Pune Real Estate Attracting Pensioners With Retirement Homes
Pune, due to various factors, is popular both amongst youngsters and retirees. For the youngsters, the city offers a trendy lifestyle while for the old; it offers a lifestyle of serenity. Even in terms of real estate, the city offers a wide range of housing options. For the youngsters, it offers trendy studio apartments and for the retired, it offers retirement homes and townships.
In the wake of growing retiree population, there is an increasing demand for retirement homes and townships, to which Pune caters in a good way. There is a good reason why Pune is becoming a hot spot for retirement homes. There are various features a retirement home offers.
Features of retirement homes
Multiple services are provided in retirement homes. On the basic level, these homes take care of the day-to-day needs such as food, laundry and house-keeping. On the higher level, these homes provide recreational activities such as hobby classes, birthday and anniversary celebrations, to ensure that the retirees are not bored and at the same time, enjoy their retired life. Then, there are concierge services which include paying bills and arranging outings. Other services include round-the-clock medical facilities and security measures such as emergency alarm buttons, which can be used to call for help in case of emergencies.
There are certain architectural guidelines kept in mind when developing a retirement home or layout. For example, retirement homes have anti-skid tiles, bigger balconies for sunlight and low-height shelves.
Pune, a favourite among retirees
There are several reasons why Pune is becoming a favourite location for the growing trend of retirement homes. Pune has a pleasant climate and is naturally air-conditioned due to its geographical location, compared to the humid and over-heated conditions in cities such as Mumbai. Pune is also a smaller city compared to Mumbai and hence, traveling between different locations is easier. Certain localities, while offering good connectivity, also provide scenic natural splendour. In terms of pricing, Pune has competitive real estate prices compared to Mumbai.
When to buy a retirement house
The best time to buy a retirement house is when one has an active professional life of at least 10-12 years to complete. One of the reasons is that, after the age of 45-50, eligibility for obtaining home loans and borrowing costs become more challenging. While providing loans, banks follow the usual guidelines of eligibility such as age, monthly income, a history or stable career and overall credit score. There are however other options, where the children can take a home loan for purchasing a retirement home for their parents.
Retirement homes price trends
Pune currently has three retirement home projects. The size of units vary between 500 sq.ft 1 BHK units/studio apartments to 2,500 sq.ft villas. The projects are priced keeping the limited resources of retirees in mind. Most properties start at Rs. 25 lakhs. Depending on the amenities and services, prices may go up to Rs. 1 crore.
