Covai Property Centre (India) Pvt. Ltd. has launched Serene Adinath, a senior speciality apartment project, at Vandalur. It would be a retirement community project within Chennai. It will have about 220 affordable and luxurious apartments in its first phase, costing Rs.60 crore.
It will be a unique concept lifestyle for seniors after the age of 50. It is a self-contained gated community project that provides all essential services for retired seniors. The company has specialised in senior care projects which have earned a name for themselves in providing freedom and independence to senior citizens with respect and dignity.
Addressing a press conference here on Friday, Col (Veteran) A. Sridharan, VSM, Managing Director, Covai Property Centre, said Serene Retirement Communities were the earlier ones to expedite the concept of affordable retirement housing in India. New townships are coming up in Coimbatore, Sri City and Puducherry. By early 2012, new projects will be launched in Mysore, Hyderabad and Pune. The company proposed to come up with nearly 2,500-3,000 units across these centres. Each project would come up in about 25-30 acres. It would either go in for outright purchase of land or for joint venture projects or franchise model. At present, out of its seven projects, three would be franchise model. Serene Adinath would be a part of Adinath Shanthinikethan gated community, which would be spread over 8.6 acres, and would be completed in three phases. The villas would have a price range of Rs.19.9-40 lakh. The size of the apartments would range from 517 sq. ft. to 1,063 sq. ft.
Serene Adinath will have a modern central kitchen with dining. It will have a medical centre with a resident or visiting doctor, resident nurse and a physiotherapist with a fully equipped ambulance.