Developers Eye Senior Citizen Home Projects

Bangalore: The increasing number of senior citizens in India has lead to the huge scope for investment and development in this particular sector. According to Jones Lang LaSalle survey, India offers vast scope for developers, health players and service providers to contribute towards providing better facilities for Senior citizens. In the Real estate market the trend of senior citizen homes is gaining momentum as more number of developers are planning to invest on it.

Chennai developers who are focusing on residential developments are now planning to step into the senior citizens’ home category considering the potential of this sector.

Many senior citizens in India crave for good facilities along with comforts, and considering the fact, developers are coming up with senior specialty apartment projects. For instance, Covai Property Centre is planning to launch a senior specialty apartment project at Vandalur, which is specifically for retirement community.  However, the company has already applied this type of project in Coimbatore and is planning to expand its wings in Pune, Hyderabad and Pondicherry.

Senior citizens’ home provides some specific facilities, different than the facilities implemented in usual housing complex. The senior citizen home offers independent atmosphere for residents, which includes modern central kitchen along with dining facilities. Moreover, the vital part of these projects will be to provide medical facilities, which includes medical centre along with doctors either resident or visiting doctor, resident nurse, physiotherapist and fully equipped ambulance. In addition to this, entertainment and leisure activities will also be there along with good maintenance service and 24 hours security.

Furthermore, to develop such projects, location is one of the significant factors as the projects should be in close proximity to infrastructure like hospitals and retail centres. Property developers believe that the suitable place to develop such projects is the city suburbs as the suburban areas have improved in infrastructures in terms of connectivity as well as offers serene atmosphere, which is far better than city life.  According to industry analysts, professionals who are relocating their place leaving their parents to manage all alone will lead to the demand of such projects to grow.