Mangalore’s Real Estate: The Emergence of Luxury Senior Living Projects

In recent years, Mangalore’s real estate sector has witnessed a significant uptick in the development of luxury senior living projects. The city is located in the southwestern state of Karnataka and is home to a large population of senior citizens.

These luxury senior living projects cater to the growing demand for specialized housing options for the elderly. With increasing life expectancy and improved healthcare, elderly citizens are looking for comfortable living arrangements that offer all the amenities they need.

Traditionally, senior citizens in India have lived with their families or in old age homes. However, with the rise in nuclear families and busy work schedules, there is a need for specialized housing options that cater to the unique needs of the elderly.

One of the key players in this space is Ashiana Housing Ltd., a real estate developer with over three decades of experience in senior care. The company launched its first luxury senior living project, Ashiana Nirmay, in Mangalore in 2014. The project offers spacious apartments with amenities like 24-hour medical assistance, housekeeping services, and a clubhouse for social activities.

Other developers like Brigade Group and Tata Housing have also entered the Mangalore market with their luxury senior living projects. Brigade’s project, Brigade Orchards, offers independent living, assisted living, and memory care options for seniors. Tata Housing has launched Tata Primanti, which offers luxury Apartments and a range of amenities including a clubhouse, swimming pool, and gym.

These projects are changing the face of senior living in Mangalore. They offer seniors a chance to live independently while still being supported by a community that shares their values and interests.

Apart from the amenities, the projects also offer a range of healthcare services to ensure the well-being of the residents. This includes regular check-ups, medication management, and emergency medical assistance.

The emergence of luxury senior living projects is not just limited to Mangalore. Cities like Pune, Bengaluru, and Chennai have also seen a surge in the development of senior living projects.

According to a report by JLL India, the senior living market in India is expected to grow at a CAGR of 20-25% over the next five years. This presents a significant opportunity for real estate developers to tap into this market and offer customized housing options for seniors.

However, there are challenges that developers need to overcome to make these projects successful. One of the key challenges is affordability. Luxury senior living projects can be expensive and not accessible to everyone. Developers need to come up with innovative pricing models to make these projects more affordable.

In conclusion, the emergence of luxury senior living projects in Mangalore is a positive development for the city’s elderly population. These projects offer seniors a chance to live independently in a comfortable environment while also being part of a community. With the demand for specialized housing for seniors on the rise, the sector presents a significant opportunity for real estate developers to tap into this growing market.

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