India, Aug. 27 -- Ashiana Housing Ltd has announced the acquisition of 22.71 acres of land in Chennai to develop a senior living housing project with a revenue potential of Rs.1,200 crore, the company said in a regulatory filing.

The land parcel is located within Mahindra World City, Chennai, from Mahindra World City Developers Ltd, a material subsidiary of Mahindra Lifespace Developers Ltd.

The acquired land, strategically located adjacent to Ashiana Housing's existing senior living community "Ashiana Vatsalya", has a saleable potential of approximately 15 lakh sq ft.Also Read: Ashiana Housing and Arihant Foundation to build homes for seniors in Chennai with an investment of Rs.225 crore

The company plans to develop a state-of-the-art...