REALTY FOCUS ON SENIOR CITIZENS

Pune-based real estate firm Gagan Group today said it is investing Rs 160 crore to set up resorts for senior citizens at Lonavala. The project, NULIFE, will have apartments starting from Rs 35 lakh, and will be equipped with medical facilities and other requirements needed for seniors. Lonavala is a popular hill station located about 65km from Pune city. "We are investing around Rs 160 crore to set up India's first world-class project of resort residences for seniors - NULIFE. We have already spent Rs 50 crore for acquisition of 14 acres of land and investing another Rs 110 crore to construct a residential complex for senior citizens," Gagan Group Director Alnesh Somji told PTI here. The project is a living retreat, where older individuals can age gracefully in unity with nature, blessed with soothing weather and pollution-free environment throughout the year, he said. It has been designed by US-based architects, Perkins Eastman, Somji said. The first phase, comprising 6 buildings and 248 apartments, will be completed in 30 months. The pricing of these apartments starts at Rs 35 lakh which includes 15 years of maintenance, said Santosh Naik, MD and CEO of Disha Direct, which has conceptualised and marketed the project. The complex will have medical facilities with ICU, 24- hour ambulance service, routine check-up facility, physiotherapist on call and trained staff in all health departments, he said.