In the biz of living up to 60+ home demands

The business of factoring in the needs of senior living is an emerging trend and is likely to attract more investments in this sector.
Tara Singh Vachani
Tara Singh Vachani

Chennai

With an estimated 100 million senior citizens—many of them financially stable, independent and well-travelled-- living here, the market is in urgent need of premium senior living communities. One of the earliest to identify this niche market is Max India Group’s Antara Senior Living. Its 14-acre residential community in Dehradun has about 200 bespoke apartments. It offers its elite customers the best in lifestyle and lifecare.
Talking about the evolution of senior living communities and their acceptance in India, Tara Singh Vachani, the CEO & Managing Director, Antara Senior Living says, “There has been a significant rise in the demand for senior living communities. The concept has spread all over India, with several big and small real-estate players having entered the fray. Today, seniors are evolving as a customer segment and have needs and wants different from earlier times. Research also shows that seniors are eyeing better residential options for retirement.” 
Asked about the challenges involved in setting up such communities, Vachani says, “holistic senior living communities with international standards don’t really exist in India. There are residential projects for seniors, providing facilities similar to a regular group housing societies. There is a need to develop communities which go beyond just providing houses and offer its residents a lifestyle required at this juncture of their lives. It is essential to create a community which allows our seniors to dwell with likeminded people, besides taking care of their daily needs.”
The need for a stress-free post retirement life has drawn quite a few eager clients into investing in such lifestyle options says Vachani. “The response for Antara has been very encouraging. Our six apartment types ranging from 1,400 – 6,000 sq ft are priced from Rs 1.7 cr to 7.14 cr. With 50% of our apartments committed, we are motivated to continue building the community. We do have confirmed residents from Tamil Nadu as well. The goal is to provide a holistic lifestyle allowing residents to engage in various activities along with critical lifecare facilities as well.”
SENIOR ADDRESSES
Presently, Antara’s Senior Living Community has homes only in Dehradun. Chennai too has vari ous such homes set up by other realtors. 
  • Ashiana Senior Living, Maraimalai Nagar, operates on an outright purchase model 
  • Serene Senior Living, has projects in Chennai and elsewhere 
  • Aayushmaan Retirement Community, is on 15-acre in Kundrathur with a focus on nature cure

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