will enable interaction across generations without compromising the privacy of either residential group.

Prabhjot Singh, Director, Richville Infra Private Limited, says, "India has a shortage of high quality assisted senior living homes. It has a shortage of credible, professionally supported communities in the places where families want their parents to remain. We now need to build dependable care and community around those homes. That is the opportunity we are addressing in Ludhiana."

The senior-living towers will come equipped with emergency-response infrastructure and address all healthcare requirements of the residents of these limited 100 units. Residents will have app-enabled access to on-call assistance and emergency requirements. As an Industry first, Richville is toying with the idea of making available to all residents the health and insurance benefits right from the day of booking the apartment, rather than having them wait till possession, which is the normal industry practice. These benefits will be available on specific payment plans and will be governed by eligibility, coverage and the applicable policy and scheme terms.

Rajdeep Singh, Director, Richville Infra Private Limited, says, "With a planned development footprint of 1 million sq. ft., which is already approved by Punjab RERA, the project represents a significant investment by Richville in Punjab's emerging assisted senior-living sector. The company plans to invest approximately 500 crore in prime 'A'-grade land and construction, with an anticipated project revenue of approximately 1,000 crore. The aim is to bring care, protection and everyday assistance into one coordinated experience, rather than treating them as separate needs. For seniors and NRI families alike, this is about looking beyond the apartment to the support that makes daily life more reassuring"

The condominium will be professionally managed and maintained by a leading international property consultant and facility management service provider, such as Knight Frank, JLL or Cushman & Wakefield, ensuring world-class property management and service standards.

Yhataw Realty, a trusted 'A' grade real estate advisory company and an expert in assisted senior living selling, is now on Board with Richville for the development and positioning of the senior-living initiative. The advisory mandate includes shaping a proposition that brings real estate, hospitality and healthcare into one coordinated residential experience rather than treating care as an add-on.

Vineet Nanda, Chairman, Yhataw Realty, says "Life after 50 are 'Celebration Years'. Senior living is moving from a niche housing product to a serious real estate and services opportunity. The strongest projects will not be defined only by age-friendly design. They will be defined by the reliability of their operating model. Richville's proposition is especially relevant to Punjab because it responds to two realities at once: parents who want to retain their independence and families abroad who want dependable support to be within reach."

Arjun Nanda, Founder and CEO, Yhataw Realty, says, "Given a choice, I would rate Max Antara as the best existing ecosystem for assisted senior living in the country. Richville is a fresh venture in assisted senior living in Punjab and is moving in the right direction."

Richville will shortly announce the project's total investment, residence mix, operating partnerships, launch schedule and completion timeline.

About Richville Infra Private Limited

Richville Infra Private Limited is a Ludhiana-based real estate development company focused on residential communities responsive to evolving lifestyles and family structures. Its proposed senior-living and NRI-focused development seeks to introduce an intergenerational residential model for Punjab's globally connected families.

Market context: Colliers India, Senior Living Market to Cross INR 1 Trillion by year 2030, 18 August 2026; Press Information Bureau, Government of India, population ageing overview.

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