Primus Senior Living to Invest ₹2200 Crore for Senior Living Projects Across Six Cities
Primus Senior Living, a leading developer specializing in senior housing, is set to invest a substantial ₹2200 crore in developing a series of senior living projects across six major cities in India. This investment will support the creation of approximately 5 million square feet of residential space, aimed at providing comfortable, secure, and accessible homes for elderly individuals.
The new projects are strategically planned in key metropolitan areas, including Bengaluru, Kolkata, Pune, Mumbai, Hyderabad, and Chennai. As India’s senior citizen population continues to grow rapidly, the demand for specialized living spaces that cater specifically to elderly people’s needs is rising.
The homes within these communities will feature a range of modern amenities designed to ensure that seniors can lead active, independent lives, while also having access to services that promote their well-being and safety.
The senior living communities being developed by Primus Senior Living will cater to a broad spectrum of needs, offering a variety of housing options for elderly residents. The company plans to build over 4500 units, with homes priced between ₹60 lakh and ₹3 crore, depending on the location and the type of unit. In high-demand markets like Mumbai, homes will be offered at a premium, ranging from ₹1.5 crore to ₹3 crore, reflecting the upscale nature of these projects. In cities such as Bengaluru, Hyderabad, and Chennai, the pricing will be more affordable, with units priced between ₹70 lakh and ₹1.5 crore.
The focus of these developments is to provide modern, safe, and comfortable spaces for seniors, with features such as anti-skid flooring, wheelchair-accessible doors, and bathroom designs that accommodate mobility challenges. These homes will also include emergency response systems, public announcement systems, and additional safety measures to ensure the well-being of residents.
This initiative by Primus Senior Living is a response to the increasing demand for senior housing, particularly in southern India, where a large proportion of the country’s elderly population resides. The company has recognized that cities like Bengaluru, Hyderabad, and Chennai are ideal locations for such projects due to the increasing awareness of the benefits of senior living communities.
These cities are also experiencing a demographic shift, with more people reaching the age of retirement and seeking housing options that offer convenience, comfort, and specialized care. With 66% of the new projects planned in these southern cities, Primus Senior Living is positioning itself as a leader in this emerging market. The company aims to meet the growing demand for homes that offer more than just shelter but also a sense of community, security, and accessibility for senior citizens.
Despite the high demand for senior living spaces, Primus Senior Living faces some significant challenges in implementing its plans. One of the main hurdles is the high cost of land in metropolitan areas, especially in city centers. As a result, the company has had to focus its efforts on developing properties in the outskirts and peripheral regions of cities.
While this helps reduce land acquisition costs, it also presents logistical challenges, such as the need to ensure that the communities are well connected to key areas, including healthcare facilities, shopping centers, and public transportation. Nonetheless, the demand for senior living projects in these areas remains strong, and the company has designed these communities to be easily accessible, with all the necessary amenities within close reach.
In addition to the housing units, the senior living projects will also offer a range of specialized services tailored to the needs of elderly residents. These services include 24/7 medical support, health check-ups, fitness centers, recreational activities, and personalized care services for those who may need assistance with daily living activities.
The goal is to create an environment where seniors can live independently, yet have easy access to support when needed. The rental prices for units within these communities are expected to be approximately 30% higher than that of regular apartments. This premium reflects the value-added services and specialized features that cater specifically to the needs of the elderly, ensuring that residents have peace of mind and a sense of security in their living arrangements.
The market for senior living rental properties is growing rapidly, with a 30% increase in demand for such spaces over recent years. This increase can be attributed to two key factors. First, non-resident Indians (NRIs) are investing in these properties for future use, knowing that they will be able to retire in comfort once they return to India. Second, more individuals are recognizing the benefits of senior living communities and are choosing to rent in these specialized spaces while they age.
These communities offer a combination of independence and support, making them an attractive option for retirees who want to downsize or for those seeking a retirement plan that includes a built-in support system. The demand for rental properties within these communities is expected to continue growing, and the developments by Primus Senior Living will contribute to meeting this need.
Primus Senior Living’s investment in senior living projects reflects the broader trends in the real estate market, where there is a growing focus on age-inclusive communities. As the elderly population in India continues to expand, there is a need for living spaces that cater to their unique needs. The senior living market is still emerging, but it is gaining recognition as an important segment in the real estate industry.
As more people realize the benefits of these specialized housing communities, the demand for such projects will likely continue to increase. Primus Senior Living is positioning itself at the forefront of this market, with its plans for development across six cities in India. The company’s commitment to providing high-quality, safe, and supportive environments for seniors will make these projects an important contribution to the country’s growing real estate landscape.
By focusing on creating homes that offer both comfort and security, Primus Senior Living is not only meeting the housing needs of India’s senior citizens but also creating opportunities for investors. The demand for senior living spaces is expected to keep rising as the country’s elderly population increases.
Investors looking for long-term growth opportunities are likely to find the senior living sector increasingly appealing as these projects continue to grow. The focus on healthcare, well-being, and community makes these developments attractive to people who want to invest in real estate that serves a growing and important demographic. As the country continues to urbanize and its population ages, the senior living market will become a key area for real estate developers and investors alike.
The development of senior living communities also has broader social and economic implications. These projects will not only provide much-needed housing for seniors but also contribute to local economies by creating jobs in construction, healthcare, and hospitality. The increase in demand for senior housing will also encourage the development of better infrastructure and services in the surrounding areas.
This could lead to the revitalization of peripheral regions of cities, making them more attractive for a variety of residential and commercial developments. Additionally, the specialized care provided in these communities will improve the quality of life for seniors, allowing them to live independently and comfortably for longer periods of time.
As the senior living sector continues to grow, Primus Senior Living is setting the standard for what these communities can offer. The company’s focus on quality construction, accessibility, safety, and specialized services will make these developments some of the most sought-after senior living communities in India.
The ₹2200 crore investment is just the beginning of the company’s long-term commitment to providing seniors with a better way of living in their later years. The success of these projects will serve as a model for future developments, and Primus Senior Living’s reputation as a leader in this field is sure to grow in the coming years.
