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Impact Group to Set Up Housing Project for Senior Citizens
Economic Times
July 11, 2008
India
Following the western concept of developing houses for ageing societies, Punjab based Impact Group today announced to set up a residential project for senior citizens in Amritsar with an expected investment of Rs.100 crore.
"Our upcoming project will be a premium services enriched community providing global standard of senior living for its residents and it would provide a one stop solution to senior citizens requirements," Impact Projects Private Limited, Director, Vinay Singhal told reporters here today.
The company would be mainly targeting retired bureaucrats, retired army officers and Non Resident Indians (NRI) for this project, he said.
To be set up on 50 acres of land in Amritsar, the entire project would have 250 apartments including one room, two room and three room sets and it is expected to be completed by end of next year.
The price of these apartments would start from Rs. 35 lakh and go up to Rs. 80 lakh per unit. Besides, occupiers would also have to pay Rs. 10,000 per month.
"In case, the old couple dies while they were living in our apartments, we will return 90 per cent of the market value of the property to their legal heirs," he said.
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