Where can you get senior living homes in India?

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Everyone wants to retire without any worries. When you think about retirement, what comes to your mind? Old age, dependency on children, or that you settle down at some religious place? Usually, an ordinary person spends his entire life in making his children get well settled. In old age, the elderly spends the rest of his life in the city where his children work. But, there are also some people who do not want to be dependent on anyone in old age. They want to live the last stage of their life according to their own will.

People over the age of 60 are called senior citizens or elderly. Their number has been steadily increasing since 1950. According to the 2001 census, there were about 76 million senior citizens in the country. This increased to 104 million by 2011. According to the United Nations Population Fund (UNFPA), this figure is expected to reach 173 million by 2025 and to nearly 240 million by 2050. The share of senior citizens in the total population will increase from 8 percent in 2015 to 19 percent by 2050.

Considering the increasing number of elderly people in the country, the concept of senior living homes or retirement homes has been introduced. After 2000, market size of retirement homes has picked up pace. According to a study by market research and advisory firm Mordor Intelligence, the market size of senior living homes is about 10 billion dollars in the current year, i.e. 2023. It is expected to grow at an annual rate of about 10 percent until 2028.

Why is demand for senior living homes increasing in the country and what is the reason for it?

Regular housing, i.e. houses built for ordinary people, are located in the center of the cities. While, senior living homes built for the elderly are built in the outskirts of the city, away from pollution and traffic. Hill stations are also good destinations for such houses.

Senior living homes are for people aged 55 or older. In some cases, their age can be 50 years. However, you can buy a retirement home at any age, but you will only be able to shift after the age of 55. Until then, you can rent it out. The biggest difference between regular housing and senior living homes is in the facilities. The house is designed in such a way that an elderly person can easily reach everything kept in inside it.

Can children live with senior citizens in senior living homes?

Do not think of senior living homes as old age homes where old and lonely people live in poor conditions. Today’s retirement homes are magnificent complexes where food, housekeeping, healthcare and security are taken care of. These have facilities like dining, maid and cleaning service, non-slip tiles in interior and common area, holding bars and ramps, grocery store, temples, terrace gardens, etc

Talking about medical, wellness and activity services, there are ambulance, basic clinic facilities, yoga and meditation center, senior citizen friendly health club or gym, dietician and nutritionist service and theater-like services. Considering the increasing crime rate, there is 24-hour security and CCTV monitoring. These facilities may vary from project to project.

What kind of people should buy a senior living home or retirement home?

Southern cities like Bangalore, Chennai, Hyderabad, and Coimbatore are the centers for senior living homes in India. Then, comes the western and northern cities. The reason is pleasant weather, better connectivity, and good healthcare services. Southern cities account for more than 70% of senior living projects in India.

You will find retirement homes in all metro cities, including Delhi-NCR, Mumbai, Chennai, Pune and nearby hill station Lavasa, Jaipur, Coimbatore, Bangalore and Hyderabad. You can also find senior living homes in Dehradun, Rishikesh, Bhubaneswar, Ahmedabad, Bhopal and Vadodara.

What things should a person check when buying a senior living home, so that they do not face any problems later?

80% of senior living homes cost between 40 lakh rupees to 1 crore rupees. The number of luxury retirement homes is quite low. Prices start from 2.5 crore rupees and go up to 10 crore rupees. The price of the house depends on the location of the project and the facilities available.

If you too want an active lifestyle with peace and all amenities in old age then a senior living home can be a good option for you. You can take a bank loan to buy such a house. Be sure to check the services available when buying a retirement home. All necessary facilities should be available. Real estate experts believe that in the coming time these types of houses will reach tier-2 and smaller cities as well.