Retirement housing is catching up in India. Most of the senior living projects are positioned in the affordable segment, bearing in mind the fact that the end consumers are senior citizens with limited resources and no sources of regular source of income.
It is believed by 2025, there will be 173 million seniors worldwide compared to the 76 million now. The current estimated demand for senior housing in India is approximately 300,000 units.
Retirement living solutions usually fall under three broad categories — independent living (for senior citizens who are reasonably healthy and can manage on their own), assisted living (for those who require physical or medical help) and palliative care (for those with debilitating illnesses).
A few precautions and checks before you decide on your retirement living option will facilitate a smooth run in the future. Don’t look at your retirement home purely from an investment perspective. You are choosing a different lifestyle, so be prepared to pay some premium for the various senior-friendly features in the community and in your house.
Retirement homes, a popular concept in the West, is beginning to find a market in India. Changing social dimensions , fading joint families and financial independence are some factors that are contributing to the trend. It offers independence, community and security.
The decline in the rupee might not be a good sign for the Indian economy but enquiries from NRIs for buying property in India have risen. Online real estate portals have seen increase in traffic in last few months.
Business Standard, reports “Weak rupee draws NRIs to Indian realty-The enquiries from NRIs for buying property in India have risen by 15-20% .” Real estate experts and online portals like Realistic Realtors, Strategy & Alliances Investors Clinic, Commonfloor.com, IndiaHomes, Jones Lang LaSalle India confirms the increase in enquiries from NRIs for buying property in India.
Sumit Jain, CEO, Commonfloor.com, said the NRI traffic was coming primarily from the US and Australia. And the demand is more for high end properties.
Delhi-NCR and Mumbai are still the most preferred destinations for NRIs to buy property, a property broker said.
The three day mega expo is a bench mark event that brings together the best projects, home style products, builders, developers, vendors, interior designers, banks, financial institutions, investors and home buyers under one roof.
“Mega Property & Home Style Expo” is set to take place on 21st, 22nd & 23rd June 2013 at HITEX, Hyderabad. Hyderabad International Trade Exposition Centre(HITEX) Exhibition Centre is a world class Exhibition facility in Hyderabad located in Izzat Nagar, Madhapur a suburb close to the IT hub of Hyderabad.
Commonfloor.com India’s leading online real estate portal is Online sponsor for the “Mega Property & Home Style Expo”.
Survey suggests majority of Indians prefer to be self-dependent in post-retirement years. With life expectancy rates moving up (thanks to improvement in healthcare facilities and overall improvement in lifestyle), the post-retirement phase is getting increasingly longer. And, therefore, retirement planning is also becoming increasingly important by the day. At present, India may be one of the youngest countries in the world, but by 2050, India will have a large graying population.
Traditionally, we Indians do not plan for retirement. It is the other goals like owning our own house, providing a good education to our children and arranging for a lavish marriage,especially a daughter’s marriage that take precedence.
The retired life these days is not about a reclining chair, books and watching sunrises and sunsets. Investment is key to financial independence. One of the best things you can invest on for your retirement is investing on things which will limit your expenses once you retire.
You can’t get somewhere if you don’t know where you’re going. Make your goals realistic and understand the steps you need to take to get there.
If one does not plan for these late priorities and liabilities well in advance, one cannot be free of financial tensions, even after one is off his or her regular 10-to-5 job.And who doesn’t want to live an independent life even after he retires?