NEWS of Columbia Pacific Communities

Why do seniors experience added health problems during summers? Due to ageing, skin elasticity is lost and sweat glands start functioning at a low level, which disturbs the thermostat mechanism of the body. Therefore, seniors are more prone to dehydration when external temperatures fluctuate. The functioning of organs such as kidneys, heart, lungs and the digestive system is low in seniors, which makes them susceptible to water and electrolyte imbalances. What are the health problems faced by elders during summer? The most common problems faced by seniors are heat cramps, heat syncope, heat exhaustion, dehydration, and electrolyte imbalance. If an elderly person is overweight or obese and has diabetes, then excessive sweating because of the season may clog the skin and sweat pores which will predispose him or her to skin infections. What are the ways to handle these health problems in summer? Preventive methods – Ayurveda and Siddha talks about food being medicine. So the right kind of food taken during summer will protect one from seasonal health problems. -Consume fruits and vegetables that contain a lot of water such as melons, pumpkin, ash gourd, cucumber, etc. These add more alkalinity to the internal fluid which itself is a major step to maintaining electrolyte balance in the body. -Hydrating oneself well with adequate water is essential. At least 8 litres of water a day is mandatory if there are no restrictions on fluids. -Drinking buttermilk or tender coconut is beneficial. Buttermilk empowers the liver and protects it. Tender coconuts support the kidney in its proper maintenance of electrolytes. -If an elderly person has an ailing kidney, barley water helps in hydration. -Fresh lime juice with mint cools the system. Other protective measures -Avoid going out in the sun. Working outdoors can be restricted to timings closer to sunrise and sunset. -Bathing with neem, sandal, or turmeric based organic soaps help to keep the skin cool. They also help in protecting the skin from infections and boils. -If going out is inevitable, choose the latter part of the day. Even then one must wear UV protective sunglasses, a hat or use an umbrella. -Always carry a water bottle whenever going out to avoid dehydration and drinking from other sources as water borne diseases are common during summer. What are some of the activities seniors can indulge in during summer? Moderation in food, activity and rest are the cornerstones of healthy living. Exercise is a must for seniors. Physical activity in the form of walking, mindful movements such as Yoga and Taichi are important and must be a part of their routines. But one must keep in mind to be physically active only during early sunrise or after sunset. Dr. Karthiyayini Mahadevan, Head, Wellness and Wellbeing, Columbia Pacific Communities.

Why do seniors experience added health problems during summers? Due to ageing, skin elasticity is lost and sweat glands start functioning at a low level, which disturbs the thermostat mechanism of the body. Therefore, seniors are more prone to dehydration when external temperatures fluctuate. The functioning of organs such as kidneys, heart, lungs and the digestive system is low in seniors, which makes them susceptible to water and electrolyte imbalances. What are the health problems faced by elders during summer? The most common problems faced by seniors are heat cramps, heat syncope, heat exhaustion, dehydration, and electrolyte imbalance. If an elderly person is overweight or obese and has diabetes, then excessive sweating because of the season may clog the skin and sweat pores which will predispose him or her to skin infections. What are the ways to handle these health problems in summer? Preventive methods – Ayurveda and Siddha talks about food being medicine. So the right kind of food taken during summer will protect one from seasonal health problems. -Consume fruits and vegetables that contain a lot of water such as melons, pumpkin, ash gourd, cucumber, etc. These add more alkalinity to the internal fluid which itself is a major step to maintaining electrolyte balance in the body. -Hydrating oneself well with adequate water is essential. At least 8 litres of water a day is mandatory if there are no restrictions on fluids. -Drinking buttermilk or tender coconut is beneficial. Buttermilk empowers the liver and protects it. Tender coconuts support the kidney in its proper maintenance of electrolytes. -If an elderly person has an ailing kidney, barley water helps in hydration. -Fresh lime juice with mint cools the system. Other protective measures -Avoid going out in the sun. Working outdoors can be restricted to timings closer to sunrise and sunset. -Bathing with neem, sandal, or turmeric based organic soaps help to keep the skin cool. They also help in protecting the skin from infections and boils. -If going out is inevitable, choose the latter part of the day. Even then one must wear UV protective sunglasses, a hat or use an umbrella. -Always carry a water bottle whenever going out to avoid dehydration and drinking from other sources as water borne diseases are common during summer. What are some of the activities seniors can indulge in during summer? Moderation in food, activity and rest are the cornerstones of healthy living. Exercise is a must for seniors. Physical activity in the form of walking, mindful movements such as Yoga and Taichi are important and must be a part of their routines. But one must keep in mind to be physically active only during early sunrise or after sunset. Dr. Karthiyayini Mahadevan, Head, Wellness and Wellbeing, Columbia Pacific Communities.

With changing social patterns and the growing number of nuclear families, the demand for homes designed for seniors is bound to rise. A massive senior population will require homes designed especially catering to the needs of the elderly. Communities designed with seniors’ needs in mind are increasingly becoming the lifestyle solution of choice, as well-managed communities serve the current and future needs of their residents. The senior population in India, which stood at 116 mn in 2018, will reach 158 mn in 2025. In four years from today, seniors will constitute 12 percent of the total population of the country. Of these, a staggering 67 mn seniors will be living in urban India. The overall population of the country is split 70 percent in rural India and 30 percent in urban India. The ratio for seniors is skewed more towards the cities, with 42 percent of seniors residing in urban areas. Over the past couple of decades, especially in urban India, family sizes have reduced, income levels have increased, and parents have taken pride in giving their children access to the highest quality of education that they could afford. Globalisation and rapid domestic economic development have given this young, well-educated demographic the opportunity to travel away from their home cities to different parts of the country and the world in pursuit of their careers. The senior demographic, in turn, has taken pride in their children’s growth and being financially independent, wish to retain their personal independence and not be either tagged to or become dependent on their children. As a consequence, an increasing number of parents are living away from their children – not out of compulsion but as a matter of choice. Instead of living alone in their homes or in apartments in mixed-family condominiums, senior living communities offer a lifestyle that takes away the headaches of daily living, as the service provider takes care of all needs such as security, common-area and in-home housekeeping and maintenance requirements, dining and cooking. Furthermore, the on-site medical support attends to the residents’ existing needs and are geared to evolve as these needs change over time. A combination of the daily services and medical support give residents the sense of security they need and their children the peace of mind that their parents are in good hands. A CII report of 2018 on demand for homes in senior living communities pegs the number at 2,40,000. The number of homes that are either available or are in various stages of development is less than 20,000. In the years to come, there are several additional factors at play that will cause a demographic shift in the population mix. Reducing birth rates, increasing life expectancy, and improved medical facilities will see senior citizens (over the age of 65) outnumber children (below the age of 5) for the first time in the recorded history of humankind. Traditions and social practices see parents supporting and caring for their children, and then, in turn, children support and care for their parents in their old age. It is for this reason that the unfortunately named “old age homes” carry with them the totally undeserved stigma of residents being “abandoned” by their children. However, the changing social realities of independent-minded parents and children, a changing world where parents and children pursue independent lifestyles not out of compulsion but as a choice, will see exponential growth in the demand for communities designed for seniors. Given the long gestation periods in the building of real estate projects, the gap between the demand and supply is only going to increase in the medium term. It will require visionary developers and service providers to understand the changes that are occurring and move rapidly to create the solution for the needs that already exist and which will only increase over time.

With changing social patterns and the growing number of nuclear families, the demand for homes designed for seniors is bound to rise. A massive senior population will require homes designed especially catering to the needs of the elderly. Communities designed with seniors’ needs in mind are increasingly becoming the lifestyle solution of choice, as well-managed communities serve the current and future needs of their residents. The senior population in India, which stood at 116 mn in 2018, will reach 158 mn in 2025. In four years from today, seniors will constitute 12 percent of the total population of the country. Of these, a staggering 67 mn seniors will be living in urban India. The overall population of the country is split 70 percent in rural India and 30 percent in urban India. The ratio for seniors is skewed more towards the cities, with 42 percent of seniors residing in urban areas. Over the past couple of decades, especially in urban India, family sizes have reduced, income levels have increased, and parents have taken pride in giving their children access to the highest quality of education that they could afford. Globalisation and rapid domestic economic development have given this young, well-educated demographic the opportunity to travel away from their home cities to different parts of the country and the world in pursuit of their careers. The senior demographic, in turn, has taken pride in their children’s growth and being financially independent, wish to retain their personal independence and not be either tagged to or become dependent on their children. As a consequence, an increasing number of parents are living away from their children – not out of compulsion but as a matter of choice. Instead of living alone in their homes or in apartments in mixed-family condominiums, senior living communities offer a lifestyle that takes away the headaches of daily living, as the service provider takes care of all needs such as security, common-area and in-home housekeeping and maintenance requirements, dining and cooking. Furthermore, the on-site medical support attends to the residents’ existing needs and are geared to evolve as these needs change over time. A combination of the daily services and medical support give residents the sense of security they need and their children the peace of mind that their parents are in good hands. A CII report of 2018 on demand for homes in senior living communities pegs the number at 2,40,000. The number of homes that are either available or are in various stages of development is less than 20,000. In the years to come, there are several additional factors at play that will cause a demographic shift in the population mix. Reducing birth rates, increasing life expectancy, and improved medical facilities will see senior citizens (over the age of 65) outnumber children (below the age of 5) for the first time in the recorded history of humankind. Traditions and social practices see parents supporting and caring for their children, and then, in turn, children support and care for their parents in their old age. It is for this reason that the unfortunately named “old age homes” carry with them the totally undeserved stigma of residents being “abandoned” by their children. However, the changing social realities of independent-minded parents and children, a changing world where parents and children pursue independent lifestyles not out of compulsion but as a choice, will see exponential growth in the demand for communities designed for seniors. Given the long gestation periods in the building of real estate projects, the gap between the demand and supply is only going to increase in the medium term. It will require visionary developers and service providers to understand the changes that are occurring and move rapidly to create the solution for the needs that already exist and which will only increase over time.

20 years ago, when Daniel R. Baty ­ the legend who established Columbia Pacific Group in Seattle in 1989 and championed the concept of senior living ­ visited India, he found that the country wasn’t ready for senior living communities. 17 years later when Daniel visited India again, he still felt that the country was not culturally ready for the change, but socially it had opened up to adapt to the global shift. Hence, he decided to offer senior living communities that are world class, safe and secure, giving peace of mind to seniors and their kin. “Social and demographic changes coupled with increasing wealth is leading middle-class Indians to live as nuclear families. Today, parents are willing to let their kids live free, grow, and be global citizens instead of clipping their wings. On the other hand, their children want their parents to live in a community that is supporting and letting them stay away from early aging ­ a community that steals their loneliness and provides them the opportunity to live a life they always wanted to,” explains Mohit Nirula, CEO, Columbia Pacific Communities. He continues, “What makes a senior living community successful is the way it is designed, run and managed which makes seniors live healthier, far longer because it is an extremely healthy, engaging, and active environment. So, the thought of removing loneliness and making them live longer and healthier is why it is the right time for us to think of senior living communities.” With this concept, Daniel and Mohit established Columbia Pacific Communities ­ India’s largest senior living operator. The company is a full service and solution provider in India, providing a range of services to its senior clients, starting from relocation services, valet parking, guest services, concierge services, Wi-Fi, health, and wellness centre, housekeeping, library, food, spa, technicians team, legal and administrative help, technology assistant, courier and postage services, religious rituals and ceremonies, horticulture, event planning, evacuation drills, and several others. What more? To ensure top class services without compromising on the quality of its offerings, Columbia Pacific Communities has divided its business into three sections ­ the first is real estate where it ensures acquiring land at the most suitable location, designing and constructing the building, and then selling it to future residents. The second section is based on hospitality and services. Mohit explains, “The reason why people buy homes in communities for seniors is not much for the home but for the services that they need from the day they move in and the services they require at the growing age over time. Hence, our services at the hospitality context are essential and integral to senior living communities.” The third section of the business is built on the foundation of healthcare. Columbia Pacific Communities understands that as people age over time, there needs to be a community to stand by them in terms of their medical needs, whether it is today or tomorrow. “Columbia Pacific Communities is an amalgamation of real estate, hospitality and healthcare. We stand strong by our promise of world class healthcare and our healthcare partner Columbia Asia Hospital empowers us to do so. We and the hospital are promoted by the promoters of Columbia Pacific Group. We are glad to have the four decades of international experience of the Group that is acting as our guiding light,” explains Mohit. In essence, this is what Columbia Pacific Communities is. The future residents of the communities get a home, world class services and healthcare, all under one roof. To ensure `no compromise’ on its level of services, the company sometimes partners with real estate developers to take advantage of their experience, whether it’s bringing in land in great locations at a reasonable price, or the ability to get approval or the economies of scale that comes in construction, cost and others. “And we bring in the design aspects because of our four decades of legacy in understanding the senior living community design, sales and marketing, and operations in healthcare. Between both the companies, the person who benefits the most are our future residents,” explains Mohit.   The JOURNEY, the GROWTH and the EXCELLENCE The world is a strange place! People, culture, food, taste and almost everything differ from country to country. But in India, this difference can be noted from region to region. With thousands of languages, cultures, dialects, food habits and more, it is difficult to paint them all with a single brush. Hence customization/personalization becomes more important. So, Columbia Pacific Communities followed a differential approach to ensure they meet every client’s needs. Mohit asserts, “The very first step post establishing a base in the country was to acquire companies which allowed us the privilege to serve nine communities. And all of these in just two and a half years ­ serving 3,000 seniors in 1,600 homes spread across nine communities in five cities of Tamil Nadu, Karnataka and Puducherry. This proved as a learning lesson for us as well, where we got to know what works well and what works better while serving and looking after our residents, and putting the experience into use, we have started looking into designing our own communities.” The company has recently launched its 10th community called The Virtuoso Club and Serviced Residences, in Bangalore. The project is under construction and is likely to get completed by October 2022. Columbia Pacific Communities has also entered into a 50-50 joint venture with Embassy Group in Bangalore, one of the region’s finest developers and with Nyati Group in Pune. The company will shortly add projects in Chennai, Kolkata and Hyderabad. Mohit feels that there is a lot of growth and excitement within the company and the organization is really keen on fulfilling its vision of being the country’s largest, best and most preferred developers for community living for seniors. While the world was still fighting the pandemic, Columbia Pacific Communities experienced a considerable growth. “It’s been a busy two and a half years because of the good work done by our team. Remember we are still fighting a pandemic which has impacted seniors in the worst possible manner. However, our team’s hard work is ensuring we remain busier for the next two and a half years”. He continues, “Especially in the past 10 months, ever since we realised that we have to be acutely watchful of what the pandemic can do to our community, we have ring fenced our communities completely to isolate from the external environment and provide our residents all the services they needed within the communities without having them to expose them to any external threat.” Going a step forward, Columbia Pacific Communities took cognizance of the fact that social distancing doesn’t result in social out-passing or loneliness for their community residents. It had every protocol in place to ensure senior citizens live actively engaged social lives without putting them at risk.   The Three PROMISES Standing strong on the three pillars of zero-headache lifestyle, positive aging, and a community standing with you, Columbia Pacific Communities walk each of them, literally. From security needs to housekeeping needs, both in the community and inside the house, from daily and monthly cleaning to preventive cleaning, from watering your plants to taking care of your dining needs including special food requirements due to medical or health reasons, seniors get every facility within the boundaries of the communities. This ensures zero-headache, and they have all the time to themselves to spend walking, playing, listening to music, visiting friends, or watching movies. `Positive aging’ is a special brand promise of Columbia Pacific Communities. It’s not just two magical words but it actually creates magic by de-linking one’s physical age with the concept of aging. “Just because you are 60 doesn’t mean you have to act like you are 60. We would want you to be physically fitter, mentally more alert, intellectually more stimulated and spiritually more enlightened in a social environment,” Mohit highlights. Hence, Columbia Pacific Communities has a packed resident engagement programme that gives people the opportunity and space to engage with like-minded people in their pursuits. This keeps one healthier for longer because one is not sitting idly on the couch staring at the TV and holding the remote. Mohit underlines a very important aspect of aging. He says, “With aging, the radius of your ability to interact with people gets smaller as you have to depend on various factors including a driver, a car, traffic, parking space and more. These hassles might confine your thoughts to go out to any function or meet someone staying at the other corner of the city. Hence our programs ensure that our senior residents spend a lot of time outside in the common areas, thus ensuring they age positively. Built on the foundation of healthcare, Columbia Pacific Communities stands with its residents. Hence it offers 24/7 nurse, driver availability, and 24/7 ambulance on standby. The communities also have doctors visiting on a daily basis, while the premium segments have doctors available throughout the day. This ensures the residents’ needs are addressed instantly. The company also has relationships with nearby hospitals and offers residents the `Golden Hour’, during which a resident can be shifted from his/her bed to a hospital bed within 60 minutes in case of any emergency. Mohit asserts, “We have arrangements with the nearest hospitals whereby there is a seamless entry of the patient in the hospital as the patient’s medical history and data is already shared. This ensures the shortest possible admission in the hospital and one has the best chance of recovery. “Obviously, these don’t happen overnight or on their own. These are practiced, drilled down the legacy line, checked and audited to ensure this happens seamlessly,” he adds.   Giving you the PEACE of MIND Families in India are strongly bonded with love, care, and empathy. Despite all the facilities that their parents might be receiving at senior living communities, kids always have one corner of their brain engaged thinking about their wellbeing. To give them peace of mind, Columbia Pacific Communities is developing a software which will provide all the necessary updates about their residents to their kin. Whether it is their daily walk, health checkup, medial test reports, or others, the software will instantly update the children about their parents’ day-to-day activities. Not just this, the residents can do a lot using the software. They can connect the residents with the community operations, their neighbours and should they wish, it will also be accessible to their friends and family. “They should be able to use the technology platform to do everything they wish to, whether it is booking a seat for a film, sending an invitation to another friend in the same community asking to book his/her seat, while also notifying their children about it. The idea behind developing this technology platform is to reduce distances while ensuring our resident’s privacy,” explains Mohit. “The world is a strange place! People, culture, food, taste and almost everything differ from country to country”   The team that makes it POSSIBLE Great work isn’t possible without a great team, and Columbia Pacific Communities is proud of its members, whether its doctors, nurses, drivers, housekeeping staff, cooks, service personnel, operations teams and others. Hence it ensures that people offering the most critical services stay within the communities. But where the costs are much higher, the staff stays at homes near the community rented by the company. “Our teams are generally led by Resident Managers and are divided into departments like security, housekeeping, engineering, nursing, gardener and others, mostly staying within the community for easy access,” says Mohit. To ensure utmost safety, Columbia Pacific Communities does the background verification of every employee at the community level. “Families in India are strongly bonded with love, care, and empathy. Despite all the facilities that their parents might be receiving at senior living communities”   The VOID that needs FILLING Having all the necessary licenses required to operate senior living communities in India (RERA, food safety and sanitation and basic clinic license), Columbia Pacific Communities has footed its roots at the right place. However, unlike the West, the ecosystem in India is not highly regulated and there is much that needs to be done to promote senior living communities in the country. Hence the company and few others together have created Association of Senior Living in India (ASLI). ASLI engages with the government on various issues pertaining to senior living, whether it’s allocating a land for the community within the city, or higher pay to the maid and cooks in the structure form due to the inclusion of GST, which they wouldn’t have paid in the unstructured manner. “There is a concept of reverse mortgage, where 90 per cent of our residents know that the house they are living in will not be used by their children. So why not allow them to take advantage of this through the reverse mortgage model,” questions Mohit, adding, “There are many such things that can be done to make senior living a little easier and happy. Hence, we try to reach out to the government through ASLI.” Columbia Pacific Communities is not just appealing to the government to make senior living a breeze but is also engaged in creating awareness among citizens. It sees a huge opportunity and demand for such communities in the coming days and hence is working on adding 20 more communities at the rate of four every year for the next five year in various stages of design or possession. Mohit signs off by saying, “Bricks and cement will finish, but the demand for senior living communities in India will not.”. And if the United Nations Population Fund and HelpAge India’s report is anything to go by, Mohit has more than a point because India’s elderly population will grow to 173 million by 2026.   Mohit Nirula, CEO Having a great career spanning over three decades, Mohit has largely built his career graph at The Oberoi Group. Within a decade of his role in the organization, he took leadership roles across various brands of The Oberoi Group and across geographies. At Columbia Pacific Communities, he uses his learning of the past three decades to build a world class senior living community to provide a safe, secure, and engaging lifestyle in an environment of genuine warmth and care.

20 years ago, when Daniel R. Baty ­ the legend who established Columbia Pacific Group in Seattle in 1989 and championed the concept of senior living ­ visited India, he found that the country wasn’t ready for senior living communities. 17 years later when Daniel visited India again, he still felt that the country was not culturally ready for the change, but socially it had opened up to adapt to the global shift. Hence, he decided to offer senior living communities that are world class, safe and secure, giving peace of mind to seniors and their kin. “Social and demographic changes coupled with increasing wealth is leading middle-class Indians to live as nuclear families. Today, parents are willing to let their kids live free, grow, and be global citizens instead of clipping their wings. On the other hand, their children want their parents to live in a community that is supporting and letting them stay away from early aging ­ a community that steals their loneliness and provides them the opportunity to live a life they always wanted to,” explains Mohit Nirula, CEO, Columbia Pacific Communities. He continues, “What makes a senior living community successful is the way it is designed, run and managed which makes seniors live healthier, far longer because it is an extremely healthy, engaging, and active environment. So, the thought of removing loneliness and making them live longer and healthier is why it is the right time for us to think of senior living communities.” With this concept, Daniel and Mohit established Columbia Pacific Communities ­ India’s largest senior living operator. The company is a full service and solution provider in India, providing a range of services to its senior clients, starting from relocation services, valet parking, guest services, concierge services, Wi-Fi, health, and wellness centre, housekeeping, library, food, spa, technicians team, legal and administrative help, technology assistant, courier and postage services, religious rituals and ceremonies, horticulture, event planning, evacuation drills, and several others. What more? To ensure top class services without compromising on the quality of its offerings, Columbia Pacific Communities has divided its business into three sections ­ the first is real estate where it ensures acquiring land at the most suitable location, designing and constructing the building, and then selling it to future residents. The second section is based on hospitality and services. Mohit explains, “The reason why people buy homes in communities for seniors is not much for the home but for the services that they need from the day they move in and the services they require at the growing age over time. Hence, our services at the hospitality context are essential and integral to senior living communities.” The third section of the business is built on the foundation of healthcare. Columbia Pacific Communities understands that as people age over time, there needs to be a community to stand by them in terms of their medical needs, whether it is today or tomorrow. “Columbia Pacific Communities is an amalgamation of real estate, hospitality and healthcare. We stand strong by our promise of world class healthcare and our healthcare partner Columbia Asia Hospital empowers us to do so. We and the hospital are promoted by the promoters of Columbia Pacific Group. We are glad to have the four decades of international experience of the Group that is acting as our guiding light,” explains Mohit. In essence, this is what Columbia Pacific Communities is. The future residents of the communities get a home, world class services and healthcare, all under one roof. To ensure `no compromise’ on its level of services, the company sometimes partners with real estate developers to take advantage of their experience, whether it’s bringing in land in great locations at a reasonable price, or the ability to get approval or the economies of scale that comes in construction, cost and others. “And we bring in the design aspects because of our four decades of legacy in understanding the senior living community design, sales and marketing, and operations in healthcare. Between both the companies, the person who benefits the most are our future residents,” explains Mohit.   The JOURNEY, the GROWTH and the EXCELLENCE The world is a strange place! People, culture, food, taste and almost everything differ from country to country. But in India, this difference can be noted from region to region. With thousands of languages, cultures, dialects, food habits and more, it is difficult to paint them all with a single brush. Hence customization/personalization becomes more important. So, Columbia Pacific Communities followed a differential approach to ensure they meet every client’s needs. Mohit asserts, “The very first step post establishing a base in the country was to acquire companies which allowed us the privilege to serve nine communities. And all of these in just two and a half years ­ serving 3,000 seniors in 1,600 homes spread across nine communities in five cities of Tamil Nadu, Karnataka and Puducherry. This proved as a learning lesson for us as well, where we got to know what works well and what works better while serving and looking after our residents, and putting the experience into use, we have started looking into designing our own communities.” The company has recently launched its 10th community called The Virtuoso Club and Serviced Residences, in Bangalore. The project is under construction and is likely to get completed by October 2022. Columbia Pacific Communities has also entered into a 50-50 joint venture with Embassy Group in Bangalore, one of the region’s finest developers and with Nyati Group in Pune. The company will shortly add projects in Chennai, Kolkata and Hyderabad. Mohit feels that there is a lot of growth and excitement within the company and the organization is really keen on fulfilling its vision of being the country’s largest, best and most preferred developers for community living for seniors. While the world was still fighting the pandemic, Columbia Pacific Communities experienced a considerable growth. “It’s been a busy two and a half years because of the good work done by our team. Remember we are still fighting a pandemic which has impacted seniors in the worst possible manner. However, our team’s hard work is ensuring we remain busier for the next two and a half years”. He continues, “Especially in the past 10 months, ever since we realised that we have to be acutely watchful of what the pandemic can do to our community, we have ring fenced our communities completely to isolate from the external environment and provide our residents all the services they needed within the communities without having them to expose them to any external threat.” Going a step forward, Columbia Pacific Communities took cognizance of the fact that social distancing doesn’t result in social out-passing or loneliness for their community residents. It had every protocol in place to ensure senior citizens live actively engaged social lives without putting them at risk.   The Three PROMISES Standing strong on the three pillars of zero-headache lifestyle, positive aging, and a community standing with you, Columbia Pacific Communities walk each of them, literally. From security needs to housekeeping needs, both in the community and inside the house, from daily and monthly cleaning to preventive cleaning, from watering your plants to taking care of your dining needs including special food requirements due to medical or health reasons, seniors get every facility within the boundaries of the communities. This ensures zero-headache, and they have all the time to themselves to spend walking, playing, listening to music, visiting friends, or watching movies. `Positive aging’ is a special brand promise of Columbia Pacific Communities. It’s not just two magical words but it actually creates magic by de-linking one’s physical age with the concept of aging. “Just because you are 60 doesn’t mean you have to act like you are 60. We would want you to be physically fitter, mentally more alert, intellectually more stimulated and spiritually more enlightened in a social environment,” Mohit highlights. Hence, Columbia Pacific Communities has a packed resident engagement programme that gives people the opportunity and space to engage with like-minded people in their pursuits. This keeps one healthier for longer because one is not sitting idly on the couch staring at the TV and holding the remote. Mohit underlines a very important aspect of aging. He says, “With aging, the radius of your ability to interact with people gets smaller as you have to depend on various factors including a driver, a car, traffic, parking space and more. These hassles might confine your thoughts to go out to any function or meet someone staying at the other corner of the city. Hence our programs ensure that our senior residents spend a lot of time outside in the common areas, thus ensuring they age positively. Built on the foundation of healthcare, Columbia Pacific Communities stands with its residents. Hence it offers 24/7 nurse, driver availability, and 24/7 ambulance on standby. The communities also have doctors visiting on a daily basis, while the premium segments have doctors available throughout the day. This ensures the residents’ needs are addressed instantly. The company also has relationships with nearby hospitals and offers residents the `Golden Hour’, during which a resident can be shifted from his/her bed to a hospital bed within 60 minutes in case of any emergency. Mohit asserts, “We have arrangements with the nearest hospitals whereby there is a seamless entry of the patient in the hospital as the patient’s medical history and data is already shared. This ensures the shortest possible admission in the hospital and one has the best chance of recovery. “Obviously, these don’t happen overnight or on their own. These are practiced, drilled down the legacy line, checked and audited to ensure this happens seamlessly,” he adds.   Giving you the PEACE of MIND Families in India are strongly bonded with love, care, and empathy. Despite all the facilities that their parents might be receiving at senior living communities, kids always have one corner of their brain engaged thinking about their wellbeing. To give them peace of mind, Columbia Pacific Communities is developing a software which will provide all the necessary updates about their residents to their kin. Whether it is their daily walk, health checkup, medial test reports, or others, the software will instantly update the children about their parents’ day-to-day activities. Not just this, the residents can do a lot using the software. They can connect the residents with the community operations, their neighbours and should they wish, it will also be accessible to their friends and family. “They should be able to use the technology platform to do everything they wish to, whether it is booking a seat for a film, sending an invitation to another friend in the same community asking to book his/her seat, while also notifying their children about it. The idea behind developing this technology platform is to reduce distances while ensuring our resident’s privacy,” explains Mohit. “The world is a strange place! People, culture, food, taste and almost everything differ from country to country”   The team that makes it POSSIBLE Great work isn’t possible without a great team, and Columbia Pacific Communities is proud of its members, whether its doctors, nurses, drivers, housekeeping staff, cooks, service personnel, operations teams and others. Hence it ensures that people offering the most critical services stay within the communities. But where the costs are much higher, the staff stays at homes near the community rented by the company. “Our teams are generally led by Resident Managers and are divided into departments like security, housekeeping, engineering, nursing, gardener and others, mostly staying within the community for easy access,” says Mohit. To ensure utmost safety, Columbia Pacific Communities does the background verification of every employee at the community level. “Families in India are strongly bonded with love, care, and empathy. Despite all the facilities that their parents might be receiving at senior living communities”   The VOID that needs FILLING Having all the necessary licenses required to operate senior living communities in India (RERA, food safety and sanitation and basic clinic license), Columbia Pacific Communities has footed its roots at the right place. However, unlike the West, the ecosystem in India is not highly regulated and there is much that needs to be done to promote senior living communities in the country. Hence the company and few others together have created Association of Senior Living in India (ASLI). ASLI engages with the government on various issues pertaining to senior living, whether it’s allocating a land for the community within the city, or higher pay to the maid and cooks in the structure form due to the inclusion of GST, which they wouldn’t have paid in the unstructured manner. “There is a concept of reverse mortgage, where 90 per cent of our residents know that the house they are living in will not be used by their children. So why not allow them to take advantage of this through the reverse mortgage model,” questions Mohit, adding, “There are many such things that can be done to make senior living a little easier and happy. Hence, we try to reach out to the government through ASLI.” Columbia Pacific Communities is not just appealing to the government to make senior living a breeze but is also engaged in creating awareness among citizens. It sees a huge opportunity and demand for such communities in the coming days and hence is working on adding 20 more communities at the rate of four every year for the next five year in various stages of design or possession. Mohit signs off by saying, “Bricks and cement will finish, but the demand for senior living communities in India will not.”. And if the United Nations Population Fund and HelpAge India’s report is anything to go by, Mohit has more than a point because India’s elderly population will grow to 173 million by 2026.   Mohit Nirula, CEO Having a great career spanning over three decades, Mohit has largely built his career graph at The Oberoi Group. Within a decade of his role in the organization, he took leadership roles across various brands of The Oberoi Group and across geographies. At Columbia Pacific Communities, he uses his learning of the past three decades to build a world class senior living community to provide a safe, secure, and engaging lifestyle in an environment of genuine warmth and care.

Well-being of senior citizens or elders around you – be it medical, physical or emotional support, should be taken care. In fact, 25% of seniors over 60 years may suffer from mental or neurological disorders. In a world turned upside down by the pandemic, a change in the perception of mental health has taken place, bringing to the forefront our ageing population and their mental well-being. With a significant increase in this demography, isolation from family members, physical, and often financial problems are some of the major reasons for many seniors to not be in a “good place” as they grow older. In fact, 25 % of seniors over 60 years may suffer from mental or neurological disorders. Mental health problems common among seniors include isolation, anxiety disorders, dementia and psychosis. Many suffer from sleep and behavioral disorders, cognitive deterioration or confusion as a result of physical disorders or surgical interventions. Community and mental well-being Being social beings, humans are not meant to live in isolation.  A community is critical for us to thrive and survive. The simplest, most important element of a community is connection. It is what gives meaning to people’s lives. A community provides a sense of belonging. A community will embrace and accept their unique qualities and help them adjust to the qualities of others. A feeling of belonging helps mental well-being exponentially. Support Be it medical, physical or emotional support, a community will help them through difficult situations that might make them feel desolate. Purpose A community with a vibrant and connected environment is perfect to ensure that seniors are content and can age gracefully. There is help for the physical aspects of their health as well as activities to help them stay engaged socially and stimulated mentally. Safe and yet independent A safe community helps seniors keep their independence, relieves mental stress and creates an atmosphere of positivity. How can you contribute to the well-being of elders around you? Helping seniors with mental health issues is quite simple. All you have to do is reach out to show your concern and support. – Listen to them, ask questions about their concerns, assure them that help is available, mental illness is treatable and not a taboo. – Include seniors in your plans without being overbearing, even when they resist your invitations. – Educate other people on the facts about mental health problems. – Treat people with mental health problems with respect, compassion, and empathy. – Be a friend by finding time for them and their needs and giving them a sense of purpose. – Make their homes a safe place to live in (for e.g., by installing anti-skid tiles and grips in toilets, security devices on main doors).

Well-being of senior citizens or elders around you – be it medical, physical or emotional support, should be taken care. In fact, 25% of seniors over 60 years may suffer from mental or neurological disorders. In a world turned upside down by the pandemic, a change in the perception of mental health has taken place, bringing to the forefront our ageing population and their mental well-being. With a significant increase in this demography, isolation from family members, physical, and often financial problems are some of the major reasons for many seniors to not be in a “good place” as they grow older. In fact, 25 % of seniors over 60 years may suffer from mental or neurological disorders. Mental health problems common among seniors include isolation, anxiety disorders, dementia and psychosis. Many suffer from sleep and behavioral disorders, cognitive deterioration or confusion as a result of physical disorders or surgical interventions. Community and mental well-being Being social beings, humans are not meant to live in isolation.  A community is critical for us to thrive and survive. The simplest, most important element of a community is connection. It is what gives meaning to people’s lives. A community provides a sense of belonging. A community will embrace and accept their unique qualities and help them adjust to the qualities of others. A feeling of belonging helps mental well-being exponentially. Support Be it medical, physical or emotional support, a community will help them through difficult situations that might make them feel desolate. Purpose A community with a vibrant and connected environment is perfect to ensure that seniors are content and can age gracefully. There is help for the physical aspects of their health as well as activities to help them stay engaged socially and stimulated mentally. Safe and yet independent A safe community helps seniors keep their independence, relieves mental stress and creates an atmosphere of positivity. How can you contribute to the well-being of elders around you? Helping seniors with mental health issues is quite simple. All you have to do is reach out to show your concern and support. – Listen to them, ask questions about their concerns, assure them that help is available, mental illness is treatable and not a taboo. – Include seniors in your plans without being overbearing, even when they resist your invitations. – Educate other people on the facts about mental health problems. – Treat people with mental health problems with respect, compassion, and empathy. – Be a friend by finding time for them and their needs and giving them a sense of purpose. – Make their homes a safe place to live in (for e.g., by installing anti-skid tiles and grips in toilets, security devices on main doors).

FINANCE MINISTER NIRMALA SITHARAMAN PRESENTED HER THIRD AND NARENDRA MODI GOVERNMENT’S NINTH BUDGET ON FEBRURARY 1, 2021. INDUSTRY LEADERS FROM VARIOUS SECTORS LIKE REAL ESTATE, CONSTRUCTION, RETAIL, COWORKING, DEVELOPERS AND BUILDING MATERIALS EXPRESSED THEIR VIEWS AND OPINION ON THE MOST CRUCIAL AND IMPORTANT BUDGET OF THIS UNPRECEDENT TIME. The government has played a tough balancing act between providing demand impetus and keeping a watch on fiscal deficit. Though real estate has not got anything directly from this budget, there are announcements that will indirectly help the sector. Dr. Niranjan Hiranandani, National President NAREDCO, commenting on the Annual Budget, said, “It is a get well soon type of Budget, the ‘V’ shaped recovery being powered by the Covid-19 vaccination program. Given the challenged scenario, the proposed annual budget has been largely positive, no major taxation enhancement is something that is welcome. As the Prime Minister pointed out last year saw mini budgets across the pandemic impacted time frame; the unsaid thing for most industries across the economy is that similar steps may happen with more positives in the offing. Continued focus on ‘Minimum Government, Maximum Governance’ will enhance ‘ease of doing business’, this government spending will provide stimulus for GDP growth, and is laudable.” Jaxay Shah, National Chairman CREDAI “The Indian Government has proved its mettle by presenting a landmark Union Budget 2021–2022, which majorly focuses on post-COVID revival of the Indian economy. It rightly prioritizes Healthcare, Infrastructure, MSME, Renewable Energy and Start-ups as the key drivers of India’s economic growth and prosperity. The key announcements have been wellreceived by most industry experts and thought leaders. The Budget is pro-citizen as the Indian Government has not levied any COVID cess despite the humungous Government spending to mitigate the impact of pandemic.” AFFORDABLE HOUSING To boost housing demand, the budget has proposed to extend the date of availing an additional Rs 1.5 lakh tax deduction on home loan interest by one more year till 31 March 2022. Furthermore, to keep up supply of affordable houses, an announcement that affordable housing projects can avail a tax holiday for one more year till 31 March 2022 will help real estate developers, and in turn, NBFCs lending to the real estate sector. A one-year extension for developers till March 2022 to claim a 100% tax deduction for affordable housing projects and for affordable rental housing projects benefits will also benefit the developers and the housing finance companies and NBFCs lending to the real estate sector. Sankey Prasad, FRICS, Chairman & Managing Director (India), Colliers International said, “The government continues to focus on affordable housing by extending income tax benefits to both the demand and supply side since this is the most underserved segment in housing. Further, the budget is aimed at unlocking capital tied up in stressed assets, inefficient public sector undertakings, and bank reserves against bad debts. At the same time, there is an opportunity for investors, with the priority to attract large volumes of institutional (including foreign) capital by providing more flexibility to REITs. Hence, we expect this year’s budget to have a steady and meaningful impact on the real estate sector’s fortunes over the next two years.” The real estate expects enhanced ease of doing business for the developers and is optimistic that with green shoots in the economy in sight, the real estate sector is ready for explosive growth. Manoj Gaur, CMD, Gaurs Group & Chairman, Affordable Housing Committee, CREDAI (National) offered another perspective, “Though the number of announcements regarding the real estate sector were few, the sector is all set to gain from the measures taken to strengthen the economy through job creation and asset management. The players in affordable housing segment will get encouragement from tax holiday being extended for one more year; we would see more developers entering the segment in the coming year. The buyers also got benefit when the government extended Rs 1.5 loans to purchase affordable house by one year. But, the long standing demand of giving industry status to the sector has again been ignored.” Achal Raina, COO, Raheja Developers added, “The developers needed measures that can help them in developing the projects on time such as help in loans from banks, single-window clearance, ITC benefit, etc. These topics were not touched upon by the FM and we expect that the government will take care of these soon. The FM has announced measures that might streamline the funds; the real estate sector need financing for incomplete viable projects, and we hope that banks will extend help to the realty sector.” Sushil Mohta, Chairman, Merlin Group and President, Credai West Bengal, satetd, “We welcome the big picture of boosting the FDI, Ease of doing Business on the Tax administration and compliance. We expected necessary sops to the real estate sector to revive like reduction of GST on under construction projects and bringing back Input tax credit. We expected more liquidity to buyers to boost the consumption by raising the ceiling of the rebate on the home loan interest from Rs 2 lakh to Rs 5 lakhs. This could have proved to be a helpful measure to attract more and more customers to invest in properties. .” The extension of one year on the additional deduction of affordable housing and the extension of the tax holiday on affordable housing is a right step towards ‘Housing for All’ initiative.  INFRASTRUCTURE BOOST This Budget focuses on augmenting infrastructure with a special focus on expediting urban infrastructure projects which will act as a strong catalyst in driving real estate in urban areas. There is also a continued thrust on the agriculture sector which is likely to result in higher incomes and drive consumption. Another important initiative is the allocation for the improvement of the urban transport system, which can be a booster dose for real estate and housing sector. Foreign Portfolio Investors (FPIs) will also be enabled to debt finance REITs and InvITs after necessary amendments to the law. “The emphasis given on urban infrastructural development through the expansion of the metro rail network will help in seamless connectivity in Tier-II cities along with other prevailing announcements like RRTS, freight corridors will give thrust to the realty sector,” said Santosh Agarwal, CFO and Executive Director, AlphaCorp “Debt Financing of InVITs and REITs by foreign investors will be made seamless through required alterations in the applicable law. This would ease and increase the funds channel for real estate sectors. Additionally, tax benefits to be extended and an increase in the current ceiling on property value are expected. Furthermore, the government is looking at implementing strict regulations for delayed or deferred payments timely payment regulates the momentum of the industry.” Amit Goenka, MD & CEO at Nisus Finance. FISCAL INCENTIVES Setting up of Development Finance Institution to address funding gaps, highest infrastructure spending, recapitalization of banks, boost to divestment, and monetization of government assets will surely ensure an increase in the growth momentum. Portal to maintain information on gig workers and construction workers is a welcome move. As also the the major proposal for the road, rail and airport infrastructure for a robust public transport. This will ease the mobility and now people will also think about property investments outside the city. Senior citizens above 75 years will not be required to file income tax returns provided they are earning only from pension and interestFor senior citizens above 60 years income up to Rs 3 lakhs per year is not taxable while for those above 80 years income up to Rs 5 lakhs is not taxable. Ajay Piramal, Chairman, Piramal Group commented, “The Budget’s high focus on public capital expenditure, relaxing fiscal deficit targets and concrete plans to support financial markets through recapitalisation of public sector banks, and an asset reconstruction company for bad loans will provide the necessary impetus to restore economic growth. While the Budget is cognizant of the country’s immediate economic needs, it also lays out a medium term vision of 3-5 years. Furthermore, the introduction of a Development Finance Institution (DFI) to fund long term projects will complement the high focus on infrastructure. With banks remaining evasive towards long term institutional exposures, the DFI is expected to ensure availability of credit for projects with long gestation periods.” Alok Saraf, Associate Partner. Grant Thornton Advisory Pvt Ltd was of the view that FM had a very limited elbow room for any big bang announcement given the over looming fiscal deficit. “On an overall basis the budget 2021 was pragmatic. Markets have cheered that there was no new introduction of additional income tax cess which means the personal tax regime remains unchanged.” “The proposed easing of restrictions on leverage by InvITs/ REITs will attract more REITs listings and thus higher investments into real estate. The announced monetisation of surplus land of government and government bodies is a welcome move; however, the implementation will need to be monitored,” added Dr. Samantak Das, Chief Economist and Head of Research, JLL India.  Real estae’s unfulfilled demands include, allowing FDI in ready to move in inventory to improve liquidity in the market, granting industry status, extending the tax benefit from affordable to mid housing and allocating additional capital for distressed funds. Sharing his opinion, Mohit Nirula, CEO, Columbia Pacific Communities on union budget from a senior care perspective said, “Senior citizens constitute 9% of the population.  This number will progressively increase to be 20% by 2050.  Our seniors are currently battling high inflation, dropping interest rates, increasing medical expenses and the second highest GST slab rates on in-home services.  We are not sure if relief from filing returns on income tax is adequate recognition for a lifetime of service to the nation.”

FINANCE MINISTER NIRMALA SITHARAMAN PRESENTED HER THIRD AND NARENDRA MODI GOVERNMENT’S NINTH BUDGET ON FEBRURARY 1, 2021. INDUSTRY LEADERS FROM VARIOUS SECTORS LIKE REAL ESTATE, CONSTRUCTION, RETAIL, COWORKING, DEVELOPERS AND BUILDING MATERIALS EXPRESSED THEIR VIEWS AND OPINION ON THE MOST CRUCIAL AND IMPORTANT BUDGET OF THIS UNPRECEDENT TIME. The government has played a tough balancing act between providing demand impetus and keeping a watch on fiscal deficit. Though real estate has not got anything directly from this budget, there are announcements that will indirectly help the sector. Dr. Niranjan Hiranandani, National President NAREDCO, commenting on the Annual Budget, said, “It is a get well soon type of Budget, the ‘V’ shaped recovery being powered by the Covid-19 vaccination program. Given the challenged scenario, the proposed annual budget has been largely positive, no major taxation enhancement is something that is welcome. As the Prime Minister pointed out last year saw mini budgets across the pandemic impacted time frame; the unsaid thing for most industries across the economy is that similar steps may happen with more positives in the offing. Continued focus on ‘Minimum Government, Maximum Governance’ will enhance ‘ease of doing business’, this government spending will provide stimulus for GDP growth, and is laudable.” Jaxay Shah, National Chairman CREDAI “The Indian Government has proved its mettle by presenting a landmark Union Budget 2021–2022, which majorly focuses on post-COVID revival of the Indian economy. It rightly prioritizes Healthcare, Infrastructure, MSME, Renewable Energy and Start-ups as the key drivers of India’s economic growth and prosperity. The key announcements have been wellreceived by most industry experts and thought leaders. The Budget is pro-citizen as the Indian Government has not levied any COVID cess despite the humungous Government spending to mitigate the impact of pandemic.” AFFORDABLE HOUSING To boost housing demand, the budget has proposed to extend the date of availing an additional Rs 1.5 lakh tax deduction on home loan interest by one more year till 31 March 2022. Furthermore, to keep up supply of affordable houses, an announcement that affordable housing projects can avail a tax holiday for one more year till 31 March 2022 will help real estate developers, and in turn, NBFCs lending to the real estate sector. A one-year extension for developers till March 2022 to claim a 100% tax deduction for affordable housing projects and for affordable rental housing projects benefits will also benefit the developers and the housing finance companies and NBFCs lending to the real estate sector. Sankey Prasad, FRICS, Chairman & Managing Director (India), Colliers International said, “The government continues to focus on affordable housing by extending income tax benefits to both the demand and supply side since this is the most underserved segment in housing. Further, the budget is aimed at unlocking capital tied up in stressed assets, inefficient public sector undertakings, and bank reserves against bad debts. At the same time, there is an opportunity for investors, with the priority to attract large volumes of institutional (including foreign) capital by providing more flexibility to REITs. Hence, we expect this year’s budget to have a steady and meaningful impact on the real estate sector’s fortunes over the next two years.” The real estate expects enhanced ease of doing business for the developers and is optimistic that with green shoots in the economy in sight, the real estate sector is ready for explosive growth. Manoj Gaur, CMD, Gaurs Group & Chairman, Affordable Housing Committee, CREDAI (National) offered another perspective, “Though the number of announcements regarding the real estate sector were few, the sector is all set to gain from the measures taken to strengthen the economy through job creation and asset management. The players in affordable housing segment will get encouragement from tax holiday being extended for one more year; we would see more developers entering the segment in the coming year. The buyers also got benefit when the government extended Rs 1.5 loans to purchase affordable house by one year. But, the long standing demand of giving industry status to the sector has again been ignored.” Achal Raina, COO, Raheja Developers added, “The developers needed measures that can help them in developing the projects on time such as help in loans from banks, single-window clearance, ITC benefit, etc. These topics were not touched upon by the FM and we expect that the government will take care of these soon. The FM has announced measures that might streamline the funds; the real estate sector need financing for incomplete viable projects, and we hope that banks will extend help to the realty sector.” Sushil Mohta, Chairman, Merlin Group and President, Credai West Bengal, satetd, “We welcome the big picture of boosting the FDI, Ease of doing Business on the Tax administration and compliance. We expected necessary sops to the real estate sector to revive like reduction of GST on under construction projects and bringing back Input tax credit. We expected more liquidity to buyers to boost the consumption by raising the ceiling of the rebate on the home loan interest from Rs 2 lakh to Rs 5 lakhs. This could have proved to be a helpful measure to attract more and more customers to invest in properties. .” The extension of one year on the additional deduction of affordable housing and the extension of the tax holiday on affordable housing is a right step towards ‘Housing for All’ initiative.  INFRASTRUCTURE BOOST This Budget focuses on augmenting infrastructure with a special focus on expediting urban infrastructure projects which will act as a strong catalyst in driving real estate in urban areas. There is also a continued thrust on the agriculture sector which is likely to result in higher incomes and drive consumption. Another important initiative is the allocation for the improvement of the urban transport system, which can be a booster dose for real estate and housing sector. Foreign Portfolio Investors (FPIs) will also be enabled to debt finance REITs and InvITs after necessary amendments to the law. “The emphasis given on urban infrastructural development through the expansion of the metro rail network will help in seamless connectivity in Tier-II cities along with other prevailing announcements like RRTS, freight corridors will give thrust to the realty sector,” said Santosh Agarwal, CFO and Executive Director, AlphaCorp “Debt Financing of InVITs and REITs by foreign investors will be made seamless through required alterations in the applicable law. This would ease and increase the funds channel for real estate sectors. Additionally, tax benefits to be extended and an increase in the current ceiling on property value are expected. Furthermore, the government is looking at implementing strict regulations for delayed or deferred payments timely payment regulates the momentum of the industry.” Amit Goenka, MD & CEO at Nisus Finance. FISCAL INCENTIVES Setting up of Development Finance Institution to address funding gaps, highest infrastructure spending, recapitalization of banks, boost to divestment, and monetization of government assets will surely ensure an increase in the growth momentum. Portal to maintain information on gig workers and construction workers is a welcome move. As also the the major proposal for the road, rail and airport infrastructure for a robust public transport. This will ease the mobility and now people will also think about property investments outside the city. Senior citizens above 75 years will not be required to file income tax returns provided they are earning only from pension and interestFor senior citizens above 60 years income up to Rs 3 lakhs per year is not taxable while for those above 80 years income up to Rs 5 lakhs is not taxable. Ajay Piramal, Chairman, Piramal Group commented, “The Budget’s high focus on public capital expenditure, relaxing fiscal deficit targets and concrete plans to support financial markets through recapitalisation of public sector banks, and an asset reconstruction company for bad loans will provide the necessary impetus to restore economic growth. While the Budget is cognizant of the country’s immediate economic needs, it also lays out a medium term vision of 3-5 years. Furthermore, the introduction of a Development Finance Institution (DFI) to fund long term projects will complement the high focus on infrastructure. With banks remaining evasive towards long term institutional exposures, the DFI is expected to ensure availability of credit for projects with long gestation periods.” Alok Saraf, Associate Partner. Grant Thornton Advisory Pvt Ltd was of the view that FM had a very limited elbow room for any big bang announcement given the over looming fiscal deficit. “On an overall basis the budget 2021 was pragmatic. Markets have cheered that there was no new introduction of additional income tax cess which means the personal tax regime remains unchanged.” “The proposed easing of restrictions on leverage by InvITs/ REITs will attract more REITs listings and thus higher investments into real estate. The announced monetisation of surplus land of government and government bodies is a welcome move; however, the implementation will need to be monitored,” added Dr. Samantak Das, Chief Economist and Head of Research, JLL India.  Real estae’s unfulfilled demands include, allowing FDI in ready to move in inventory to improve liquidity in the market, granting industry status, extending the tax benefit from affordable to mid housing and allocating additional capital for distressed funds. Sharing his opinion, Mohit Nirula, CEO, Columbia Pacific Communities on union budget from a senior care perspective said, “Senior citizens constitute 9% of the population.  This number will progressively increase to be 20% by 2050.  Our seniors are currently battling high inflation, dropping interest rates, increasing medical expenses and the second highest GST slab rates on in-home services.  We are not sure if relief from filing returns on income tax is adequate recognition for a lifetime of service to the nation.”