Senior Living in Indian Real Estate: A Niche Market for the Affluent
The senior living sector in India is still in its infancy
Senior LivingIndian Real EstateLuxury HousingAffordable HousingRetirement CommunitiesReal Estate NewsMay 30, 2024
According to industry experts, senior housing projects in the market today are affordable only for high networth individuals (HNIs) and those with strong savings. This is largely due to the high cost of land acquisition, construction, and maintenance, which makes it difficult for developers to offer affordable options.
In India, the senior living sector is largely driven by the demand for luxury and premium housing options. Most senior living projects are designed with luxurious amenities and services, catering to the needs of affluent retirees. These projects often come with a hefty price tag, making them inaccessible to the average Indian citizen.
The lack of government support and regulations governing the senior living sector has also hindered its growth. Unlike in Western countries, where governments offer incentives and subsidies for senior living, India lacks a comprehensive policy framework to support the industry.
However, some developers are trying to change this narrative by offering affordable senior living options. These projects are designed to provide a comfortable and secure living environment for seniors, without the luxury tag.
The Indian real estate sector has witnessed significant growth in recent years, driven by the demand for affordable housing. However, the senior living sector remains a niche market, catering mainly to the affluent.
About Silvercrest:
Silvercrest is a leading real estate developer in India, specializing in senior living projects. With a focus on providing comfortable and secure living environments for seniors, Silvercrest aims to revolutionize the senior living sector in India.
Frequently Asked Questions
What is the current state of the senior living sector in India? A: The senior living sector in India is still in its infancy catering mainly to high networth individuals and those with significant savings Q: Why are senior living projects in India affordable only for HNIs? A: The high cost of land acquisition construction and maintenance makes it difficult for developers to offer affordable options Q: What is driving the demand for senior living in India? A: The demand for luxury and premium housing options is driving the senior living sector in India Q: What is the role of the government in supporting the senior living sector in India? A: The government lacks a comprehensive policy framework to support the senior living sector in India Q: Are there any affordable senior living options available in India? A: Some developers are offering affordable senior living options designed to provide a comfortable and secure living environment for seniors without the luxury tag
Answer not available
Related News Articles
Medanta Hospital Wins Mhada Auction for 2.2-Acre Oshiwara Plot in Mumbai
Get insights into the bids and developments in Mumbai real estate, as Medanta hospital acquires a 2.2-acre Mhada plot in Oshiwara for Rs 125 crore.
India on the Cusp of Revolutionizing Emerging Tech and Semiconductor Investments
Prime Minister Narendra Modi highlights India's growing stature in emerging technologies and semiconductor investments, making it an attractive destination for investors.
Arvind SmartSpaces Enters the Mumbai Metropolitan Region Real Estate Market
Arvind SmartSpaces, a leading real estate developer, has announced its entry into the Mumbai Metropolitan Region (MMR), marking a significant milestone in the company's growth strategy. This move is set to revolutionize the MMR real estate market with inn
Bajaj Finserv Share Price Drops as Allianz Plans to Exit Joint Ventures
Bajaj Finserv's share price has taken a hit as Allianz, its long-term partner, plans to sell its stake in their insurance joint ventures. This move has raised concerns among investors and analysts.
Godrej Properties Secures Land in Navi Mumbai for Future Projects
Godrej Properties has made a significant land acquisition in Kharghar, Navi Mumbai, from CIDCO, marking a strategic move to expand its presence in the region. The 6.5-acre plot, acquired for Rs 717 crore, is set to facilitate the development of new reside
PMC and PMRDA at Odds Over Flood Control Plans in Pune
Pune's urban development bodies, the Pune Municipal Corporation (PMC) and the Pune Metropolitan Regional Development Authority (PMRDA), are locked in a dispute over flood control measures. The conflict highlights the challenges in coordinating infrastructure projects to prevent urban flooding.