According to a study by India’s top business organization, the Confederation of Indian Industry, India would have over 300 million senior or retired citizens by 2050.
Today’s society perspective has altered, and those who choose to relocate to a retirement home rather than stay alone in their own house and worry about its care are more accepted.
The sector’s development potential is clear, with the majority of recently or soon-to-retire older individuals choosing to live in retirement homes.
These luxurious residences are designed to meet the mental, social, physical, and emotional requirements of older residents. Delhi-NCR, Chennai, Mumbai, Dehradun, Bengaluru, and Coimbatore are all nearby.
Why Are More Retirees Choosing to Live in Retirement Communities?
India has seen a rise of children leaving home and their elderly parents behind in quest of dream occupations in places far away or overseas during the previous several decades.
Leaving their parents alone and, in many situations, vulnerable and insecure may lead to depression, which can have a negative impact on mental health and even result in a quick loss of mobility in these elderly people.
Luxury retirement homes provide the precious sensation of peace of mind to children and relatives living in fear and far away, knowing that their parents and loved ones are in beautiful, safe, quiet, pleasant, and loving environments that are well worth the expense.
It’s crucial to note that this new generation of retirees is more likely than previous generations to be well-traveled, well-read, worldly-wise, physically, and financially independent.
After working nonstop their entire lives, individuals may now pick when they want to slow down or quit working completely, as well as how and where they want to spend the rest of life.
As a result, a rising number of seniors are taking control of their lives by relocating to retirement communities. These residences provide a wide range of on-site services, including upscale lodging, health & wellness, leisure, and hospitality.
Lack of Development of Retirement Communities in India
Despite this rapidly growing trend, very few alternatives are available for high-quality and luxurious retirement senior citizen homes. The following are some of the key causes behind this:
- Slow approvals and permissions needed for senior living projects
- There aren’t enough builders willing to put money into the high-quality infrastructure needed to meet the demands of older residents.
- The cultural shame of abandoning the elderly by placing them in a retirement facility is the most significant factor.
- However, it is critical to recognize that in modern India, this worldview is rapidly changing.
- Affordable access to the suitable property within city borders yet far enough away from the city’s noise and bustle.
Many of the retirement homes being built around the country provide world-class living facilities in calm and picturesque settings. Senior folks may finally reflect on their lives, reconnect with themselves, and live a happy, active, and dignified lifestyle for the rest of their lives away from the rat race.