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• Antara Senior Care has received a partial occupancy certificate for Phase I of its senior living community in Sector 150, Noida.
• The approval covers three residential towers comprising 340 units, enabling possession for senior residents who had booked homes in the project.
• The occupancy certificate unlocks approximately INR 150 crore in receivables linked to possession milestones for the development.
• The overall project spans around 12 lakh sq ft, with Phase I expected to generate approximately INR 550 crore in revenue and Phase II projected at INR 800 crore.
• The approval follows prolonged delays linked to sector-wide sports infrastructure completion requirements in Sector 150, Noida.
Antara Senior Care has received a partial occupancy certificate (OC) for Phase I of its senior living community in Sector 150, Noida, enabling the company to begin the process of handing over homes to residents. Advertisement
The occupancy certificate has been granted to Contend Builders Private Limited, a joint venture entity of Antara Senior Living Limited, which is a wholly owned subsidiary of Max India Limited.
The approval covers three residential towers comprising 340 housing units within the first phase of the development. With the clearance now in place, approximately 340 senior families are expected to receive possession of their homes in the coming period.
Rajit Mehta stated that the company is reviewing the conditions outlined in the occupancy certificate and expects to initiate the possession process shortly. He also acknowledged the role of the Noida authorities and the Supreme Court of India in supporting the company’s requests related to the project approvals.
According to the company, the occupancy certificate unlocks nearly INR 150 crore in receivables that were contingent upon possession of the residential units. The entire development spans approximately 12 lakh sq ft, of which Phase I accounts for around 7.45 lakh sq ft while the remaining 4.55 lakh sq ft forms part of Phase II.
The company stated that Phase I is expected to generate approximately INR 550 crore in revenue, while the second phase is projected to generate around INR 800 crore. Following the progress on possession for the first phase, Antara plans to pursue revalidation of approvals for Phase II of the project.
The occupancy clearance had remained pending because of a sector-wide requirement concerning the collective completion of shared sports infrastructure across Sector 150 in Noida. The company stated that it had already completed its designated contribution towards these facilities and fulfilled all related payment obligations.
To expedite possession for residents, the company approached the Noida Authority and subsequently sought legal intervention through various courts, including the Supreme Court, arguing that all its obligations had been fully discharged and that occupancy approval should not be delayed further. The partial occupancy certificate has now been issued following the company’s demonstrated compliance.
The Antara Noida community has been designed as a senior living project focused on independent and active ageing. The development includes senior-friendly residences integrated with wellness facilities, medical assistance services and emergency support infrastructure.
Launched in 2013, Antara operates as the senior care business of Max India and manages residential communities, assisted care facilities and home-based eldercare services across multiple Indian cities including Gurugram, Noida, Bengaluru and Chennai.
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