DDA planning 2,500 affordable service apartments for elderly
It will be for the first time in India that affordable apartment units, where citizens aged 60 years and above will be able to spend their lives comfortably post-retirement
Feb 21, 2015
Source : The Times of India

 

NEW DELHI: Delhi Development Authority is working on a first-of-its-kind senior citizens' housing scheme, senior officials have said. Officials claim it will be for the first time in India that affordable apartment units, where citizens aged 60 years and above will be able to spend their lives comfortably post-retirement, will come up on such a large scale—at least in the public sector. 

Placed a couple of months ago, the proposal was cleared in an Authority board meeting on Monday. 

The idea behind the project is to provide a space for the elderly, from all social and economic backgrounds, where they can spend their time together at nominal costs. DDA has identified four sites where housing complexes for senior citizens will be developed. 

"Five firms are in talks with us. We have asked each firm to give us designs which provide easy, barrier-free accessibility within the complexes. These firms will develop the complexes," said DDA vice-chairperson Balvinder Kumar. 

The idea of a space exclusively for elderly is one DDA has been considering for some time. "Such places are in very limited supply. There are a few in south India and Metro pockets. However, either their rental is too high if built by private developers, or the waiting list is too long. We want this complex to have all amenities, and simultaneously make it affordable," Kumar said. 

These apartment units may attract not just pensioners, but richer candidates as well. "Apart from loneliness, senior citizens in the capital are also worried about security. There are many cases of crime against this vulnerable section. Here, they will experience not just a sense of belonging but also security. The complexes will be guarded 24X7," said a senior official. 

In addition to providing them easy accessibility, apartment complexes for elderly will be equipped with a gymnasium, library, jogging tracks, medical room and nursing units. Rooms will be provided to candidates for lifetime. Upon the allottee's death, it will be granted to the next person in the waiting list that will be updated annually. DDA will monitor the quality of the flats, food and medical services. 

DDA and the developer firms are working on three financial models. "The first mode of payment will be a lump sum amount which an applicant could pay and occupy the flat, the other is monthly installments, ideal for pensioners. The third is reverse mortgage," said an official. Reverse mortgage, for which DDA is talking to banks, would allow applicants to mortgage property and pay for the flat.

Latest Realty News

Encroachers-removed-from-Juhu,-Khar-plots
Feb 21, 2015
MUMBAI: The BMC undertook demolition of two open spaces namely at Juhu and Khar
Rahul-to-lead-Congress-protest-on-land-law-on-Feb-25
Feb 21, 2015
New Delhi: The Congress said it would hold a protest against the Narendra Modi-led government over the controversial land acquisition Bill
Govt-might-dilute-land-Bill
Feb 21, 2015
New Delhi: The National Democratic Alliance (NDA) government is likely to dilute certain controversial provisions of the land acquisition Bill
2-absconding-directors-of-realty-firm-arrested
Feb 21, 2015
New Delhi: Two absconding directors of a realty firm have been arrested
'Fairpro-To-Revive-Realty-Market-in-TN'
Feb 21, 2015
CHENNAI: After a dull year, the Confederation of Real Estate Developers Association of India (CREDAI) was positive that the eighth edition of FAIRPRO
Include-Mumbai-Port-Trust-land-in-development-plan,-says-citizens’-group
Feb 20, 2015
MUMBAI: A citizens' group has demanded the inclusion of Mumbai Port Trust (MbPT) land in the development plan
BMC’s-ambitious-development-plan-set-to-cut-Aarey-to-14%-its-present-size
Feb 20, 2015
MUMBAI: If the BMC's draft Development Plan (DP) 2034 has its way, Mumbaikars will be left gasping for open spaces
Rising-US-dollar-strengthening-real-estate-market-in-Dubai
Feb 20, 2015
DUBAI: Rising US dollar combined with world class infrastructure and high quality of life are strengthening real estate market in Dubai
Realty-looks-up-to-budget-to-regain-lost-ground
Feb 20, 2015
HYDERABAD: The NDA government's first full budget, to be presented next week, will either make or break the future of India's real estate sector that's been struggling to get back on its feet
CCI-rules-out-charges-against-real-estate-firm-Bestech-India
Feb 20, 2015
NEW DELHI: The Competition Commission has rejected charges against real estate firm Bestech India

Latest Realty News Of State

Realty Talk's