Bhiwadi, as a matter of fact, has been the first town to conceptualise what is the most need-based housing in India. Facts speak for themselves. There are 98 million people over 55 with a steady growth of 3.5 per cent per annum. In terms of market numbers, in an analysis of 135 urban cities with a total population of 223 million and 52 million households, as many as 12.8 million families have senior citizens.
Bangalore-based Nitesh Estates plans to grow its commercial & rental assets to more than 5 million sq. ft. of space in the near future. This includes locations in the central business districts and significant micro markets of Bengaluru. Nitesh Estates will develop and acquire A-Grade commercial & rental assets with an investment of around Rs. 1500- crore across multiple projects.
There has been less of compact housing on offer and hence one wonders whether there are few takers for 1BHK in the city or there are certain other fundamentals of execution that come in the way of creating compact housing units.
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