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Value Budget Housing Corporation (VBHC), an affordable housing developer, has announced its entry into the ‘senior living’ housing segment in association with Vedaanta Senior Living.
They launched the first senior living project at VBHC’s existing Vaibhava project at Anekal near Electronic City, Bangalore.
The project comprises 92 units, with 32 one-and-half-bed rooms and 60 two bedrooms, dedicated exclusively to the needs of senior citizens. The apartments will cost between ₹29 lakh to ₹40 lakh.
Speaking at the launch, Jerry Rao, Chairman, VBHC said, “VBHC is proud to partner with Vedaanta, a young and dynamic team with a great track record in this space to deliver highly specialized senior living homes to cater to the vast demand for senior housing in India.”
“Understanding the market dynamics, Vedaanta in association with VBHC, is bridging the gap between the demand and the supply of homes for senior living,” said Ashwin Kumar Iyer, CEO, Vedaanta Senior Living.
Market sizeCurrently, there are close to 100 million senior citizens in India. Their population is projected to reach 240 million by 2050.
“It promises plenty of new business propositions not only for the developers but for the entire economy to develop and offer customised products and services for this segment,” said Rao.
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