The document discusses plans for developing "Retired Chaturvedi Homes" retirement communities. It explores potential locations near or far from major cities and considers pros and cons of each. Facilities discussed for the communities include 1-2 bedroom apartments up to 1500 sqft, senior-friendly amenities, 24/7 medical care, and common areas. Financial aspects addressed include initial costs of ~50 lacs per apartment, monthly maintenance fees of ~Rs 10 per sqft, minimum 100 apartments, and bank-managed funds with regular statements. Questions around apartment ownership after a resident's passing and options like family transfer or sale to a society are also covered.

1. Retired
Chaturvedi Homes
First Discussion – 8th Aug’21

2. 2 minutes
summary
• Objective: Development of “Retired Chaturvedi Homes”
• Approach:
Identify
• Identify the
Customer ( like
minded People)
• Group of like-
minded people
agreeing for this
concept
Voice
• Voice of the
Customer
• Size and facilities
in Apartment
• Location of
Society
• Financial aspect
– How much and
process of
transferring the
asset
Develop
• Develop the voice (
Execution stage)
• Identify the
Developer and
get executed (
i.e. PMC)

3. Locations
Discussed:
• Near Metro cities:
• On Yamuna expressway near Noida side
• Far from Metro cities:
• On Yamuna expressway near Vrindavan side
• Near Dehradun
• Near Bhopal
• In Himachal Pradesh
Locations:
• Pros:
• International airport in close vicinity
• Medical facilities in close vicinity
• Availability of Professional Facility management System
• Higher FAR
• Lesser development charges
• Cons:
• Higher land cost
Near Metro cities:
• Pros:
• Lower land cost
• International airport in close vicinity
• Medical facilities in close vicinity
• Cons:
• Availability of Professional Facility management System
• Lower FAR
• Higher Development charges
Far from Metro cities:

4. Facilities
Discussed
All Apartments are 1 BHK or 2BHK
Carpet Area: Maximum of ~1000 – 1500 Sq. ft.
• Senior friendly homes
• Safety & Security
• 24x7 medical care
• Physiotherapy & rehabilitation
• Plumber, Electrician,
• Availability of Groceries
• Club house
• Card Room etc.
Facilities:
Guest house in each floor

5. Financial
aspects
Price Points
• All the following are indicative figures only for initial budgeting purpose.
• Initial cost ~ 50 Lacs
• Maintenance cost: ~Rs 10 per sq ft per month
• Minimum 100 apartments in the society
Fund Management
• Transactions: Only through banks
• Operating Bank Account: Minimum 3 persons ( as signing authority)
• Publishing of account statement in regular interval ( frequency can be finalized
later)
Other Queries
• What will happen to Apartment after the person ( as these are retirement homes).
• If the individual apartment owner can identify next owner within his/ her family
the same will be transferred as any other flats.
• Another option is Any society ( like newly formed society or Chaturvedi Mahasabha
or similar other Chaturvedi societies) can take that apartment and then run for that
society as gust house or differently
• Second option can be exercised
• Either initially using reverse mortgage concept
• Or later one time sale

6. Open Session