The Zora, Delhi Convention Center, located near Jawaharlal Nehru Stadium in Delhi, was inaugurated in August 2024. This convention center is specifically designed to cater to global event needs.

Spanning over 2 lakh square feet, The Zora features impressive architectural elements, including 38-foot high ceilings and two pre-designed halls, crafted by the esteemed designer Walid Baz, founder of Baz Events. It serves as an exquisite venue for weddings, festivals, corporate gatherings, and a variety of other events.

In an exclusive interview with APN News, Jyoti Kalash, Chief Administrative Officer (CAO) and retired IAS officer stated, “The design of this event center is striking. Upon entering the main hall, guests will feel transported to another realm, as there is a glass floor beneath them that can easily support over 1,000 people.”

“The Zora stands out due to its nature-inspired design and outstanding craftsmanship, which was accomplished in just 80 days by an international team, establishing a new benchmark for luxury in India,” the former IAS officer emphasised.

Dhananjay Kumar, CEO of The Zora – Delhi Convention Center, also spoke with APN News, stating, “We are offering not just a venue, but a destination for unique, unforgettable experiences. This luxurious and stunning space was completed within an impressive timeframe of only 80 days.”

Know what is special in ‘The Zora’

• Prime location on Lodhi Road, convenient location for all.
• Parking facility for more than 2000 vehicles.
• Designed by award-winning architectural designer Walid Baz, bringing world-class expertise to Delhi.
• Completed within a time period of just 80 days.
• Spread over 2 lakh sq ft with two pre-designed halls and spacious customisable areas.
• The Zora’s design is inspired by nature, offering guests an ambiance of beauty and tranquility.
• 750 tonnes of iron has been used for strength.
• 700 intelligent lights have been used with over 20 modes to match the mood of the ceremony.
• Another large dining area is separate from the Grand Ballroom.
• The interiors look beautiful and are adorned with intricate handmade designs.

In a move signalling a generational shift in leadership and a commitment to empowering women in the business world, Nima Sulaiman, the daughter of HiLITE Group Chairman P. Sulaiman, has been welcomed onto the board of directors with a stunning gesture—a Porsche worth Rs 3 crore.

At just 18, Nima began her journey with HiLITE Group as a customer service trainee at Hug a Mug Cafe. From there, she transitioned to management roles, showcasing her talent and dedication. With a B.Sc in Economics from the University of London in Singapore, Nima brings a unique blend of academic prowess and practical experience to her new position.

As the Director of HiLITE Urban, a subsidiary of HiLITE Group, Nima is poised to continue the company’s legacy of excellence in construction and development. With a focus on providing quality living spaces and international standards in India, HiLITE Group has been instrumental in transforming Kozhikode city with its innovative projects that include premium residential buildings, ultra modern business parks, state-of-the-art malls and world-class entertainment theaters.

Group Chairman P. Sulaiman expressed his sentiments regarding his daughter’s recent appointment within the Group. He said, “I am immensely proud of Nima’s accomplishments and firmly believe that she is capable to take on greater responsiblities. HiLITE Group has always shed light on the significance of acknowledging and empowering women in leadership positions.” He further emphasised, “The emotional intelligence that women bring to the table is pivotal for fostering effective leadership and establishing trust.”

Nima, in turn, expressed her gratitude for the opportunity and her eagerness to contribute to the group’s success. “Inspired by my experiences visiting renowned malls worldwide, I strive to enrich the atmosphere of HiLITE malls and other projects, infusing them with vibrancy and youthfulness,” she said.

The appointment of Nima Sulaiman to the board of directors represents a significant milestone for HiLITE Group and a testament to the company’s commitment to innovation and inclusivity in the business world. As Nima takes on her new role, she stands as a beacon of inspiration for young women entrepreneurs in South India and beyond.

Retirement planning is a critical aspect of financial stability that often goes overlooked until it’s too late. In India, where the culture of savings is ingrained yet formal retirement planning is still evolving, understanding, and initiating a retirement plan is more crucial than ever.

The importance of retirement planning depends on ensuring you have adequate funds to live comfortably after you stop earning a stable income. It is not only about saving a part of your earnings but also about investing in yourself. Here are some crucial reasons to begin retirement planning – combating inflation, securing financial freedom, managing medical expenditures, maintaining your living standard, supporting family requirements, meeting post-retirement goals, preparing for unanticipated circumstances, and leaving a legacy for dependents.

Here are ways to effectively plan your retirement –

Ø  Utilise an online retirement calculator

An important instrument for planning, an online retirement calculator can assist you estimate how much you require to save to live a post-retirement life. It factors in your existing age, savings, retirement age, investments, and anticipated inflation rates.

Anjali is looking to retire at the age of 60 with a lifestyle that needs Rs 50,000 per month. Utilising an online retirement calculator, she considers her existing age of 30, anticipated inflation of 6 per cent and prevailing savings. The calculator estimates she needs a corpus of approximately Rs 2.5 crores to sustain her retirement life, helping her strategise her savings and investments accordingly.

Ø  Start early

The sooner you start, the more you benefit from compound interest. Even starting small can lead to substantial growth over decades.

Imagine Rohit, who starts saving Rs 5,000 a month at age 25 in a mutual fund that averages an 8% annual return. By the time he turns 60, his investment would have grown to over Rs 1.50 crore, thanks to compound interest. In contrast, if Priya starts saving the same amount at 35 under the same conditions, she would accumulate about Rs 67 lakhs by age 60. The decade-long head start allows Rohit’s investments more time to compound, significantly impacting his retirement corpus.

Ø  Create a retirement budget

Estimate your post-retirement expenses, considering inflation and changing lifestyle needs. Including fixed expenses, healthcare, leisure, and unexpected costs.

Vijay, nearing retirement, lists down his monthly expenses including groceries, utilities, healthcare, and leisure activities like travel and hobbies. Considering inflation, he predicts his current monthly expense of Rs 30,000 will rise to Rs 80,000 by the time he retires. This projection helps him understand how much he needs to save to maintain his lifestyle post-retirement.

Ø  Opt for a pension plan

Investing in pension plans offered by insurance companies can guarantee a steady income post-retirement. They also provide tax benefits under Section 80C.

Raj invests in a pension plan that promises a monthly income of Rs 20,000 after retirement. This plan not only secures his future financially but also offers tax benefits today, making it a win-win investment for his retirement years.

Ø  Diversify your investment portfolio

Do not put all your eggs in one basket. Invest in a mix of asset classes including equity, debt, mutual funds, and real estate. Consider your risk appetite and investment horizon.

Meena, an investor, allocates her savings across different asset classes—40 per cent in equity for growth, 30 per cent in bonds for stability, 20 per cent in mutual funds for diversified exposure, and 10 per cent in real estate for passive income. This diversification helps balance her risk and provides multiple growth avenues, ensuring her portfolio is well-equipped to handle market volatility.

Ø  Maximise your EPF and PPF contributions

The EPF or employee provident fund and PPF or public provident fund are excellent tax-saving instruments that offer secure, high-interest earnings for retirement.

Sunita contributes the maximum allowable limit to her EPF and PPF accounts every year. These contributions not only reduce her taxable income but also accumulate tax-free earnings, creating a significant retirement fund that’s secure and government-backed.

Ø  Maintain an emergency fund

Ensure you have an emergency fund worth at least 6-12 months of living expenses. This fund should be easily accessible and kept separate from your retirement savings.

Deepika saves six months’ worth of expenses in a liquid fund, separate from her investments and retirement savings. This fund acts as a financial cushion during unexpected events, such as medical emergencies or sudden unemployment, ensuring her long-term plans remain undisturbed.

Ø  Invest in NPS or national pension scheme

The NPS is a government-backed retirement planning instrument that is market-linked and offers various fund options based on your risk tolerance.

Karan opts for the NPS, choosing a mix of equity, corporate bonds, and government securities, aligning with his moderate risk appetite. This allows his retirement savings to grow with the market while offering the flexibility to adjust the asset allocation as he gets closer to retirement.

Ø  Educate yourself financially

Stay informed about financial planning, investment options, tax laws, and market trends. Knowledge is power, especially when it comes to managing your money.

Neha spends her time reading blogs linked with finance, attending workshops, and consulting with financial professionals. This constant learning equips her with considerable knowledge to make better decisions about her tax planning, investments, and retirement plan, ensuring she enhances her financial potential.

Ø  Assess as well as adjust your plan periodically

Your retirement plan should adapt to your changing life circumstances. Annually, review your assets, savings, and goals and make any necessary modifications.

Every year, Amit updates his retirement plan to reflect changes in his income, spending, and life goals. This regular review keeps him on pace with his retirement objectives, allowing him to make necessary modifications to his savings rate and investment selections.

Final thoughts

Retirement planning is more than a financial responsibility; it is a commitment to your future self. Beginning today not just secures your financial future, but even endows you with mental peace and the opportunity to spend your retirement years as you see fit. Attaining a comfortable retirement involves vision, a proactive attitude, and discipline. Note that it is never too early or very late, to begin with retirement planning. The steps you take now can result in a better and more secure tomorrow.