Surge in senior living projects marks a transformative shift in Indian real estate

financialexpress.com:

In a period of dynamic transformation within the Indian real estate sector, a significant trend has come to the fore: the remarkable rise of senior living projects nationwide. This burgeoning phenomenon can be attributed to a convergence of factors that are reshaping the very fabric of Indian society.

It is necessary to delve into the influential factors, present a snapshot of the current state of senior living projects in the Indian real estate market, and examine the pivotal role of technology in this transformative journey. We also need to scrutinise the potential for substantial growth in this sector and the compelling rationale behind considering investments in senior living projects.

Historically, property prices, cost of living, and pension schemes have significantly influenced the growth of senior living projects. These economic factors have a profound impact on the choices seniors make regarding their living arrangements, making independent living an increasingly attractive option.

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One major driver of the rise in senior living projects is the changing family dynamics in India. The younger generation is increasingly migrating abroad for education and career opportunities. This shift in social security dynamics has reshaped traditional family care arrangements for the elderly. When moving to a different city or country in pursuit of education or jobs, it is difficult to be around parents and care for them. The current generation’s pursuit of global opportunities often leaves parents seeking independent living arrangements back home.

While the emphasis on individual success often leads parents to opt for independent living as their preferred