Max India enters Senior Living business through Antara
New Delhi, India, May 27, 2013: Max India Limited, one of India’s multi-business corporate, has launched its new business venture, Antara Senior Living Limited, focused on progressive seniors over the age of sixty. Antara will create vibrant residential communities that offer Lifestyle with Life care. The first senior living community spread across 20 acres will be located at Dehradun and will be ready for its residents by 2015.
The Dehradun community, spread across 20 acres with a view of the picturesque Mussourie hills, has been designed to meet the unique needs of seniors by creating a hassle-free lifestyle combined with access to comprehensive health services. Antara Senior Living’s value proposition is to create a fun and active lifestyle for their residents. The inspiration is to enjoy life and be healthy while ageing. Antara’s value proposition is based on offering five dimensions of wellness Environmental, Physical, Social/Emotional, Intellectual/Occupational and Spiritual. Being built at a cost of INR 520 crores this community will comprise of apartments between the range of INR 1.25 Cr to 4.5 Cr. We also have 3 penthouses priced at INR 7 Crores.
Analjit Singh, Chairman, Max India Group, said, “The love and affection which we have received from the people of Uttarakhand have been overwhelming. Today, as a group entity Max India Group has the second largest presence, amongst all our locations, at Dehradun (second only to the NCR region). Our Multi Super Speciality Hospital is commemorating its first anniversary. Max Life Insurance and Max Bupa Health Insurance have a significant presence in the region. In a way it is befitting, that Antara, our senior living initiative, is making its debut in Dehradun. A pioneer in its domain, Antara will redefine the way seniors live in India. It will be our consistent endeavor to serve with a sentiment of Sevabhav, Excellence and Credibility- the three defining values of our group.”
It is estimated that more than 3 out of every 5 households today is nuclear (National Family Health Survey) and that seniors who live alone face a lot of challenges. Their number one fear is that of their own security and often the largest threat to seniors is their own domestic staff. In a recent survey by Helpage India, 14% of senior citizens living in major cities of India have faced some form of physical abuse. It has been found that managing a household in India is also very difficult for seniors given the significant time and effort required to complete basic tasks along with the challenge of finding reliable domestic staff. Besides, living alone after retirement commonly leads to social isolation, loneliness and lack of activity or engagement which often leads to a decline in mental health. Access to medical care can also be difficult for seniors as travelling to and fro from a hospital can be a challenge.
India in 2011 had 98 million elderly citizens with their base growing at 3.8%. By 2016, India is expected to have 118 million senior citizens as the life expectancy will cross 70 years by then.
Tara Singh, CEO, Antara Senior Living Limited, said “Our research of the Indian market, both from a demography point of view and in understanding the unique needs of seniors, strongly highlighted the need for this industry to develop in India. Our vision therefore is to create a fun and healthy lifestyle for seniors keeping in mind world class standards and exceptional service delivery. We believe we have the right ingredients to succeed – the passion of the team, the work done till date to understand our customer and the synergy and support from within the Max India Group.”
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