| Hyderabad-based IVRCL Infrastructure & Projects Ltd has embarked upon a Rs 2,000-crore 'IVR Vanaprastha' to cater to the needs of the people over 50 years. The project involves construction of 'long-term care' centres for the elderly in 50 cities across the country in 10 years. |
| “The idea is to build at least 50,000 one to three bedroom houses over the next decade for the people who want to celebrate retirement to help them lead a life of wellness and good health,” IVRCL chairman and managing director E Sudhir Reddy told Business Standard. |
| To begin with, Vanaprastha centres would be set up in Hyderabad, Bangalore, Chennai, Puducherry, Pune, Panvel and the National Capital Region. Each centre will have 500 to 750 dwellings units spread over an area of 75 acres to 150 acres. |
| “Lands for the project have already been identified. The work on the Bangalore centre will be started immediately,” Reddy said. |
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