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Luthra builds Rs 520 cr luxury senior homes for Max group

Happy homes
Happy homes
Luthra & Luthra advised Max India’s year-old subsidiary arm Antara Senior Living in setting up a Dehradun-based living community for senior citizens.

Antara will build its first senior community project in Dehradun with a budget of Rs 520 crore, reported Mint, adding that the 20-acre project would consist of apartments costing between Rs 1.25 crore and Rs 4.5 crore, and penthouses starting at Rs 7 crore.

Luthra Delhi partners Sundeep Dudeja and SR Patnaik, managing associates Vaibhav Kakkar, Karan Chandhiok and Sachit Mathur, senior associate Sumit Mangal and associates Bhabna Das, Snigdhaneel Satpathy, Varsha Nair and Shreya Garg acted for Antara since its inception last year, advising on structuring, legal and regulatory aspects, drafting and documentation.

“Given that the requirements of the project were somewhat unique in terms of the real estate sphere, it was quite a challenging assignment and the Firm worked hard in developing an innovative lease-hold structure which will now be implemented, perhaps for the first time, in the Indian real estate sector,” the firm said in an email.

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