Tata Housing has decided to invest Rs 1,200 crore for building senior citizen houses in eight cities, including Ahmedabad, Mumbai, Kolkata, Chennai, NCR.

The launch of Riva Residences in Bangalore has helped this company in understanding the living concepts of senior citizens. Its infrastructure will include modern utility-based design facilities, services and ambience.

Each unit in Bangalore is worth Rs 45 lakh and Rs 60 lakh. "There will be an increase of about 3% in the prices of Banglore’s housing projects. All units would be either 1 or 2 BHK," said a Tata Housing official.

Tata Housing has also tied up with Apollo for health services and Tata Capital, Central Bank and Axis bank for providing loans to potential customers. "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 enquiries from various locations within the first month of the launch of Riva at Bangalore," concluded Brotin Banerjee, MD & CEO of Tata Housing.

The total number of houses has been estimated to reach1,500 to 2,000 units, occupying over 70 million sq ft of area.