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Time of India
15-05-2025
- Business
- Time of India
Developers expand senior living footprint as occupancy, lifestyle preferences drive growth
NEW DELHI: With India's senior population expected to grow by 121% by 2050 and urban over-50s set to comprise 38% of the population, according to a recent report by Capgemini , developers are scaling up urban senior housing across metros and large cities. Ashiana Housing , one of the early entrants in the space, is ramping up its investments in cities like Chennai, Delhi NCR, Pune, and Bengaluru. 'We've seen strong market response. In places like Chennai and Delhi, we don't even have units left to rent or resell,' said Ankur Gupta, joint managing director of the company. "We're planning 4–6 new senior living projects this year and expanding from one to multiple projects per location." Srijan Realty, in partnership with Primus Senior Living, launched its first senior project in Kolkata, with a ₹100 crore investment. 'We see demand rising in Kolkata's EM Bypass, Rajarhat and New Town. We're creating experience-led communities with integrated healthcare, smart monitoring, and senior-specific design,' said Keshav Agarwal, director of the company. Antara Senior Care , backed by Max Group, is expanding its senior living model from Dehradun and NCR to Chandigarh and Gurugram Phase 2, with an annual development target of 1.5 million sq. ft. "We're seeing strong demand from NRIs, HNIs, and tier-I city seniors,' said Rajit Mehta, managing director & CEO of the company. For all three developers, demand has shifted toward lifestyle services and medical infrastructure. 'Today's buyers are proactive, planning communities around social connection, comfort, and on-call care,' said Gupta. Capgemini's findings show 46% of Indian seniors are prioritizing experiences over real estate upgrades, indicating a strong tailwind for senior living models focused on community, convenience, and health infrastructure. 'Senior living is no longer about just real estate—it's about lifestyle and care,' said Shreya Anand, director at Vedaanta Senior Living . The company is investing ₹300 crore over the next three years to expand its footprint across South India and emerging tier-2 cities like Coimbatore, Mysuru, and Thrissur. Anantharam Varayur, co-founder of Manasum Senior Living , echoed a similar sentiment: 'We've restructured operations to focus on affordability without compromising care. We've cut costs by 25–30% through direct hiring and in-house training, while also enhancing resident service quality.' Both developers are addressing healthcare as a core pillar. Manasum has tied up with hospitals such as Sparsh and BGS Global, offering 24/7 nursing, on-site healthcare, and priority hospital access. Vedaanta offers a layered care system, blending in-house medical teams with technology-based wellness tracking. 'Our integrated townships offer seamless transitions from independent to assisted care,' Anand said. These operators are aligning with the Capgemini report's observation that aging societies will drive consumer shifts away from asset accumulation toward lifestyle services. With the majority of respondents indicating a desire for experience-led living, developers are leaning into personalization, flexible leasing, and community-based living formats. What's clear is that India's senior housing market is transitioning from niche to necessity—and the new age of aging will demand more than just homes.
Time of India
25-04-2025
- Business
- Time of India
Kolkata developers partner to build elderly-friendly communities with Bengaluru-based firm
KOLKATA: Real estate developers in Kolkata have partnered with a Bengaluru-based firm that focuses on developing senior living communities. Two developers in Kolkata — Srijan Realty and Merlin Group — have already collaborated with Primus to promote multi-generational living. Primus and Srijan Group announced the development of Primus Ganges at the 26-acre Royal Ganges riverside township project in Maheshtala. Approximately 150 units — a mix of 2BHK and 3BHK — will be developed for senior living in the first phase, with a provision to develop another 150 units in the second phase. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata Primus is also in advanced discussions with two other developers — Merlin Group and Primarc — for similar senior living units in its projects in Rajarhat and elsewhere. These projects, to be announced later this year and early next year, will increase the total number of units for senior living communities to over 1,000. "We are not creating 'vriddhashrams' or old-age homes. Instead, we are creating an opportunity for the elderly to live with their children or independently in these towers. At least one member of the family purchasing flats in these towers must be 55 years old. The children can also stay separately in separate towers in the complex that are not meant to house senior citizens," explained Primus MD Adarsh Narahari . The units in the towers for the elderly will be elderly-friendly and fall-safe with anti-skid vitrified tiles in living areas, anti-skid ceramic tiles in restrooms, utility areas, and balconies to reduce the risk of slips and falls. They will feature wide doors for easy wheelchair and walker access, senior-friendly lever door handles that are easier to grip, restroom doors with outward swing and emergency release features, foldable grab bars near the WC, washbasin, and shower area, shower seats and glass partitions in the master restroom, two-way light switches near the bedside, and footlights for night-time safety. Additionally, there will be sensor lights in the master bedroom and restroom, rounded edges on internal walls to minimise injury from accidental bumps, wooden handrails in passageways, ramps, and lifts, panic alarm buttons in the master bedroom and restroom, nurse calling and an assistant alarm system, as well as emergency call systems in common areas. "Primus will also offer a comprehensive, proactive, and personalised healthcare experience that prioritises active, healthy living. We will take care of five essentials for prolonged ageing: delicious, balanced meals planned by nutritionists; doctor-led wellness and fitness programmes with fall prevention strategies; in-room safety features like remote-control bidets, heated towel rods, automatic commodes, gas leak detectors, wheelchair accessibility, mobility support, anti-skid tiles, and panic alarms; ambulance on campus, medical attention, trained staff; regular community activities to keep elders socially and mentally stimulated; and assistance with everyday tasks for hassle-free living including regular housekeeping, medicine delivery, errand assistance, and travel accompaniment," said Narahari. Srijan Realty Director Keshav Agarwal said Kolkata, with a sizable retired population with children working in other Indian cities or living abroad, needed such a project where the elderly could enjoy their independence while living within a vibrant multi-generational community. "We are trying to create a community that looks after the physical and mental well being of elders," said Agarwal. Merlin MD Sushil Mohta said he would announce the senior project later this year. "It will be part of Merlin Rise development in Rajarhat," said Mohta. Sources said around 400 units could be developed for senior living in the project that will have 7,000 units. Primarc MD Siddharth Pansari said the group could look at two projects with senior living with over 400 units. "We will announce the projects sometime late this year or early next year," he added. While the investment in Royal Ganges will be Rs 125 crore, the investment in all the projects could reach Rs 650 crore by next year.
