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NEWS of Columbia Pacific Communities

Why India’s senior citizens are opting for retirement homes

Why Indias senior citizens are opting for retirement homes

For all intents and purposes, Serene Adinath, a building complex near Vandalur, could pass off as a college hostel. Walking across the first floor library and ‘multi-purpose room’, to enter the canteen, I expect a grubby teenager to walk out in shorts, complaining about the food. Instead we are met with two friends in their 50s, sharing a peaceful conversation over a cup of steaming hot kaapi. Serene Adinath, built in 2015, acquired and managed by Seattle-based Columbia Pacific Communities, is one of many senior living residencies — gated apartments that can be bought exclusively by senior citizens. It’s a concept that India is increasingly warming up to, judging by the growing number of such retirement homes across the country. “Let me make one thing clear first. This is not an old age home,” states resident Lakshmi Swaminathan. At 57, she is relatively younger than the rest, and the in-house ‘gadget guru’. Her husband, TS Swaminathan, talks over her as a couple who has been married for years is wont to, “She’s right, we chose to live here. Every day, we are busy here: one day with cultural activities, the next day carrom, yoga, pujas, and so on.” A rising phenomenon “Fifteen years ago, India was not culturally ready for children to have their senior parents live separately. But now the circumstances are such that the children move to other countries or cities, for their career, and their parents stay alone,” says Mohit Nirula, CEO at Columbia Pacific Communities, explaining the rise in retirement homes. Columbia Pacific Communities is managing nine such communities — many of them in Coimbatore, the new hub for such homes — of varying levels of grandeur. On the other hand, some are exclusively high-end, such as Antara Senior living in Dehradun, and Bless Retirement Living on the outskirts of Aluva, near Kochi. “This kind of community living ensures that there is neither loneliness nor alienation, and therefore better mental health. Seniors are secure and their self esteem is intact as they don’t have to depend on their children. There is a professional system in place to take care of them,” says Babu Joseph, of Bless Retirement Living. The premium retirement community, which began functioning in 2016, has 64 apartments, on three acres, all of which are booked and is now moving into the next phase of construction with additional 100-odd apartments. “Initially we were sceptical about the response. But the stigma around senior living communities is gone, perhaps,” he adds. Columbia Pacific Communities, too, saw a similar curve of growth, with its houses in five cities being sold out completely. “Some book the apartment for future use, and until then rent it out to other seniors,” says Mohit. Empowerment is key After her husband passed away 10 years ago, 78-year-old Lalitha Ramachandra lived in New Jersey with her son for five years. “There wasn’t much I could do for fun there. Go out on a stroll, walk the dog…” She came back to India, to live at Serene Adinath. “I have always been restless, I need something to keep me occupied every day,” she says, just back from yoga class. For couples like TS Swaminathan and his wife, it is comforting to know that there will always be staff for housekeeping and to prepare meals. “You don’t have to worry whether the help will turn up the next day or not,” he says. Seventy-six-year old Shankar Raman, who retired six years ago adds with a chuckle, “Now my wife can retire too. She doesn’t need to worry about running the kitchen. And that means fewer domestic squabbles!” While most rely on the assurance of a medical staff on board, some senior doctors in Kochi have flipped the idea on its head. “There are so many doctors who, post-retirement, don’t have much to do. They have so much experience which can be used for the community,” says Dr Jeeji Palocaren, Head of Biochemistry, MOSC Medical College. She is on the core team behind Ayana Doctors Retirement Retreat — a facility exclusively for retired doctors scheduled to be ready in two years. An out-patient clinic within the property will ensure that the doctors are busy and doing their bit for the community. “We decided to keep it exclusive as most of us, from the profession in Kochi, have known each other, studied together, lived in hostels together — there will be that sense of living with friends and the comfort that comes with it,” she says. Design considerations Architect Leena Kumar of Kumar Consultants who has designed may senior living homes says, “Accidents are common with the elderly and many times the flooring proves to be the culprit. The spaces should be free of thresholds and have non-slippery flooring. Wood flooring, linoleum are good options.” Materials should be anti-bacterial, dust free and easy to clean and maintain, she adds. Since accidents invariably happen in the bathrooms, she advocates, besides non-skid tiling, the presence of grab bars in the toilet region, bath area as well as near the wash basin. “I keep bathrooms fairly large to permit the use of a walker or an assistant to aid in use.” “Senior citizens need to be independent and we do that by ensuring their safety, dignity and health, cognitive and physical,” says BRB Puthran, CEO and one of the founders of Alive, an ageing Solutions Company. Their project on more than two acres at Puliyarakonam in Thiruvananthapuram has both villas and apartments for senior citizens. “The Rainbow Project is looking at a holistic lifestyle. So, in addition to doctors on the premises, yoga and group activities, we will organise classes in music, dance or art or whatever they would like to learn. One of the ideas that has many takers is volunteering. We have already adopted two villages in the neighbourhood and we hope to involve the residents of the Rainbow Project in the activities too. The idea is to help them live life to the full in comfortable and safe surroundings. We will be handing over our homes by end of 2019,” adds Puthran. A cure for loneliness When Usha Kala, 72, decided to move to Ashiana Senior Living, in Bhiwadi, Rajasthan, it was mostly out of a sense of insecurity — there was the feeling that at some point in the future, if either she or her husband passed on, there would be a void. Though her husband did pass away before they could occupy the three-bedroom house, Usha moved in last year. She says she loves the camaraderie amongst the 100-odd families that have occupied the facility. In fact, they have a group of singles, who often get together over potluck parties. “I have never lived in a hostel, but I imagine this is what it must be like,” she says. Back in Chennai’s Serene Adinath, Lalitha has managed to win a similar fight against loneliness. With the evening light glowering behind her, she will soon join one of the many groups of men and women, chatting about what should be on the canteen menu, , the elections, and for the nth time, sharing memories of their youth. “It’s like sucking a mango seed. There’s sweetness in it, every time.”

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Why Is It The Best Time To Invest In a Home?

By Basav Mukherjee, CRO, Columbia Pacific Communities April 17, 2019 If realty investment is all on your mind, here is why it is the most betting time to undertake housing investment. Across metros, developers have not only shifted their focus on affordable housing projects but also emphasising on design efficiencies to attract homebuyers. The spurt of the low-cost housing units across metros coupled with well-designed products and various initiatives undertaken by the government has made it the most suitable time for potential homebuyers to plunge into the market. Besides, several other factors can be leveraged for realty investment such as: Big players have forayed into the affordable housing segment, and offering optimised apartment sizes. Several schemes and heavy discounts have also been rolled out to clear the existing inventory. New product categories under development such as senior housing (https://www.99acres.com/articles/best-placesto-settle-after-retirement-in-india.html), co-living, student housing etc. are creating additional value. Banks are offering attractive interest rates. There are many financial schemes available for buyers, including deferred payment plans and subvention schemes that have reduced the risk as well as made it easy for buyers to take the plunge. The government has reduced the GST rates for under-construction apartments to five percent from the earlier 18 percent and for the affordable housing sector to one percent. Besides, with the introduction of Real Estate (Regulation and Development) Act (2016) (RERA), homebuyers are protected by law for any delays or issues with the delivery or quality of their home. There is no excuse to defer home buying anymore. However, homebuyers sometimes fail to factor in the cost of stamp duty and registration of their apartments. This is not a small amount, and it may come as an unpleasant surprise. One of the lesser known facts is that senior citizens and women pay lower stamp duty in most states. Brokers are an essential part of the real estate distribution network since they have much superior information and intelligence about real estate. Good brokers understand the needs of the consumer and try to offer the best solutions to them. In secondary sales, brokers play a crucial part as they typically know the actual prices of the micro market and understand the factors impacting the real estate sector in the locality. Also, brokers have relationships with developers and are therefore able to offer the best rates to the homebuyer. However, technology has changed the landscape. Customers and developers can now get a lot of data, recommendations, reviews, experiences and references from digital tools. For the best value, the homebuyer should opt for a pre-launch unit in an under-construction project of a reputed developer. This will entail paying only the lowest price and will also offer the best payment terms, bank loans and amenities. Besides, an investment in an under-construction project gives the best appreciation to the buyer. This does carry the risk of delays, but since the customer has protection under RERA, the risk is now much less. However, if the customer is risk-averse, has ready capital, it is better to invest in a ready-to-move property. Ready-to-move properties have no surprises and customers can take immediate possession. The additional benefit is that the buyer can immediately lease the home and earn an income. If you planning to invest in Bangalore for a dream home then some of the important destinations offering high value with self-sufficient and quality projects from reputed developers are Budigere Cross, Yelahanka, Hennur Road, Devanahalli and Sarjapur Road.

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WATConsult wins Columbia Pacific Communities’ digital mandate

WATConsult, digital and social media agency from Dentsu Aegis Network, has won the 360-degree digital media mandate of Columbia Pacific Communities – part of Seattle-based Columbia Pacific group, a developer senior living communities in the United States and South East Asia. The mandate includes digital media marketing, social listening and ORM, digital content creation and SEO services. In addition to this, the agency will also be designing and developing the brand’s website. The account will be handled by the agency’s Bengaluru team. Rajiv Dingra, founder and CEO, WATConsult says, “It is our pleasure to partner with Columbia Pacific communities, one of the pioneers to popularize the senior living concept in India. With their recent acquisitions in the Asian market, the brand is set to significantly expand its senior housing portfolio over the next few years in the major parts of the continent. Well, this is a great opportunity for us to align our expertise with the brand to leverage their digital journey in the best possible way.” Mohit Nirula, CEO, Columbia Pacific Communities says, “Columbia Pacific Communities is made up of people drawn to the mission of serving and fulfilling the needs and desires of our senior population. We represent four decades of international expertise in designing and building Communities and serving and fulfilling the changing and evolving requirements of our residents – a promise to be partners for life to those who repose their trust in us and give us the privilege to serve them.” Adding further, he says, “While selecting a digital agency to partner us on our journey, we had three criteria – clutter breaking work, ability to address two generations – the children and the parents as well as a proven track record.”

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