Nyati Group, India’s leading real estate developer, forays into a new asset class, Senior Living, to cater to senior citizens in the country by creating communities that offer the highest international standards in design, facilities and services that allows residents to age positively.
To bring in world class expertise, Nyati Group has joined hands with Columbia Pacific Communities for its first project. Columbia Pacific Communities is part of the Seattle-based Columbia Pacific Management, also the promoters of Columbia Asia Hospitals, with over 40 years of experience in building, managing and operating senior living communities in USA, China, Canada and India.
Nyati Group and Columbia Pacific Communities announced their first project on the occasion of World Senior Citizens Day, a day observed and celebrated worldwide to support seniors through the ageing process as well as to recognize their contribution to society.
India will be home to 17.3 crore senior citizens by 2026, as per the Registrar General of India. The evolving lifestyle in urban centres has created a need for self-sufficient and socially engaged communities, where the seniors can lead a healthy and content life.
With limited supply from Grade A developers, there is an urgent need to cater to this segment with well-designed and fully serviced facilities.
Nyati Group and Columbia Pacific Communities’ first senior living project in India will be launched at Nyati County, nestled in the green haven of southern Pune. It is spread across 210 acres comprising several gated communities that are home to over 6500 happy families. It is the perfect location for scenic views, great infrastructure and superlative accessibility. The senior living initiative will be launched at the heart of Nyati County with over 3.64 lakh sq.ft. dedicated exclusively to this enterprise. The launch is expected to be at the start of the next fiscal year.
The senior living facilities will be holistically designed bringing the finest amenities and care on offer. The community will be fully serviced for food, round-the-clock medical support and physical activities. The project will have approximately 200 units in 1 and 2 BHK formats with unit sizes ranging from 736 – 1331 sq. ft. priced between Rs 50 lakhs and 80 lakhs.
Nyati Group aims to make senior living a mainstream concept in Maharashtra. The senior living facilities will be designed to meet international standards and offer the finest of amenities. Besides senior friendly amenities and medical support, the communities will be fully serviced including food, housekeeping and 24-hour assistance.
Pune has a population of over 5 lakh senior citizens. On the Mercer Quality of Living Rankings, Pune is ranked at 145, the second highest score for an Indian city. Although the city has traditionally been seen as a pensioner’s paradise, it is an underserved market when it comes to world class senior living.
Columbia Pacific Communities has pioneered the concept of community living for seniors across the world and are committed to bringing world class practices in senior living to India. The joint venture with Nyati is one of the Group’s several collaborations to build world class senior living communities in India with fully serviced residences designed to international standards.
Commenting on the new business foray, Mr. Pranav Nyati, Director, Nyati Group said, “The dream originated from watching my grandparents and parents grow through life, putting our needs first to ensure that we get everything we need to be balanced, healthy individuals contributing to society. Hence, it has always been my dream, which I share with my father, Mr. Nitin Nyati – Chairman and Managing Director – Nyati Group to provide a lifestyle that seniors have always dreamed of living – with dignity, choice, freedom, and independence, in an engaging and fulfilling environment – ensuring their physical, mental, emotional & spiritual well-being to enrich their quality of life.
Retirement is an opportunity to redefine one’s role in life. I would want to give them a sense of purpose, where they have a platform to contribute to society, by sharing their vast ocean of knowledge backed with experience, as well as their skillset and support in enabling growth for the community at large.”
Commenting on the 50:50 JV with Nyati Group, Mohit Nirula, CEO, Columbia Pacific Communities, said, “We are entirely committed to building and nurturing communities for seniors, as we believe that community living and social engagement is the strongest antidote to loneliness and a wonderful enabler of “positive ageing”. Residents can expect to find an environment that encourages them to remain physically fit, mentally alert and emotionally stimulated. To be able to create this environment with a credible partner such as the Nyati Group is both a pleasure and a privilege and to the ultimate benefit of our residents.