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Max Group's Antara crosses sale of 200 Residences for Seniors in Noida; Stocks ends higher

Antara saw a rapid uptick in sales following the second wave of Covid-19. Enquiries increased fivefold as seniors understood the benefits of independent / assisted living communities, the company said.

November 17, 2021 4:00 IST | India Infoline News Service
Antara, the wholly-owned subsidiary of Max India Limited, focused on senior care, and part of the $4-billion Max Group — has announced the sale of over 200 units at its second Senior Living community in Noida Sector-150. Launched in early 2020, the Residence for Seniors project in Noida is an integral part of Antara's strategic shift towards creating an ecosystem to address the lifecare, lifestyle, and well-being needs of seniors.

Max India Ltd ended at Rs76.05 per piece up Rs0.90 or 1.20% from its previous closing of Rs75.15 per piece on the BSE. The company stock hit a day's high of Rs77.05 peice on Wednesday.
Spread over 16,500 sq. meters, Phase-1 of Antara's Senior Living Community in Noida houses 340 apartments curated across three towers that cater to a wide spectrum of lifestyle needs. Residents can choose from two or three-bedroom units ranging from 137 sq. meters to 280 sq. meters constructed in three different layouts. These apartments are available on a 90-year direct lease under the Noida authority and have all-inclusive pricing between Rs1.15cr and Rs2.35cr.

The company said in a filing on Wednesday that Antara's Senior Living Community is focused on providing the best possible facilities for seniors and is well equipped with primary healthcare services. The residents will also get access to trained nursing staff and care givers, easy availability of doctors, physiotherapy facilities, etc. to help them better manage their health. The community will also have tie ups with to provide medical assistance for emergencies.

An expansive club encompassing an all-day restaurant with personalized, nutritionally curated special meals, recreational spaces, a wellness zone, and an indoor heated swimming pool are meant to create an ecosystem that will aid ageing by catering to the wellness needs of the residents. The community within the senior living facility promotes and facilitates an active and engaging lifestyle tailormade for its occupants through the resident engagement programs.

Antara Noida also provides amenities such as panic alarm buttons, round-the-clock medical assistance, emergency response systems, proximity to medical facilities, etc. to ensure a world-class living and ageing experience.

Rajit Mehta, MD &CEO, Antara said, “The second wave of COVID-19 exposed the gaps in India’s healthcare system at large and reaffirmed the need for dedicated spaces as well as all-inclusive services, especially for seniors. We saw an increase in customer enquiries followed by quicker closures at Antara Noida, post the second wave. This was majorly driven by the seniors, who began looking for organized and specialized living spaces, which can enable an independent, active, wholesome, and hasslefree life. Antara Noida has seen cumulative net sales of over 200 units already and the continued momentum and heavy footfall at the community site give us the confidence that the interest will continue during the remaining part of this financial year as well.”

Antara's Residences for Seniors, Noida, focuses on holistic well-being and is a solution provider to all senior needs — social, physical, entertainment, health, or wellness. The fully finished apartments are based on senior-friendly architecture that incorporates small, yet significant elements such as anti-skid tiles, ample wheelchair turning radius, broad doors and window width, among others. The first phase of the community at Sector-150 Noida will be ready for possession in second half of 2024.

Antara's first senior living community came up in Dehradun in 2013, enabling access to world-class healthcare facilities for seniors. Antara Dehradun offers a wide range of services and recreational spaces that allow seniors to focus on their holistic well-being and hassle-free ageing. The community is spread across 14 acres and has nearly 200 apartments for seniors. The rousing response towards Antara Dehradun inspired Antara to expand its offerings and launch more communities, starting with the one in Noida.

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