The senior housing sector is estimated to reach from US$ 1.26 billion in 2016 upto US$ 7.7 billion by 2030: PHD Chamber

Pic- Report Launch- Senior HousingBy Accommodation Times Bureau

It is necessary to recognize that senior citizens are a valuable resource for the country and create an environment that provides them with equal opportunities, protects their rights and enable their full participation in society. Thus, extending support for senior citizens to ensure their social security, healthcare, shelter and welfare. Therefore, senior housing would appropriately meet the needs of elderly population. Senior housing has evolved over the years to better match the new demand and lifestyle of seniors by offering a broader range of choices and variety of care facilities that allows senior to age with comfort and security. The senior housing sector in India is at a nascent stage with huge opportunities for the real estate developers, service providers, healthcare players and operators. Unlike western countries where the senior living sector has gained maturity, India has huge untapped potential in the sector.

 

The present study focuses on to analyse the trend of senior housing sector in India, study the view of key players or stakeholders operating in this sector in India, both from the perspective of key players or stakeholders operating in this sector and consumers perspectives. A survey of about 30 senior housing projects developers, 486 senior housing residents survey and 2,598 prospective consumers survey have been undertaken. According to the survey, around 30% of the developers have been operating senior housing projects in India for about 2-5 years, 25% for around 1-2 and 5-7 years each and only 20% for more than 7 years. This is due to the fact that senior housing is a nascent sector in India and has only taken off since the beginning of the 21st century.

 





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