Columbia Pacific Communities (CPC), a senior-living community operator with close to 1,600 residential units under management in 5 cities and 9 locations across South India, has announced plans to foray into the Pune market to serve senior citizens.
The company, which already has operations in Bengaluru, Chennai, Puducherry, Coimbatore and Kancheepuram, said it would have four new senior community living projects, two each in Pune and Bengaluru.
“In the year 2022-23, Columbia Pacific Communities will have four projects on sale. Two projects in Bengaluru and another two projects in Pune. The plan is to launch four new projects in different cities every year,” Mohit Nirula, CEO, Columbia Pacific Communities said in an interview.
CPC is a 100% FDI company with the same principal investors who had set up Columbia Asia hospitals in India and Southeast Asia.
It is part of the Columbia Pacific group, one of the foremost developers of senior living communities in the United States, Canada and South East Asia.
CPC provides two distinct brands and service propositions – the premier Signature Communities and the mid-market Serene by Columbia Pacific for the residents. The monthly spend at these communities apart from owning the house, can vary from ₹15,000-50,000 depending on the services availed and the size of the home.
According to a CII report of 2018, the demand for homes in senior living category in urban India was for 2,00,000 homes and at that point in time, only about 20,000 homes were under various stages of development. “Given the long gestation periods for each project and the fact that India adds between 5-6 million seniors every year to its population, this gap would have only grown exponentially,” Mr. Nirula said.
Speaking about profile of the company’s customers and future residents, Mr. Nirula said, “They are those who seek a lifestyle where they can count on the service provider to look after all their daily chores leaving them to devote their time to individual hobbies, pursuits and passions.” “The availability of a paramedical team on each property also gives them and their extended families the peace of mind they require for any health-related regular requirements or emergencies. Most importantly, our residents can count on a scientifically developed, socially engaging activity plan that will keep them engaged and healthier for longer,” he added.