Houses for senior citizens

While opportunities exist,it is important to understand the ecosystem in which seniors live in India. The aged population faces numerous issues,therefore,it is imperative that real estate developers understand and acknowledge the unique requirements of this sector. A growing sense of insecurity,absence of companionship,fear of getting obsolete,loss of relevance within the family,increasing physical disability,difficulty to access transport,a need for quality healthcare and geriatric care,and complexity in conducting the daily chores of family life are some of the several issues that this population faces today. These,compounded with poor access to the government and other support systems,insurance and legal assistance,simply immobilises them. These nuances of old age need to be thoroughly recognised by India’s developers.

Collapse of support systems

The fast collapse of India’s traditional family support system has given rise to an increased number of nuclear families in the country. In India,more than 60 per cent of households are nuclear and 8.94 per cent of the population is aged above 60 years – indicating that the aged are in greater need of support than ever.

Social stigma

Though the concept of old-age or retirement homes still has a social stigma of abandonment attached to it,this retrograde mindset is slowly changing. Today a large number of seniors are adapting themselves to the idea of ‘senior living’. Elderly,now,prefer spending their sunset years with similar-aged companions and share facilities in settings of enablement and security. Interestingly,a recent survey of households with senior citizens revealed that over 60 per cent found the concept of a senior citizen’s club or a senior citizen’s association as a viable and practical one. Contemporary retirement homes or resorts have replaced the earlier concept of old-age homes,which symbolised the last option for needy and abandoned elderly.

Advanced facilities

Today,retirement homes offer a multitude of facilities to their occupants. The residents no longer have to worry about minute details of daily household errands,paying bills,security issues and timely medical treatment. Rather,they can opt for an active lifestyle and utilise their time in recreational activities,suitable companionship and participation in social work. There are arrangements for prompt response to medical emergencies by way of doctors,ambulances and tie-ups with nearby hospitals. Some projects also offer continuing care units for ailing residents. These living spaces are designed for the aged and their day-to-day needs.

Existing projects

Private entities who have already made a foray into enabled senior living projects are Shobhaa Developers,Rakindo Group,Brigade Group,Ashiana Group of Builders,Paranjape Schemes and Riverdale Retirement Resorts. Their projects are already operational in major cities like Delhi,Pune,Bengaluru,Chennai,Coimbatore. LIC Housing Finance Ltd has made an entrance in the sector with Care Homes at Bengaluru as a part of the social responsibility. Apart from these,there are charitable organisations working in this area of real estate development. A majority of these developments have 50-100 units in the resorts or complexes. The typology of units varies from 1 BHK to 3 BHK units,resorts and studio apartments.

The author is assistant vice president (senior living) Jones Lang LaSalle Meghraj.