MahaRERA Issues Guidelines for Housing Projects for Senior Citizens; Here's What They State

At the global level, over the next three decades (by 2050), of the 2.1 billion people above 60 years, India would account for a 17% share indicating a significant demand growth for senior care including housing in the country.
MahaRERA Issues Guidelines for Housing Projects for Senior Citizens; Here's What They State

MahaRERA Issues Guidelines for Housing Projects for Senior Citizens; Here's What They State. Image Source: CanvaPro

A set of detailed guidelines including building design, kitchens, bathrooms, green building principles among others have been issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA) for retirement homes and senior citizen housing projects. A draft regulation for quality assurance has also been floated. The developers will have to mandatorily provide detailed information on the project through self-certification.
According to a report on TOI, one of the requirements is that elevators in buildings with more than one story have to be wheelchair and mobility device accessible. Wheelchairs should be able to travel freely throughout the structure and should have ramps built into both the interior and exterior architecture.
At the global level, over the next three decades (by 2050), of the 2.1 billion people above 60 years, India would account for a 17% share indicating a significant demand growth for senior care including housing in the country.
Colliers estimates the current demand for senior housing at 18-20 lakh units, which is likely to increase significantly in the next five-six years. This growing demand creates lucrative opportunities for real estate developers and institutional investors, reported PTI.
PTI in its report quoted Association of Senior Living India (ASLI) saying that currently, about 60% of the senior living demand emancipates from tier II cities. Limited senior housing inventory in these cities presents immense potential for private developers looking to diversify their portfolio across the country.
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