The lack of quality human capital for senior citizens remains one of the major challenges for real estate players. The industry needs team members who have exposure to managing the emotional well-being of seniors, not just their functional needs, according to a Confederation of Indian Industry (CII) report.

The report ‘India Senior Care Industry 2018’ suggested that there is much room for the development of the sector. Development of this crucial sector — catering to the needs of about 130 million seniors — requires a multi-dimensional approach targeting different aspects of the senior citizen community across economic, health, urban-rural, and education segments.

“The senior population in India is supposed to triple by year 2050 from 2011 and longevity will increase from 67.5 in 2015 to 75.9 in 2050. However, despite such staggering demographics, none of our urban infrastructure is built keeping seniors in mind,” said Ankur Gupta, Joint Managing Director, Ashiana Housing.

The report says isolation, hassles of day-to-day living with increasingly- complex ecosystems, lack of safety are some of the major concerns of the seniors.

Saumyajit Roy, founder, Ignox Consulting, said the objective of the report was to bring out the various elements that would constitute the ‘senior care’ sector for India.

“It is the right time developers invest in the senior real estate projects. This segment gives 10-15 per cent better results than normal residential projects,” Roy said.

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