Pune is shaping up as best Post retirement Destination

Pune: Ashiana Housing, pioneers of an active Senior living in India, is handing over possession of Ashiana Utsav Lavasa Phase 2, its senior citizen housing facility, located in Lavasa, India’s first fully planned hill city being set up in Pune.

Set in the picturesque Sahayadri Hills (Western Ghats), amidst greenery and soothing landscapes, Ashiana Utsav Lavasa Phase 2 comprises both villas and apartments. The housing units have been built with exceptional care and a lot of thought has been put into every facet of construction so as to make senior living dignified and comfortable. Each unit comes with several features such as:

·        Anti-skid tiles to avoid slipping and falling

·        Grab rails in the master toilet

·        Single-lever fitting in bathrooms

·        Age-friendly door and window handles

·        Night lamps in the master bedroom

·        Bigger electrical switches mounted at a comfortable height

·        Emergency response system

Besides, other services such as moving in, utility bill payment, maintenance services (electrician, plumber on call), and garbage collection from identified spots are also provided, enabling residents to enjoy a secure, comfortable and relaxed lifestyle in a community environment where they do not have to put up with the hassles of maintaining a typical home.

Keeping in mind the health concerns of residents, Ashiana Utsav Lavasa Phase 2 also comes with a first-aid centre and a resident nurse. A 24-hour ambulance service, with a doctor and a nurse, is also available to provide peace of mind to the residents. In fact, the housing project adjoins the Apollo Hospital, which also runs a pharmacy providing free delivery services to residents.

But it is not all health and medical care at Ashiana Utsav. There are a number of recreational facilities available for senior citizens. With hobby clubs, activity rooms, computer room, art and craft studio, library and reading lounge, and indoor and outdoor game facilities, there is always plenty to do at Ashiana Utsav Lavasa Phase 2.

Situated just an hour’s drive away from Pune and four hours from Mumbai, Ashiana Utsav Lavasa has everything going for it.

Present at the occasion Mr. Manoj Tyagi, VP, Ashiana Housing Ltd. said, “We understand that senior citizens have a unique lifestyle, with special needs. They want comfort and security, but, most of all, they want dignity and independence. Today’s senior citizens are mostly retired professionals – they cherish an active post-retirement life in a secure environment. Ashiana Utsav Lavasa Phase 2 is our humble gift to these valued citizens of our country.”

With the first set of residents having moved into their homes in 2013, new residents have company of like-minded people to enjoy. “It is so refreshing to find people our own age, with similar interests and hobbies here at Ashiana Lavasa,” says Mr & Mrs Dilip Barve who are from Mumbai “Not only is the location so sublime and peaceful, we have a great time mingling with other residents and planning all sorts of fun activities. Moving in here has been one of the wisest decisions we have ever made,” they add.

The comfortable environs have had a soothing effect on several elderly residents.

Taking the possession of Utsav Lavasa Phase 2 Mr. Shree Chandan, who is originally from Orrisa working with (NTPC) says, “At Ashiana Utsav Lavasa, I have, in a manner of speaking, re-discovered myself. I have always been sports-minded but found it difficult to play with others in my earlier residence. Here, I can connect with like-minded people and keep myself fit by playing outdoor games. Plus, my wife is happy she has good company for her evening walks,”

Another customer, Ms.Renu Marwa, 63, lived in a rented flat in Juhu – located in the same housing apartment as her son. Despite frequent visits by her family, Marwa decided to move to a serene, quiet place outside the city where she could live amid nature while continuing to enjoy visits by the family.

“All my life I had lived in Chennai, and moved to Mumbai because of my son’s new job posting. But rents in Mumbai are exorbitant. It wasn't even worth it, as my children were frequently travelling abroad for work. Finally, I decided to sell off my Chennai property and buy Ashiana Utsav villa in Lavasa,” said Marwa.

Clearly, at Ashiana Utsav Lavasa, retired life is meant to be enjoyed, not endured.

HCC to raise around Rs 2,000 crore to repay debt

 MUMBAI: Hindustan Construction Company is chalking out plans to raise Rs 1,500-2,000 crore to repay debt and get the Mumbai-based construction and engineering company out of the corporate debt restructuring cell ahead of schedule.

"I have to get out of CDR. I am trying to do it faster than the 10 years given by the banks. I will do whatever is required to reduce the interest burden," Ajit Gulabchand, chairman and managing director of HCC told ET in an interview.
 

"If I payback. Rs 1,500 crore, my debt, my profit and ratings improve and I become a normal company. I want to make sure that we put our finances in order so that when Prime Minister Narendra Modi and his government reset the economy and relaunch India on a new growth path, we would be fit to participate in the infrastructure growth," he said.

HCC, which has to its credit construction of some of India's major nuclear power plants, hydro power plants and Mumbai's Sea Link project, has had it rough the last two years.

While it suffered like most other infrastructure companies due to a slowdown in the economy, delays in projects, and slow decision making of government bodies, its challenges were aggravated with its most ambitious project—Lavasa hill city near Pune—had a run-in with the ministry of environment.

Faced with accumulating losses and huge debt, HCC had to resort to restructuring term debt of Rs 3,200 crore in 2012. After months of negotiations with a consortium of 27 banks, the company was inducted into the CDR cell which allowed a two-year moratorium on the principal and subsequently repayment over the next eight years.

The worst may be over for HCC. It has returned to profits, though muted due to high interest cost, as project execution has picked up. 

As a first step to get HCC out of the woods Gulabchand has sought capital market regulator Sebi's approval for a Rs 750-crore initial public offer for Lavasa.

"I am going to do nothing new. Lavasa will be the key driver for us. Where we were stalled, we want to reset and put out house in order," Gulabchand said. Next up, the company plans to raise Rs 1,500-2,000 crore at the parent company level to repay debt.

This will be done through sale of shares, monetization of funds and recovery of dues with government agencies. HCC has Rs 8,000 crore of claims with different government bodies, of which Rs 1,500 crore has been awarded to it after arbitration but is being challenged in court.