Real estate seeing new consolidation, changing senior living spaces in Bengaluru

With a mid-scale developer buying a Godrej property in Bengaluru for senior living apartments, experts say this will evolve as a sub-asset class for an integrated real estate model.

Godrej Properties has sold one of its six towers at the Godrej Royale Wood project to a mid-scale real estate developer, Manasum, in northern Bengaluru for over Rs 100 crore. The tower, sprawling over 1.7 lakh square feet (sq ft), has 191 apartments designed for senior living, starting from Rs 46 lakh, as confirmed by Manasum.

Experts say several prominent builders have started building assets and creating sub-assets (by exiting partially or entirely) like senior living, affordable housing, or even co-working that become attractive for both homebuyers and developers. This, in turn, helps local developers to absorb the inventories either through a complete buy-out or partnerships.