Ageing has traditionally unfolded within joint families, but it is changing fast. Looking at these shifts, Niranjan Hiranandani, founder and chairman of Hiranandani communities, has now forayed into housing for seniors. “The decision is both a market opportunity and a moral imperative,” says Hiranandani. There is an obvious gap in the availability of good-quality senior living options in India. Earlier, recalls Hiranandani, “people had no demands. If you gave them four walls, they would be very happy. Now, they want a community with activities and events to be together with their peers.”
Elements at Hiranandani is the new senior living project promoted in Oragadam, in collaboration with GTB Urban Developers. Spread across 4.5 acres with a development potential of 1 million sq ft, the project will feature 400 residences to be developed in two phases. The overall project value is estimated at Rs 300 crore. This project will have senior friendly features including ramps, non-skid flooring, digital care tools and wellness platforms. Many seniors are not tech savvy. Elements aims to offer simple living with an accurate level of technology. Elaborating on this, Hiranandani says, “our intention is not to have technology that will make life easier.”
As senior people will have fixed incomes and significant outgoes for maintenance, medical costs and emergency needs, purchasing a unit may be a financial burden. Keeping this in mind, Hiranandani has plans on the anvil for reverse mortgages and long-term leasing eventually. “Families are still getting used to the concept of senior communities. Financial solutions for varying needs will evolve naturally,” points Hiranadani.
Following this, Hiranandani communities are also exploring Panvel and Powai as future destinations for senior living, reinforcing their commitment to inclusive, multi-generational community development