FAQs

1. What is vision and scope of this project.

We envision an Active Retirement Community of 75 to 100 homes (built in phases) to be built in Florida on a property that could span between 30 and 40 acres.

2. Is the Active Retirement Community open to other non MMNA members

Yes, it is. Per our survey of 132 members, 62% stated that they prefer Maheshwari/Rajasthani/North-Indians; 82% stated Indian Origin; 18% stated No preference. 

The community cannot discriminate against anyone who wants to buy into the Community Homes.

3. What is the time line for this project

Once the land is secured, then 18 months for due diligence including survey and site development for access roads etc. Then 9 months until we have a saleable unit. So, approx. 2.5 years for 1st occupancy AFTER we buy the land.

4. Is the location (Tampa, Florida) final, or are we open to other locations.

Tampa and its vicinity appear to be a favorable choice due to its attractive geographic, demographic, and cosmopolitan nature – less hurricane prone, large airport, growing economy, large metropolis with large Indian population, historically a choice for other Active Retirement communities like Anand Vihar and Nalanda Estates. Our initial search will be concentrating on parcels within 40 miles of downtown Tampa.

We are open to other Central Florida locations and will weigh the merits of any other proposals. We have chosen to stay away from some of the Atlantic coastal regions like Miami and Ft Lauderdale due to their Hurricane prone nature.

5. Are there any minimum age requirements to gain access or live in this community.

Most of the retirement communities in Florida (and active retirement for that matter) operate themselves as 55+. In Florida it means that at least 80% of the homes must have one occupant who is 55 or older. It provides for tax benefits (initial sale approx. $8000 per home and then a small tax break on ongoing property taxes). Judging from the occupancy and demand from places like Shantiniketan and Anand Vihar reselling or renting does not appear to be an issue. FYI Anand Vihar HOA requires that 100% of homes have at least one occupant who is 55+. 

The Ashiana Retirement community HOA will establish its own bylaws which will probably be between 80% and 100% of homes to have at least one occupant 55+.

6. How many committed people do we need to move this project forward.

Without Financial commitment we cannot move the needle. We need about $15,000 in committed resources to move forward. We have established $501 as your initial commitment per interested member. These funds are required for two main reasons.

• This sends a strong signal to our partners – developers, builders, and realtors, that we are serious about this project, and we would be able to engage them for our research and search at minimal cost if any.

• There will be other expenses – LLC creation, legal, application fees with state, city, county, core team member travel to finalize details, and ongoing Project Management fees  etc.

However, we have set a deadline for procuring your commitments and refunding the monies back to you as follows:

• If we are not able to get 30 members to commit $501 each by Aug 15th, 2023, we will open up the opportunity to participate with friends and family of existing members.

• We will continue to accept the $501 contributions up until 30 Sept., 2023

• Any balance (after expenses) remaining in this special account as of May 31st 2024, will be refunded back to the members who have contributed towards this initiative.

7. Can there be a road show to see existing communities and potential sites before I can make my decision to build?

Once we have identified the land anyone from the ‘committed’ members is more than welcome to visit the site. A detailed report out will also be shared once every 6 to 8 weeks. 

8. I am interested in acquiring land only when we begin the build phase, and build at a later date. Can I do that?

We are developing a community of Active Retirees that will reside in this community, and create an atmosphere of togetherness and camaraderie. To meet that goal, we encourage you to make the commitment for the actual home. You, the buyer will own the building and the land it is built on. We anticipate that the builder(s) will have a variety of floor plans to choose from, just like you experience when you purchase a home in a subdivision. 

All building shall be completed within 2 years of the start of builds. Bank Loans, Investor returns and the engagement of the Builder cannot be held back for any more time than is necessary to complete the builds.

You can rent your unit after you own it, although it will have to meet the HOA guidelines in terms of maintaining age limitations, like 55+, and the total number of units that can be rented out at any given time.