As the company moves into the next phase of expansion, Antara Senior Living, a $4 billion subsidiary of the Max Group, has partnered with Max Estates to develop its first integrated senior living facility, executive chairperson Tara Singh Vachani of Antara Senior Living and vice chairperson of Max India Limited.
Antara is starting its third project after a three-year hiatus. It currently has two projects in its portfolio: one in Noida and one in Dehradun. Due to the increase in demand for elder housing following COVID, it plans to start one project a year and eventually extend to Bangalore, Hyderabad, Chennai, Pune, and Goa.
In the Gurgaon project, there will be two residential buildings specifically designed for elderly life. In the future, we hope to work on integrated projects that include senior housing as a component of the entire complex, according to Vachani.
Max Estates Starting A New Era In Senior Living
Antara Senior Living will be responsible for providing 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. The project is planned to be placed as a unique “inter-generational” project in Gurugram.
After initially proposing to build a residential building on 11.80 acres of land in Gurgaon, Max Estates Gurgaon Limited has now suggested allocating 33% of the available FAR, or around 600,000 sq ft, for the construction of senior living units and related amenities, such as a separate club.
Between 2020 and the present, we were not in a rush to expand, but we are today. This gap has existed since COVID removed two years, but they now want to be able to start a project annually, according to Vachani.
Max Estates Expanding Horizons With New Projects
Max Estates has hired Antara Senior housing Limited as the project manager for the senior housing complex.
“We are hoping that Antara Residences, our next residential project, would be there. We have already launched care at home that is our home care service located in Bangalore. We are also looking into additional places after that, Vachani added.
While Max Estates is concentrated on the NCR, Antara Residences will collaborate with regional developers to expand into further cities.
We intend to start extending Antara houses outside of the NCR. Additionally, we will need local partners in those markets, according to Vachani.
Max Estates Integrating Senior Living in Urban Landscapes
Since phase 1 of the Noida project is anticipated to be finished shortly, the company intends to create phase 2. It intends to grow other verticals concurrently.
Antara intends to open three care facilities in Bengaluru with a combined capacity of 200 beds as part of its aided care services.
AGEasy by Antara offers personalized health and wellness solutions to enable seniors to age with grace and happiness. Seniors may use this D2C platform to manage common chronic illnesses including diabetes, hypertension, joint pain, gastrointestinal health, fall prevention, and more.
Embracing Expansion And New Opportunities
In Koramangala, Antara has launched its first AGEasy Health Studio, where clients may drop by, speak with specialists, and personally examine the solutions.
The purpose of care-at-home services is to provide elders with personalized, individualized care in the comfort of their own homes. Critical care at home, in-home diagnostics, professional nursing care, patient caregivers, mobile health check-ups, and help with everyday tasks are among the services offered.
An additional service, Antara’s MedCare product line, provides a wide array of medical supplies and equipment that may be rented or purchased with the goal of promoting the health and recuperation of elderly citizens.
Senior Living Is A Growing Segment In Indian Real Estate
According to UN standards, the country would have 300 million seniors by 2050, up from the current 120 million. This will have a substantial influence on a number of industries, including consumer products and services, housing, and healthcare, according to Vachani.
Scattered across 14 acres of land, Antara’s first residential neighbourhood in Dehradun has about 200 flats. It opened a brand-new senior living community in Sector-150 in Noida in 2020. In the initial phase of development, it will have 340 units that will serve seniors’ social, recreational, educational, wellness, and health requirements. By 2024, it should be prepared for possession.
Source-ET
