CHD Dev to build townships for senior citizens

Written by State Bureau | Chandigarh,Sep 23 | Updated: Sep 25 2008, 04:57am hrs
CHD Developers Ltd., one of Indias leading real estate developer, has announced its plans to build four exclusive townships across north India named Active Senior Lifestyle Township, comprising homes and villas targeted towards senior citizens, with an investment of Rs 1700 crore.

One of these townships is slated to come up at Karnal in Haryana with a capacity of 2,500 residential units, spread across 100 acres of land. The uniqueness of the project would be that they will comprise only ground floor construction and only those of or above 55 years of age would be allowed to own a property here. Those younger than 55 years can invest and book their home or villa as of now. However they shall be able to move in only when they turn 55 years of age.

RK Mittal, chairman and managing director, CHD Developers said, The real life of a person starts at 55 because by this magical age, one is generally free of all his worldly duties. Their children are generally settled by then and having led an active professional life, they have ample provisioning for the days to come. They look forward to a soothing and relaxed lifestyle sans any worries whatsoever. The retirement villas are aimed to provide stress free and stimulating life for elderly people who want comfort around them. Our retirement villas will feature the best of amenities and facilities that senior citizens may need.

Under this retirement projects CHD Developers plans to develop 7,000 homes and villas set to come up in Karnal (Haryana), Rishikesh (Uttarakhand), Mathura (Uttar Pradesh) and Neemrana (Rajasthan), over a total land area of 350 acres, at an approximate cost of Rs 5 crore per acre.

For Karnal project, the company has already acquired the land and will start the construction by Deepawali, next month. The project is expected to be complete by 2011 and the estimated cost for the Karnal township is Rs 500 crore.

The project in Rishikesh will be the largest with 150 acres of land. The project at Neemrana and Mathura will be spread across 50-60 acres each.

"The planned township in Rishikesh will be the largest of the four projects with 3,000 residential units. Neemrana and Mathura will have 1,000 villas each," added Mittal.

CHD Developers would offer villas/apartments in one, two and three bedroom options under these projects, which will be designed by an Australian architects who have done enough research and implementation this domain.