Deepak Gupta
Deepak has 35 years of global experience in management consulting, banking, executive search and now in senior living and wellness. He has been a Senior Advisor & Advisory Board member to companies and management universities.
Sheeza Kazmi
Director of Marketing & Strategies
Welcome to Direct Talk with Sheeza
Direct Talk is a bouquet of engaging conversations with eminent real estate personalities and leaderships. Sheeza Kazmi Pandey – Director of Marketing and strategies at Evente Clinic discusses various aspects of real estate with the people that matter the most. Get the real insight of a brands vision only here.
Tell us why there is a demand for senior living projects in India
Both the share and size of elderly population is increasing over time. From ** 5.6% in 1961, 7.4% in 2001, 8.6% in 2011 and it is projected to rise to 12.4% of population by the year 2026. In case of large number of elderly persons in the population, the country needs more and more health and medical services, facilities and resources.
This is where Senior Living comes in, both in the affordable and luxury segments. The pressure on hospitals needs to be channeled so that they are free to focus on the sick whether young or old. Preventive, holistic, integrative medicine can be a very cost effective and medically beneficial offering that can be included in senior living facilities to reduce some of the dependence and high costs of allopathic medical care and pressure on hospitals.
In addition, the number of nuclear families in absolute terms increased from *** 135 million in 2001 to 172 million in 2011, but at a slower pace than the overall population. Which means that the area that is most affected is related to the care of ageing parents. However, on the flip side, parents feel that they do not want to burden their children with responsibility, which in some cases also results in children having to make choices that limit their career growth. Again, Senior Living is the answer.
Therefore, there is and will be a demand for Senior Living. What type of senior living and at what price can vary based on the type of offering, but it is definitely the need of the hour.
We have old age homes already. How are senior living projects different?
Old age homes, historically, have always been very basic in nature and many times run by charitable institutions/NGOs. Now, a 360 degrees makeover has happened in the senior living space and Senior Independent Living projects have come up fully equipped to meet the specific needs and requirements of seniors and also providing recreation, luxury, etc.
These independent living spaces are designed in such a way that they provide the highest level of safety and comfort for our elderly in addition to luxury, recreation, etc. Some of the features that you get to see are:
- Medical assistance: Medical emergencies are unpredictable. Hence, there is round-the-clock emergency support systems for the residents, with doctors, nurses, ambulance service, proximity to a multi specialty hospital and appropriate medication for contingencies.
- Interiors that are age appropriate: For e.g. adequate lighting, anti-skid floors, emergency panic buttons in rooms, bathrooms equipped with grab-bars and so on.
- Safe atmosphere: These Senior Living homes are equipped with CCTV cameras and security guards are available round the clock.
- Well equipped: Even the elderly need to have an active lifestyle. Thus, these independent living homes have adequate indoor and outdoor activities, swimming pools, yoga centers, fitness hubs and much more.
- Assistance: This is related to housekeeping or any mundane requirement for seamless and comfortable living.
What are the benefits and incentives for a person to purchase a unit in a senior living project?
The incentive should be oneself. Having worked hard to raise a family and settle the children, now these young seniors have the luxury to choose when to slow down / retire from full time work and also be able to choose the luxury home that they would like to spend the rest of their lives in.
- Today most young seniors seem keen to lead independent lives, away from the hectic lifestyles prevalent in the big cities. The next incentive is “Children”. It is a win-win situation for both parents and children as both parties lead stress-free lives. The younger generation can now follow their dream to acquire a comfortable lifestyle and to live independently, without compromising with their passion or ambition. The seniors, too, can be content with this transition as they can also lead lives that are unrestrained and yet dignified and self-reliant.
- Benefits are many. Safety, security, comfort, medical support, housekeeping, food and other assistance and the most important is the quality of life and companionship with like-minded people. Moreover, if you are living in a place like Eden Senior Living & Wellness in Dehradun for example, then you have the benefit of preventive, holistic integrative wellness and healthcare, all in one place.
Every once in a while we have seen how real estate promoters promise the moon but falter on delivery. How can senior living customers trust an entity in this backdrop? What are the parameters one should select so that due diligence is properly done?
Eden is a realization of a dream, which all the three promoters share and bring their professional experience of decades to the table to make it a reality. With our feet firmly on ground and our head on our shoulders we have undertaken Eden on a scale we can manage – 96 apartments on eight levels with two levels dedicated to a wellness and lifestyle center.
Ours is probably the only payment option that you can find in the market that promises a guaranteed buyback. If at the end of three years the buyer thinks Eden is not for him, for any reason, then we will buy it back at the pre-agreed guaranteed buy back rate, which also provides for appreciation.
Some parameters amongst others that buyers could look into are:
- Land ownership
- RERA clearance
- Track record of promoters of appreciation and delivery of previous projects
- Penalty clause
- Bank Approval: as banks do their due diligence on land ownership and promoters before approval.
Tell us about Eden Senior Living & Wellness. What are your business credentials and what are your plans in the senior living space?
At, Eden Senior Living & Wellness, we believe that life is for living to the fullest, more so in one’s latter years. Our gracious luxury senior living apartments are designed keeping seniors in mind for all spaces, including the circulation, washrooms, toilets, and wellness facilities. Wide corridors and ramps eliminate the need for steps. Attention to the smallest detail is reflected in the use of rounded corners, anti-skid flooring, unhindered wheelchair access, grab rails, etc.
Each floor of the 10-story building boasts of community activity spaces to foster interaction and conversation amongst the residents. Recreational spaces on the upper floors provide residents a space to relax or indulge in activities such as swimming, gardening, walking or to simply soak in the beauty of nature. Modern amenities and facilities combined with healthcare and fitness solutions to create a world that is both restful and stimulating.
360 degree holistic, preventive Integrative Care and wellness available at Eden aims to deliver utmost care and thus well-being. Our holistic healing systems are blended with modern technology and traditional therapies. We have fully equipped facilities for yoga, meditation, gym and fitness. Our traditional remedies and procedures of ayurveda, naturopathy, oriental treatments, physiotherapy and spiritual healing ensure that life is healthy and in harmony.
The team ,composed of 3 founders: Deepak Gupta, Sanjiv Vohra and Samir Gupta and Dr Alok Bhatia as a senior advisor on integrative wellness, have over 100 years of collective experience in areas of real estate development, integrative and holistic healthcare, primary healthcare with setting up of hospitals and clinics, providing healthcare training, management consulting, banking, recruiting, IT etc.
Our plan for senior living is to deliver our first project under Eden Senior Living & Wellness in Dehradun with integrative health and wellness to the satisfaction of our customers. We hope that residents will experience and understand the benefits of holistic and preventive integrative health and wellness and we can replicate this model elsewhere too.
What kind of recurring expenses can a senior person expect while living in a senior living project?
The recurring expenses include maintenance cost of common areas and electricity consumed. In addition, housekeeping, meals and medical treatments as consumed are also there. In most senior living facilities, there will be flexible monthly packages, which include all or some of the services like housekeeping, meals and medical consultations / treatments.
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