Antara Senior Living, a subsidiary of the $4 billion Max Group has tied up with Max Estates to develop first integrated senior living facility as the company enters into the next phase of expansion, Tara Singh Vachani, executive chairperson of Antara Senior Living and vice chairperson of Max India Limited told ET.
Antara has two projects -one in Dehradun and one in Noida in portfolio and is launching the third one after a gap of three years. It intends to launch one project every year and is looking to expand to cities like Bangalore, Hyderabad, Chennai, Pune and Goa as demand for senior living has gone up post Covid.
“We will have two residential towers in the Gurgaon project dedicated to senior living. Going forward, we want to do integrated projects, where senior living is part of the overall complex,” said Vachani.
The project is proposed to be positioned as a unique “inter-generational” project in Gurugram where Antara senior living will be responsible to provide its expertise and advisory services for design, conceptualization, training and development of project personnel, and expert advice on promotions marketing and sale for the senior living project.
Max Estates Gurgaon Limited had proposed to develop a residential project in Gurgaon on 11.80 acres land and it has now proposed 33% of the available FAR, about 600,000 sq ft, to be allocated for development of senior living units and associated facilities including a separate club.
“We were not in a hurry to expand between 2020 and now but now we are in a hurry. The reason this gap has been there because COVID took out two years but now want to be able to launch a project every year,” Vachani said.
For the senior living development, Antara Senior Living Limited has been engaged by Max Estates as project manager.
“We have launched care at home which is our home care services in Bangalore and we hope that Antara residences, our next residential project will be there. Post that we are exploring other cities as well,” Vachani said.
As Max Estates is focused on NCR, Antara residences will tie up with local developers for expansion in other cities.
“For Antara residences, we want to start expanding outside of the NCR. And we will have to have local partners in those markets,” Vachani said.
Company plans to develop phase-2 in the Noida project as phase-1 is expected to be completed soon.
Simultaneously, it plans to expand other verticals as well.
Under its assisted care services, Antara plans to set up 3 care homes in Bengaluru with a total capacity of 200 beds.
AGEasy by Antara, aims to empower seniors to age with ease and joy through customised health and wellness solutions. It is a D2C platform to help seniors manage common chronic conditions like joint pain, diabetes, hypertension, gut health, fall-management and more.
Antara has opened its first AGEasy Health Studio in Koramangala, where customers can walk in, interact with experts, and explore the solutions in person.
Care-at-Home services, are designed to offer tailored and individualised care solutions for seniors in the comfort of their homes. The services include critical care at home, in-home diagnostics, skilled nursing care, patient caregivers, mobile health check-ups, and assistance with daily activities.
Another offering, Antara’s MedCare product range, is aimed at aiding the recovery and well-being of seniors and offers a comprehensive range of medical products and equipment readily available on rent and for sale.
“We already have 120 mn seniors and by 2050, this number will grow to 300 mn making the country an aged society by the UN’s definition. This will impact several sectors significantly, ranging from healthcare, to housing, to consumer goods and services,” said Vachani.
Antara’s first residential community in Dehradun comprises nearly 200 apartments spread across 14 acres of land. In 2020, it launched a new senior living facility in Noida’s Sector-150. With 340 apartments in its first phase of development, it will cater to the social, recreational, educational, wellness, and health-related needs of seniors. It is expected to be ready for possession by 2024.
Source : ET