Varun Gupta, Director, Ashiana Group very candidly claims that their main TG is the affordable segment of the society and talks about the acceptance of assisted living in retirement resorts.
What’s to do with the concept of ‘Assisted Living’ at Ashiana Utsav Retirement Homes? What’s new?
For India, the concept of assisted living is very new, but it’s very popular in the west. People in India associate the word ‘retirement’ with the end of the world. The concept of assisted living is to enable them to live again. Retirement resorts generally have three aspects to it – active living, assisted living and nursing care. Retirement communities are mostly catered to active living where in addition to home and space, very basic services like ambulance on call, gas leakages, et al are provided. At Ashiana Utsav, we assist seniors in their day-to-day living. The current old generations want to live in a dignified manner and our product allows them to feel independent as we provide the requisite infrastructure in terms of security, companionship, and health. Ashiana Utsav has an advanced security system, a hobby club with an activity centre, ambulance-on-call service with regular health check-ups, et al. For senior citizens, the need to be active is very important and an activity manager at the location manages various activities, ranging from yoga, gardening, tree plantation, movies, month-end parties, et al.
Does pricing matter in this space? How competitively are you priced vis-a-vis your competitors?
Pricing plays a very important role in real estate as India is a price-sensitive market. Our projects are generally designed for the middle class with prices ranging from Rs.15-40 lakhs. Surely our ticket prices are competitive and suit the affordability index of the consumer. As per market dynamics, we look at per square foot price and the ticket size before deciding the prices of our products. We are targeting middle income groups which differ city-wise and location-wise depending upon their affordability. As opposed to other players in the market, we price our products from the end user perspective and not from the perspective of speculators or investors. For us, affordability is the biggest criteria for pricing and we want to remain in the range of Rs.15-40 lakhs.
What’s to do with the concept of ‘Assisted Living’ at Ashiana Utsav Retirement Homes? What’s new?
For India, the concept of assisted living is very new, but it’s very popular in the west. People in India associate the word ‘retirement’ with the end of the world. The concept of assisted living is to enable them to live again. Retirement resorts generally have three aspects to it – active living, assisted living and nursing care. Retirement communities are mostly catered to active living where in addition to home and space, very basic services like ambulance on call, gas leakages, et al are provided. At Ashiana Utsav, we assist seniors in their day-to-day living. The current old generations want to live in a dignified manner and our product allows them to feel independent as we provide the requisite infrastructure in terms of security, companionship, and health. Ashiana Utsav has an advanced security system, a hobby club with an activity centre, ambulance-on-call service with regular health check-ups, et al. For senior citizens, the need to be active is very important and an activity manager at the location manages various activities, ranging from yoga, gardening, tree plantation, movies, month-end parties, et al.
Does pricing matter in this space? How competitively are you priced vis-a-vis your competitors?
Pricing plays a very important role in real estate as India is a price-sensitive market. Our projects are generally designed for the middle class with prices ranging from Rs.15-40 lakhs. Surely our ticket prices are competitive and suit the affordability index of the consumer. As per market dynamics, we look at per square foot price and the ticket size before deciding the prices of our products. We are targeting middle income groups which differ city-wise and location-wise depending upon their affordability. As opposed to other players in the market, we price our products from the end user perspective and not from the perspective of speculators or investors. For us, affordability is the biggest criteria for pricing and we want to remain in the range of Rs.15-40 lakhs.
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Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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