Manasum Senior Living buys 164 units in Signature Global's Gurugram project

Bengaluru: Manasum Senior Living, which operates premium retirement communities, on Sunday said it has acquired all 164 residential units in a Gurugram tower being developed by Signature Global, marking its entry into the National Capital Region.

The Bengaluru-based firm purchased the units in a bulk deal for around ₹480 crore, company executives said on the condition of anonymity, adding each apartment will cost around ₹3.7 crore for the final buyer. The senior living tower, to be branded Varishtha, is part of Signature Global Sarvam, a larger 14-acre project being developed along Gurugram's Dwarka Expressway.

The tower will be developed under a partnership model, where Signature Global manages land and development, including financing and approvals, while Manasum will handle sales and marketing, and supervise operations after delivery. The project has an estimated sales potential of ₹575 crore.

Anantharam V. Varayur, co-founder, Manasum Senior Living, said, “Gurugram marks an important step in Manasum’s expansion into north India. Our partnership with Signature Global allows us to bring our senior living operating model to the Delhi-NCR market while leveraging the developer’s capabilities in project execution. We will focus on the sales and long-term management of the community, including the services and support required for senior residents.”

Senior housing, a growing real estate and hospitality-led asset class, has emerged as an opportunity for mainstream real estate developers.

Earlier this month, real estate major DLF Ltd said it has fully sold out The Aureva in Gurugram's Sector 63 for ₹1985 crore, in its first bet on retirement living. The ground-plus-45 floor tower comprises 172 four-bedroom homes and come with dedicated staff dormitories and private decks. Each unit will have three parking spaces and access to wellness, recreational, and lifestyle amenities.

Varishtha will offer food and beverage services, concierge, housekeeping, 24/7 healthcare support, an ambulance on standby and community engagement activities.

“The partnership brings together Signature Global’s development capabilities and Manasum’s specialized senior living expertise. The collaboration adds a specialized residential offering to the Gurugram market," Devender Aggarwal, joint managing director, Signature Global, said.

Manasum develops senior living communities primarily through partnerships with builders. It operates projects across Karnataka, Goa and Andhra Pradesh, and is expanding into Gujarat, Tamil Nadu, and north India. It currently has around 950 operational units, over 1,000 units under development and more than 750 units in the pipeline.

“We will expand further in the NCR market. We are getting offers from other developers as well. We are also exploring various spiritual locations which are suitable for senior housing projects. We have announced our project in Tirupati already, and are looking at Ayodhya, Varanasi, Guruvayur, Vrindavan among others ,” said Manasum co-founder Kushal Ramesh.

As part of its pan-India expansion strategy, Manasum is targeting 10,000 senior living units by 2030. It plans to invest nearly ₹800 crore and launch more than 25 projects over the next five years.

India's 60+ population is estimated at 166.9 million in 2026, projected to reach approximately 347 million by 2050. Organized senior living supply has grown at 14.2% annually since 2024, yet penetration remains at just 1.5%, while assisted living accounts for less than 10% of organized stock, as per a report released by The Association of Senior Living India in September.

Madhurima is Senior Editor at Mint and tracks and writes on real estate, urban issues and infrastructure. Besides news stories, she also writes longform stories. She has over two decades of experience in journalism, and has tracked India's real estate sector closely. Real estate in India is complex and fascinating, and she is one of the few journalists who has tracked the sector over the years and mapped critical events—from the Lehman impact in 2008, to the NBFC-led liquidity crisis, to the boom cycle after the 2020 pandemic. She is a Bengaluru-based business journalist but is always looking forward to travel wherever a story takes her. It could be Ayodhya or Jewar to witness the rise of new property markets, or Goa and Hyderabad to experience the changing real estate landscape. Real estate can be a tricky subject, so her aim is always to dig beneath the surface and tell a story as accurately as possible for the readers.<br><br>She has worked in newsrooms across Mumbai, Bengaluru and Kolkata. She has a Masters degree in English Literature and a postgraduate diploma in journalism from Symbiosis, Pune.

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