Impacted by the current economic downturn that has fling new challenges, realtors and travel houses are now targeting senior citizens.

The sector is new and untapped and the realtors consider them as safe options for liquidity.

Also Read   Related Stories News Now

Also Read   Related Stories News Now - Markets post highest monthly loss since Nov 2011 - TBZ Jan-Mar quarter net at Rs 8 cr - Karnataka to mull cess cut on petrol after polls - M&M to spend Rs 5,000 cr on capex - RINL to kick off overseas roadshows for IPO on June 21 More

Among the developers who have announced projects for senior citizens includes Delhi- based CHD Developers and Opera CCPL group.

While Panchkula-based Opera CCPL has launched ‘Retirement Homes’ named ‘Cassa Gold’, CHD Developers is building ‘Active Senior Lifestyle Township’ comprising homes and villas targeted towards elderly people. Persons of or above 55 years of age can own a property here.

CHD Developers plans to develop 7,000 such homes and villas in these retirement projects planned for the cities of Karnal (Haryana), Rishikesh (Uttarakhand), Mathura (Uttar Pradesh) and Neemrana (Rajasthan). The price of these villas/apartments will range between Rs 27 lakh and Rs 76 lakh.

Vishal Rajpal, chief financial officer of CHD Developers, says in times of downturn when corporate and other people are finding it tough to purchase flats, senior citizens could be banked on. “Senior citizens do not depend much on external financing and have their money parked at right places,” he adds.

Jones Lang LaSalle Meghraj regional director Manoj Kashyap feels cash flow that is readily available with the senior citizens is one of the reasons why real estate companies are looking at this untapped market.

Not only realtors, even the tour and travel operators in the region are realising the potential of this untapped market.

According to Gurinder Bawa, business head, International Travel House Limited, the recession has impacted the company’s business by at least 30 per cent as corporate clients, who till recently remained major clients, had been severely hit by the downturn.

It is laying special focus on senior citizens who are now being labeled as potential business for the company. Bawa says availability of time and money with senior citizens is driving the interest of travel houses towards them.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets post highest monthly loss since Nov 2011 - TBZ Jan-Mar quarter net at Rs 8 cr - Karnataka to mull cess cut on petrol after polls - M&M to spend Rs 5,000 cr on capex - RINL to kick off overseas roadshows for IPO on June 21

Tags : CCPL group | Cassa Gold   Read Business news in  Advertisements -  India's no. 1 Property Site. Click here to know more -  "Discover The Power of One" -  Help a Child Achieve her. Click to know more -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Learn How One City is Running on FOOD SCRAPS. -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More -  2 Lac Apartments, 1 Lac House / Plots. Click here