Chennai Homes announces its first retirement community project
Chennai – The Chennai based developer and promoter “Chennai Homes ” has announced their first retirement community project named “Aishwaryam” in Chennai
This project is Chennai is coming up at Kottaikadu in Marakkanam on the East Coast Road. It is in close proximity to Puducherry (Pondicherry). Aishwaryam sprawls across six acres of land and comprises of 104 single bedroom cottages. According to the Chief Executive Officer (CEO) of Chennai Homes, the complete project is designed in view of taking care of elderly people.
The cottages are fully furnished with a well equipped vegetarian kitchen to offer meals, 24 hour security, ayurvedic massage centre, gym, swimming pool, badminton court, a library, meditation centre, guest houses etc. Additionally there is a facility of 24×7 medical facility with an in-house doctor and an ambulance on call.
The are two phases of this retirement housing project. The first phase is open for sale and consists of 54 ready to move in cottages. The size of these cottages ranges between 415 sq ft and 850 sq ft with a price band of Rs 26 to Rs 42 lakh. The second phase is expected to complete soon.
Although retirement homes had been popular in the western countries and basically can be termed as a Western concept, they are becoming increasingly popular in India. Retirement homes are springing up in vicinity of cities like Delhi NCR, Mumbai, Kochi and Pune, making it a popular trend even in India.
The main reason behind the growing number of retirement homes is that senior citizens are looking to settle down in a tranquil, quiet atmosphere away from the humdrum of city life. They provide an independent lifestyle for senior citizens in secure environment. As safety becomes an important issue for senior citizens living in cities in the autumn of their lives, retirement homes offer them an assurance of safe living.
Another incentive is that the residents get to live in a community of people sharing same age and interests.
The demand for retirement homes has been going up, notwithstanding initial apprehensions of Indian real estate market being sensitive to the idea of old couples settling alone amidst a community.
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