Senior Living Housing - Why Senior Housing Demand is On The Rise?

The demand for secure homes for senior citizens has increased post-pandemic as the elderly population struggled with repeated lockdowns, seeking a sense of community. As per data reported by available sources, enquiries for a living community for elderly citizens rose by 30 per cent in the last few years. It is believed that it will further increase in the coming years, considering the increased focus on health and well-being, apart from a fast-ageing population. It is seen that many real estate developers have started catering to this rise in senior housing demand, either by building dedicated towers with senior citizen-friendly amenities within a regular housing project or with the development of senior citizen housing projects.

Dhruv Agarwala, the Group CEO of Makaan.com, Housing.com and PropTiger.com, said, "India's 1.3 billion population is ageing faster than before. The population of senior residents (above 60 years) is projected to register a 130 per cent growth between 2020-2050 and is set to reach a whopping 320 million from the current 139 million.” He also added that the sheer size of the population in this age group presents a huge investment potential. Betting on Senior Living

Until a few years ago, senior living communities remained limited to certain urban centres in the country. Additionally, they were also limited to prominent serene locations that experience pleasant climate throughout the year. However, this segment of the population holds increased potential as health and wellness take centre stage during certain times. Since the senior population is on the rise, it is an excellent opportunity for real estate investors and developers to cater to this demand. Currently at a very nascent stage, senior living housing came into focus after the outbreak of the global pandemic.

In 2021, India had about 138 million people aged 60 years and above as per the country’s National Statistical Office. This number is estimated to increase by 41 per cent, making the population of senior citizens reach 194 million in the next 10 years.

Senior Citizen Housing in Southern India

Interestingly, many southern cities of the country have emerged at the forefront of developing housing societies for senior citizens. In addition to that, the southern cities have taken up about 70 per cent share of the overall senior living projects in the country. Looking at the geography of India, it can be inferred that a majority of the senior living projects in the country are concentrated in southern cities such as Kochi, Bangalore, Coimbatore, and Chennai, among others. This region of the country for senior housing is followed by the western cities and northern cities of India.

=> Real Also: Ikaria - Purpose Designed Senior Living in Ahmedabad

As per reports, it is believed that real estate developers have now started offering senior living housing projects in the country either on a lease basis or on exclusive discounts. Furthermore, there are different models of senior living housing which can be broadly categorized into independent living, assisted living, skilled or nursing care, and continuing care retirement homes. Such projects also have medical facilities such as ambulances, regular medical check-ups, tie-up with hospitals, and round-the-clock medical staff in case of emergencies.

In the last year, many real estate developers have started focusing on this asset class as a part of their large residential projects and townships. Adani Realty has developed residences for senior citizens within it’s integrated township, Adani Shantigram located on the outskirts of Ahmedabad. Several other real estate developers have also started developing senior citizen housing projects in India to cater to the increasing demand for the same.

Senior Citizen Housing Projects in Ahmedabad

Ikaria, a new addition to the integrated township of Shantigram in Ahmedabad, is a dedicated senior housing society for people aged 55 years or above. It is designed to make the lives of senior citizens more comfortable and pleasant, while also making sure it is not heavy on the pocket. The thoughtful planning that has gone into this project is to provide a hassle-free living experience for senior citizens of the country.

Ikaria offers luxurious yet comfortable 1 and 2-bedroom senior-friendly apartments in Ahmedabad, for a serene living experience. These apartments are equipped with designs and architecture to ensure a hassle-free living experience. Additionally, the apartments boast spacious rooms and skid-resistant flooring in bathrooms for additional support. Further, we have installed shower seats and grab bars in the primary washroom of every apartment in the society to help aid in everyday chores without needing assistance.

Modern Amenities

Ikaria by Adani Realty is home to a range of modern amenities and facilities such as a medical suite, community dining area, multi-purpose lounge, fitness zone, and wheelchair and stretcher-friendly elevator, among others. Just like the bathrooms in the apartments, the common passages in the complex have skid-resistance flooring too. The heat, smoke and gas sensors installed in the apartment complex will give a heads-up in case of emergencies. Furthermore, the common passageways have benches and handrails to help the senior citizens take walks or move around all by themselves. Lastly, one of the best features at Ikaria is the installation of solar panels. This is to help preserve energy and your electricity bills so that you have one less thing to worry about.

Summing Up

As senior living communities continue to flourish in both metros and smaller towns throughout the nation, it is expected that a variety of aspects in terms of facilities and services for the senior citizens will evolve in the upcoming years. Adani Realty is known for its stellar delivery reputation and legacy of building some of the most luxurious structures in the country. We promise a comfortable yet luxuriant lifestyle to our residents, along with access to world-class amenities and facilities for a secure living experience. Our trust and excellence are integrated with beautiful design aesthetics and cutting-edge construction techniques to develop exemplary projects in India’s most promising cities.