prasad1
Active member
Dr Sharad Apte, in his early 80s and a Mumbai resident, decided to shift to Pune a few months ago. Apte, along with his wife, moved to a project specifically designed for senior citizens.
Better security and medical facilities, a less polluted environment and the opportunity to live with people of their own age group were the chief reasons for the relocation.
"Our old neighbourhood had become crowded and noisy, and there was an increasing sense of loneliness, as many of the neighbours we had grown up with had moved out. With our children settled in the US, we were also worried about who would take care of us during a medical emergency," says Apte.
He is not alone. Quite a few senior or about-to-retire citizens are moving into these residences, specifically designed to meet their needs.
Though at a nascent stage, senior living projects are gaining popularity, backed by builders such as Paranjape Schemes, Ashiana Housing, Adani Realty, Tata Housing and Silverglades and Brigade. These projects are generally targeted at the financially well-off and upwardly mobile Indians who see senior living as an attractive option for their elders.
"Senior NRIs accustomed to such facilities in developed countries are seeking a similar lifestyle post retirement, back home. They are looking for assured security and health care along with a community atmosphere," says Brotin Banerjee, managing director and chief executive officer (CEO), Tata Housing Development Company.
Adds Om Ahuja, CEO, residential, Brigade Group: "Friends in their early 50s are buying houses together, as they want to maintain their social circle in their golden years. Many units are bought as part of retirement planning."
Facilities
The design of most flats are tweaked to suit the requirements of senior citizens. The buildings are generally up to five storeys high and offer one- or two-bedroom units, with wider doors, bigger bathrooms, ramps for wheelchair access, and bigger lifts.
For instance, Paranjape Scheme's Athashri Baner project in Pune offers anti-skid vitrified tile flooring in all rooms, large flush doors to accommodate wheelchairs, corridors with support railings and intercom facility.
The townships or complexes provide medical facilities such as 24x7 availability of nursing staff, doctor on call, physio rooms and other emergency facilities. Tata Housing has tied up with Apollo Healthcare for Riva Residences, its integrated residential complex in Bengaluru.
Apollo operates a 24x7 health care centre equipped with telemedicine facility which enables a resident to consult any doctor in the Apollo network across India.
There may be a mess facility offering customised or home-cooked food daily, in addition to a concierge, housekeeping and laundry services. Indoor games, community hall, library, screening hall for movies, arrangement for visits to art galleries, malls and museum could be other attractions.
These flats are sold on owned, lease deposit or pure rental models, but the former is much more prevalent in India than the other two. While the buyers of these properties can be of any age, the people residing have to compulsorily be of the age of 55 and over.
The nominee or the heir of the buyer can inherit the house. However, s/he will not be able to live in it till they turn 55 or 60. Till that time, they can keep it shut or rent it to someone who is above 55.
If the heir wants to sell the property, the new resident should be a senior citizen. In a lease deposit model a percentage of the capital value is taken upfront and the rest is paid in the form of monthly rentals over the period of stay.
End-users can enter the project by paying 60-70 per cent of the market value of the unit upfront and the rest in the form of rentals over the period of stay.
http://www.rediff.com/business/repo...ement-home-five-years-in-advance/20150706.htm
Better security and medical facilities, a less polluted environment and the opportunity to live with people of their own age group were the chief reasons for the relocation.
"Our old neighbourhood had become crowded and noisy, and there was an increasing sense of loneliness, as many of the neighbours we had grown up with had moved out. With our children settled in the US, we were also worried about who would take care of us during a medical emergency," says Apte.
He is not alone. Quite a few senior or about-to-retire citizens are moving into these residences, specifically designed to meet their needs.
Though at a nascent stage, senior living projects are gaining popularity, backed by builders such as Paranjape Schemes, Ashiana Housing, Adani Realty, Tata Housing and Silverglades and Brigade. These projects are generally targeted at the financially well-off and upwardly mobile Indians who see senior living as an attractive option for their elders.
"Senior NRIs accustomed to such facilities in developed countries are seeking a similar lifestyle post retirement, back home. They are looking for assured security and health care along with a community atmosphere," says Brotin Banerjee, managing director and chief executive officer (CEO), Tata Housing Development Company.
Adds Om Ahuja, CEO, residential, Brigade Group: "Friends in their early 50s are buying houses together, as they want to maintain their social circle in their golden years. Many units are bought as part of retirement planning."
Facilities
The design of most flats are tweaked to suit the requirements of senior citizens. The buildings are generally up to five storeys high and offer one- or two-bedroom units, with wider doors, bigger bathrooms, ramps for wheelchair access, and bigger lifts.
For instance, Paranjape Scheme's Athashri Baner project in Pune offers anti-skid vitrified tile flooring in all rooms, large flush doors to accommodate wheelchairs, corridors with support railings and intercom facility.
The townships or complexes provide medical facilities such as 24x7 availability of nursing staff, doctor on call, physio rooms and other emergency facilities. Tata Housing has tied up with Apollo Healthcare for Riva Residences, its integrated residential complex in Bengaluru.
Apollo operates a 24x7 health care centre equipped with telemedicine facility which enables a resident to consult any doctor in the Apollo network across India.
There may be a mess facility offering customised or home-cooked food daily, in addition to a concierge, housekeeping and laundry services. Indoor games, community hall, library, screening hall for movies, arrangement for visits to art galleries, malls and museum could be other attractions.
These flats are sold on owned, lease deposit or pure rental models, but the former is much more prevalent in India than the other two. While the buyers of these properties can be of any age, the people residing have to compulsorily be of the age of 55 and over.
The nominee or the heir of the buyer can inherit the house. However, s/he will not be able to live in it till they turn 55 or 60. Till that time, they can keep it shut or rent it to someone who is above 55.
If the heir wants to sell the property, the new resident should be a senior citizen. In a lease deposit model a percentage of the capital value is taken upfront and the rest is paid in the form of monthly rentals over the period of stay.
End-users can enter the project by paying 60-70 per cent of the market value of the unit upfront and the rest in the form of rentals over the period of stay.
http://www.rediff.com/business/repo...ement-home-five-years-in-advance/20150706.htm
