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Realty firm J Estates has forayed into the senior living housing segment with the acquisition of three land parcels in Gurugram, where it plans to develop more than 450 homes for elderly residents. Spread across over eight acres, the three upcoming premium projects are expected to generate a combined Gross Development Value (GDV) of around INR 2,100 crore. The move marks a strategic diversification for the company as it taps into the growing demand for purpose-built senior housing in India. J Estates said the projects will focus on creating thoughtfully designed living environments that promote well-being, social interaction, and peace of mind for senior citizens, a segment expected to gain prominence in the coming years.
Realty firm J Estates has bought three land parcels in Gurugram to develop more than 450 homes for the elderly and is expecting a total revenue of around INR 2,100 crore from these three upcoming projects. Advertisement
In a statement on Wednesday, the company said it has entered the senior living housing segment as part of its long-term growth and diversification strategy.
The company is coming up with three premium senior living projects in Gurugram, spread across more than eight acres and comprising around 450 units.
The estimated Gross Development Value (GDV), or sales value, of these projects in the senior living segment is pegged at around INR 2,100 crore, it added.
Commenting on the development, Anil Godara, Founder and Managing Director, J Estates, said, Senior living is about more than housing; it is about understanding life stages and responding with empathy and responsibility. Our entry into this segment reflects our conviction that seniors deserve thoughtfully designed environments that foster well-being, social connection, and peace of mind. He added that senior living is expected to play an increasingly important role in India's residential landscape over the next decade.
J Estates has previously delivered one commercial project in Gurugram and a plotted development in Hisar, Haryana.
Source - PTI
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