Homes For Senior Citizens - New Mantra Of Realtors

Published: June 12, 2009 at 5:21 PM | Author: Administrator
News Source: 3 June 2009 - Rediff.com

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The impact of the current economic slowdown has forced realtors to look out for newer avenues for realty development and they are now targeting senior citizens. This sector is currently untapped and the Realtors consider it as a safe option for liquidity. In the last two to three years, a few projects with focus on senior citizens have been launched in Chandigarh.

Among the realtors who are coming up with projects for senior citizens are Delhi-based CHD Developers and Opera CCPL group. While Panchkula-based Opera CCPL has launched 'retirement homes' named Cassa Gold, CHD Developers is building Active Senior Lifestyle Township comprising homes and villas targeted at elderly people.

All those who are of or above 55 years can buy a property here. Jones Lang LaSalle Meghraj regional director, Mr. Manoj Kashyap feels the cash flow that is readily available with the senior citizens is one of the reasons why real estate companies are looking at this untapped market.