Manasum Senior Living on Tuesday announced the launch of ‘Govardana’, a senior living residential project in Mysuru, developed in a joint venture with Foundations.
The project, spread across 2.5 acres, entails an investment of ₹100 crore and will comprise 180 residential units across three blocks, offering 1, 2 and 3 BHK configurations.
The company expects total sales realisation of around ₹130 crore. The land, valued at ₹20 crore, is being developed under an area-sharing joint venture model, with Foundations handling construction, while Manasum will manage operations and long-term services.
The project has been launched at ₹6,500 per sq. ft., with an introductory price of ₹6,099 per sq. ft. Construction is expected to be completed over a period of 2.5 years.
Designed for individuals aged 55 and above, the project integrates housing with healthcare and hospitality services. It includes senior-friendly infrastructure such as ramps, grab rails, wheelchair-accessible spaces and emergency response systems. Amenities will include a 12,000 sq. ft. clubhouse, swimming pool and wellness programmes.
Commenting on the launch, Anantharam V Varayur said the project aligns with growing demand for professionally managed senior living spaces driven by increasing longevity and changing family structures.
Industry estimates indicate strong growth potential for the segment. According to a JLL–ASLI report, India’s senior living housing market is projected to grow over 300 per cent to $7.7 billion (₹64,500 crore) by 2030. The country’s senior population is also expected to rise significantly, supporting long-term demand.
The project will also incorporate technology-enabled features such as home automation, digital door locks and fall detection systems, along with services including healthcare support, emergency response, housekeeping and concierge services.