Pragati, Serene team up for housing project for elderly

Pragati Group and Serene Retirement Community, part of Covai Property, today announced the launch of Serene Pragati, a speciality villa project that focuses on elderly care.

It is proposed to develop 328 affordable and yet luxurious villas about 25 km from here but close to the new international airport and the IT hub of Hyderabad.

The Managing Director of Covai Property Centre (India), Colonel A Sridharan, said this new initiative is part of a series of similar projects they had taken up in other cities. Serene project has been designed keeping in mind the necessities of elderly care. This new project is also aimed at similar approach for people after their retirement life.

Part of Covai Properties, Serene Retirement Communities is one of the first to take up the concept of affordable retirement housing in the country with projects in Coimbatore, Chennai and Puducherry. These new projects are coming up in Mysore, Bangalore and Pune to be launched during the year.

Dr G.B.K. Rao, Managing director of Pragati Group of companies, said, “Serene Pragati is in line with the company's efforts to offer quality living for elderly people. Our facility has been chosen to host delegates taking part in the mega Global Biodiversity Conclave to be held in Hyderabad later this year.”

The project spread over 35 acres is planned to be completed in two phases. The price of each villa ranges from Rs 25 lakh for a villa with sizes ranging from 608 sq ft and going up to 1,900 sq ft. The companies are also targeting non-resident Indian community who want to take care of parents through such properties.

All properties for elderly care come with maintenance and support services. The project, to be completed by 2013, will have modern kitchen with dining facilities.

Source: http://www.thehindubusinessline.com/companies/article2854226.ece