Demand for seniors’ housing
The demand for specially-designed homes for Indians in their sunset years may be rising but a slew of issues have ensured that it is seldom met with appropriate supply.
Builders have largely stayed away from the segment because although there is demand, many senior citizens remain financially dependent on their children and, therefore, their approval. At the same time, many builders haven’t yet woken up to the idea of parents staying away from their children. Builders also do not seem to show the patience to see through such a project.
“Some Credai members did not agree that there were enough seniors ready to stay away from their children. We had to educate them that there is enough demand and the same has to be taken positively,” said Shantilal Kataria, president of Credai Pune. He expressed hope that many builders will come forward to meet the demand in the “very near future.”