Richville Infra to invest Rs 500 cr in new housing project in Ludhiana

New Delhi, Nov 5 (PTI) Realty firm Richville Infra will invest Rs 500 crore to develop a housing project in Ludhiana, Punjab, as part of its expansion plan.

     In a statement on Thursday, the company said the 5-acre project will have 300 flats, including 100 apartments for senior citizens.

     The company, through this upcoming project 'Tirthankar Abode', will enter into senior living housing segment.

     Prabhjot Singh, Director of Richville Infra Pvt Ltd, said "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."

     Rajdeep Singh, Director, Richville Infra, said the total developable area is 1 million sq ft in this project, which is already approved by Punjab RERA.

     The company has developed many projects in Punjab.

(This story has not been edited by THE WEEK and is auto-generated from PTI)