GSRK Estates
Home Services Projects Media Center About Us Contact Us Download Career
19 SEZs in Telangana, Andhra P
 
Tax Benefit for 1st Home Buyer
 
NIMS-Rangapur building, 400 ac
 
Report seeks Rs. 750 cr. for d
 
ORR Growth Corridor, ORR Phase
 
Hiring back as attrition soars
 
Irrigation Projects in Mahaboo
 
State entrusts protection of g
 
Hyderabad IT investment region
 
AP proposes 400 Acre electroni
 
Andhra Pradesh inks MoUs for R
 
Govt cancels illegal layouts i
 
Companies and states oppose La
 
Land acquisition bill - Revise
 
HMDA master plan covering 6000
 
AP has the most number of SEZs
 
Peugeot may choose Chittoor to
 
MIC Electronics new LED produ
 
Mahindra to set up tractor man
 
Capgemini has more staff in In
 
Show All News
Media Information
Luxury living for senior citizens

Published & Updated as on - 2010-02-16


Move over old age homes. Luxurious ’senior living’ has become the new exciting concept for real estate developers cashing in on the growing ageing population in the city. Modelled on colonies abroad, the projects generally have 300-400 units that can be bought only by people over 60. A decade later, residents will move into the ‘assisted living’ quarters within the same complex, where they will be given housekeeping and food facilities. When the owners are well into their twilight years, those ailing will migrate to the ‘old age’ segment where they will be provided with nursing and medical support.

“The concept of Continuing Care Retirement Community that includes all these three facilities under one roof is yet to catch up in a big way in India,” says Mr A. Shankar of Jones Lang La Salle Meghraj, the global real estate consulting company. “Even in luxurious retirement homes in the country, old people cannot own the accommodation they stay in. With nearly one-fifth of the population expected to step into their 60s by 2050, catering to this segment will become highly profitable,” he explains, pointing out that the future will see a slew of such projects in the city.

Builders started thinking hard about this niche area when the real estate market became bumpy last year, says Mr T. Chitty Babu, president, Confederation of Real Estate Developers’ Association of India, whose one such project, Adena, with 200 units on OMR, was sold out in a day. “Everything about the design and landscape of the project is elders friendly,” he said.Source :

Deccan Chronicle

Newsletter Subscription
 
 
Copyright Reserve to © GSRK Estates 2009-10 | Privacy Policy | Disclaimer | Terms of Use | Site Map -- Web Technology ETimes (india)