Tier-II cities evolve into senior living hubs
Continuing care retirement communities’ projects expected to come up in India in the next few years
As the population of senior citizens in India touches 118 million in 2016, an increasing number of developers are venturing into the senior living space. Many private entities have already made a foray into this sector. While some companies enter it as part of their corporate social responsibility, charitable organisations are also found in the sector. Realising the upside potential and to have first-mover advantage, a few prominent corporate houses have also forayed into senior living.
Developers are evolving as realisation dawns that they are not constructing old-age homes and that social infrastructure is important to have around their projects. That’s why select destinations in cities like Pune, Coimbatore, Goa, Chennai, Bangalore, Dehradun and some parts of north-India have become senior living hotspots. As these cities have social infrastructure, people who moved out from here in their youth, are coming back after retirement.
Projects have started coming up in the outskirts and suburbs of key metros as well. It is estimated that in around five years’ time, there would be many more projects outside prominent cities. Also, while most of the projects being launched in this space are holistically dedicated to senior citizens, many developers are also launching integrated townships, wherein a proportion of total units are dedicated to senior living along with generic residential developments.
Interestingly, progressive projects now allow all three levels of care in senior housing facilities – independent living, assisted living, skilled nursing care and optionally Alzheimer care facilities – within one campus. However, these facilities may be phased out over a period of time to allow for a continuum of care as residents will benefit from having all facilities in one campus-like environment. Such facilities get termed as continuing care retirement communities (CCRCs). CCRCs, catering to all the needs of senior citizens in the age bracket of 60 to 80 years, are yet to arrive in India.