Advantages of Retirement Homes
With the number of senior citizens increasing in India in recent times, the concept of ‘Retirement homes’ has gained in prominence, especially in big cities. As per projections made by the United Nations Population Division, there would be a significant rise in India’s older population. From about 8% in 2010, it is set to rise to about 19% by 2050, which would be about 325 million.
Need for Retirement homes
The need for such homes has arisen due to the fact that senior citizens often have to live a life of drudgery post retirement. This is especially true in cases where their children are either living abroad or in other places in the country. Retirement homes provide various facilities and conveniences that makes the lives of senior citizens a pleasure.
Cities and prices
According to estimates, there are currently about 40 ‘Retirement home’ projects across India. They have been developed mainly in major cities like Delhi, Bangalore, Hyderabad, Chennai, Kochi, Coimbatore and Pune, taking into consideration the demand for such homes in these cities. Another 30-35 projects are expected to be completed in the near future. The price range for ‘Retirement home’ projects in India ranges between Rs.20 lakh to about 1 crore, depending on the area and the facilities that are offered.
Major projects across cities
Max India Ltd is a prominent developer which is catering to this niche market in Delhi, through its group firm, Antara Senior Living Pvt Ltd. Serene Urbana is a major project in Bangalore, located about 5 km from the International Airport at Devanahalli, with 314 ‘retirement apartments’. Hyderabad has also a project called Serene MAK, located off the Srisailam highway, that caters to the geriatric housing segment. It consists of 250 apartments and and is being developed as a joint venture between Covai Senior Care Constructions and MAK Projects
Services provided
Availability of various services that are provided in retirement homes is a major advantage that has prompted many retired couples to opt for such homes. This includes services provided by maids, electricians, plumbers, carpenters as well as other service staff provided by developers of Retirement homes. Besides, all shopping facilities are available within the premises of such projects, thus avoiding the hassles of going out to make purchases, especially of necessities.
Companionship
Another important advantage that Retirement homes provide senior citizens is companionship with people in their same age group. This facility is rarely possible in any other residential setting due to various hurdles. It provides a strong bonding between like-minded senior citizens living in such homes who share similar hobbies and interests. They may include people interested in fitness, food, books, music, theatre or any other similar interest. It enables them to join together and engage in interesting conversations on the topic of their interests.
Medical and healthcare facilities
Accessibility to all healthcare facilities is another important advantage that Retirement homes offer. All medical and healthcare facilities are available within the premises of such homes. This will provide assistance in handling life-threatening situations or in managing a crisis. Besides, there are many other healthcare facilities that include regular health checkups, preventive care programs, medical assistance, pharmacies, health clubs, gyms, swimming pools, jogging tracks, lush green and healthy surroundings etc
Leisure activities
Retirement homes also provide opportunities for senior citizens living there to engage in various activities and skills that are taught there. They include various hobby classes like cookery classes, as well as various other technical, artistic or creative skills. Besides, it also provides residents the opportunity to indulge in various social causes that would benefit society at large. This would provide a sense of satisfaction and contentment to the senior citizens residing there.
Safety and security
Over and above all these factors, one of the greatest advantages of living in Retirement homes is the safety and security that such homes provide. Considering the increasing crime rate on senior citizens living alone in individual homes, especially in big cities, Retirement homes form an ideal alternative.
According to estimates, there are currently about 40 ‘Retirement home’ projects across India. They have been developed mainly in major cities like Bangalore, Chennai, Kochi, Coimbatore and Pune, taking into consideration the demand for such homes in these cities. Another 30-35 projects are expected to be completed in the near future.
