Senior Housing Segment: The Emerging Need In Indian Real Estate Market. (Mumbai)
As India’s aging population grows, assisted senior living is becoming increasingly important for providing necessary services, safety, and support. In India, the elderly population is growing rapidly, yet they face a variety of challenges as they age, including social isolation, lack of access to medical care, and reduced attention from family members. Assisted living facilities provide a safe and supportive environment for seniors and enable them to be independent and self-reliant for longer. There is a dearth of
“Senior care” infrastructure, including housing, healthcare, and social services. Seniors have a strong desire for comfortable
living, so they won’t have to worry about the repercussions of living alone.
Residential real estate has a huge scope to tap this very important segment in India and provide a comfortable living. The
need is to look at senior living like an infrastructure project, rather than a real estate project. It is a lifestyle that seniors plan
in advance, rather than a shelter provided on compassionate grounds. It is real estate as a service, with healthcare, social
needs, shelter, food, activities, and total care.
In India, the availability of senior living facilities is somewhat limited. Well-meaning laws and rules have the power to attract
significant private sector investment in this field. From baseline to benchmark, India ought to approach "Senior care facilities"
similarly to infrastructure projects, in which demand is not met by supply.
