Major developer Signature Global has entered the senior living market by signing an agreement with Manasum Senior Living, based in Bengaluru. Under this partnership, the companies plan to develop 164 senior housing units in the Sarvam DXP project in Gurugram, with the total sales potential estimated at ₹575 crore.
According to information received from sources at Business Standard, these units will be constructed as part of the Sarvam DXP Signature Global residential project in Sector 37D, Gurugram. It has not yet been determined whether a separate tower will be allocated for the senior housing or if these units will be distributed across all 11 towers of Sarvam DXP.
Manasum stated in its announcement that the residential spaces will be available in two configurations: 1815 square feet and 1840 square feet, with an expected price of around ₹3.7 crore per unit.
The agreement outlines a partnership model. Signature Global takes responsibility for the land parcel, development, and construction, including project financing, obtaining approvals, and liaison with authorities. In turn, Manasum is responsible for marketing and selling these residential spaces, as well as managing operations and services for residents after construction is complete.
Manasum added that the companies aim to close sales within 12–18 months, with project handover expected in approximately 48 months. Signature Global's move into the senior living segment comes amid interest from many major developers in this area in Tier-1 cities.
Earlier this month, DLF announced the complete sale of 172 units in its senior living project Aureva for ₹1.985 crore. This segment, which was long associated with nursing homes far from major urban centers, is now actively developing in established markets such as Delhi-NCR, Pune, and Mumbai, with Gurugram and Noida becoming key areas in the NCR.
This shift is driven by the rising income and increased life expectancy of affluent seniors, as well as their desire to remain close to healthcare, social life, and lifestyle ecosystems. Signature Global executives told Business Standard that the company is exploring opportunities that can enhance value for buyers, classifying senior housing as a promising segment.
Dvender Aggarwal, Joint Managing Director of Signature Global, stated that there are currently no specific plans beyond this project, but they will continue to evaluate suitable opportunities as they arise. This deal also marks Manasum's entry into the North Indian market, as this senior care provider previously dominated southern markets.
Anantharam V. Varaiur, Co-founder of Manasum Senior Living, noted that collaborating with Signature Global allows them to bring their senior living operational model to the Delhi-NCR market while leveraging the developer's project execution capabilities.