Industry players said senior-living communities are increasingly being designed as integrated ecosystems, equipped with healthcare facilities
These homes are being designed specifically for people aged 60 and above. Hyderabad currently has around 5,000 senior-living units, with the existing stock estimated to be worth more than Rs 2,000 crore to Rs 3,000 crore, according to CREDAI. However, industry estimates suggest that the city needs at least another 10,000 to 15,000 such units. It launched its Pranamam senior-living project in AS Rao Nagar in 2011. The project, comprising 330 units, has been sold out, according to the company. The developer is now developing another 513-unit senior-living project at Gowdavalli, with around 95% of the units already booked. “A recent senior-living study found that southern India accounts for nearly 60% of the country’s organised senior-living market, driven in part by changing family structures and the growing number of children living and working overseas.
Because everything we need is right here, we hardly need to step out. Three young entrepreneurs have recently entered the market through Vera Vita Senior Living, which has launched Amaya Senior Living in Hyderabad. You Can Also Check: Gold Rate in Hyderabad | Silver Rate in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad | Hyderabad AQI | Weather in Hyderabad | Petrol Price in Hyderabad | Diesel Price in Hyderabad | CNG Price in Hyderabad | LPG Price in Hyderabad Stay updated with the latest Hyderabad news.
Industry players said senior-living communities are increasingly being designed as integrated ecosystems, equipped with healthcare facilities such as nurses, ambulances, doctor consultations and physiotherapy, along with housekeeping services. Parents increasingly want to live independently rather than depend on their children, particularly as families move from joint families to smaller and micro-family structures,” said Sumanth Reddy, chairman, National Association of Realtors India. One of the main reasons for the demand is that senior citizens find companionship along with round-the-clock monitoring and quick access to help,” said G Ravi Kumar, director, Saket Engineers, one of the early developers to enter the segment in Hyderabad. Demand is emerging particularly in the city’s western and north-western corridors, including Gachibowli, Kokapet, Narsingi and Tellapur, according to the developers. These demographic shifts are creating an opportunity for Hyderabad to move beyond the traditional concept of senior housing,” said Arudradev Rao, founder, Amaya Senior Living. It feels like one big family,” said Vasantha Kurucheti, a resident of Saket Pranamam.
Hyderabad: For decades, the city’s housing market has revolved around young professionals seeking homes closer to their workplaces, newly married couples buying their first flats and families looking for an extra bedroom. But a new segment is increasingly making its presence felt in Hyderabad’s real estate market — senior living. Their features, too, are elderly-friendly: anti-skid flooring, walking tracks, wellness and recreational facilities, and emergency-response systems. The growing demand has also begun attracting developers and investors to the segment. “The concept is still relatively new in Hyderabad, having gained visibility only over the past few years. But demand is now beginning to pick up. The potential is far from being tapped, given the demand. A mini world for seniors: “Senior-living communities have become a mini world for residents, where they can find healthcare for their needs, nutritious food at an in-house restaurant, attendants to provide assistance and several other services under one roof. The segment is also attracting a new generation of developers. The ‘second innings’ address For many seniors, the decision to move into a senior-living community is not necessarily about buying another property. “What I love most is the companionship. We celebrate festivals and have meals together with people of our age group. We have a temple within the community, and there are cultural activities twice a month. Download the TOI App.