Outlook Money - Is Senior Housing Right For You?
Ravi Reddy, president of National Real Estate Development Council (Naredco) NextGen, an autonomous self-regulatory body established in 1998 under the aegis of the Ministry of Housing and Urban Affairs, says, “The market is projected to expand to 2.5 million units over the next decade, up from around 1 million in 2024. This indicates a considerable opportunity for developers as the penetration rate is just 1 per cent compared to countries like the UK and the US. Also, about 60 per cent of the current demand comes from Tier-II cities, where availability of senior housing is limited.
