Tata Housing to invest ` 1,200 cr in retirement homes

Tata Housing plans to invest around ` 1,200 crore over the next five years on developing 13 housing projects for senior citizens. The newly launched projects would be a part of Tata Housing’s current townships in and around Ahmedabad, Mumbai, Kolkata, Chennai, National Capital Region amongst other locations.
“While the majority of population in India is below the age 30, we still have over 98 million people over the age of 55 with a steady growth of 3.5 per cent per annum. As per the United Nations data India would have about 118 million people over the age of 60 years by 2017,” the company informed. 
Commenting on the expansion plans, Brotin Banerjee, MD and CEO, Tata Housing said, “Gone are the days when Indians after retirement thought of sitting at home and leading a passive life. Today’s globetrotting Indian consumer is aware of international standards and is demanding an active lifestyle after retirement. The demand was clear to us with Tata Housing receiving more than 4,000 inquiries from various locations in the first month of the launch of Riva at Bangalore.”

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