Chennai among hot destinations for senior citizen living
TIMES NEWS NETWORK
Chennai:16.11.2018
Satellite towns of 11 Indian cities like Chennai, Bengaluru, Pune, Delhi and Kochi are hot destinations for senior citizen living, according to a study by realty consultant Anarock. Going by the census projections, the share of elders as a percentage of total population in the country would increase from 8.57% in 2011 to almost 12.5% by 2026 and surpass19.5% by 2050.
In absolute numbers, those above 60 years were 10.38 crore people in 2011. As India’s elderly population is expected to grow to 17.3 crore by 2026, there lies huge untapped potential for senior citizen living, with very minimal current supply in the senior living segment.
There are currently around 4,500 senior living units available in the market, and more than 2,000 units are in different stages of construction. Approximately 10 new projects are slated to come up over the next few years, said Anarock Property Consultants chairman Anuj Puri.
Senior living is quite distinct from old age homes and assisted living. Senior living is essentially homes that cater to healthy and active elderly people, who prefer to live independently in a peer environment. Such projects usually provide a variety of facilities for recreation and socializing.
Assisted living, on the other hand, pertains to homes for adults who need some or considerable assistance to live their daily lives.
The more traditional oldage homes are establishments usually run by NGOsor government agencies and are populated by senior citizens who can, for any number of reasons, no longer cohabit with their families or are entirely homeless.
Geographically, senior living projectswereearlier largely concentrated in the southern states of Kerala, Tamil Nadu and Andhra Pradesh. This geographic distribution was, paradoxically, largely because of outward migration of the younger population, said Puri.
“Countless educated professionals from these states gravitated to the West for better job opportunities and preferred to settle there if possible. Their parents were left behind, which gave rise to the concept of retirement homes in these states. The concept then spread to other states and cities as well,” said Puri.
Kerala has a high number of ageing citizens. As per the ministry of statistics, the percentage of elderly population in Kerala is nearly 12.6% of the state’s total population, the highest in the country. This caused Kerala to become home to a high density of senior living projects, said Puri.
For full report, www.toi.in
TIMES NEWS NETWORK
Chennai:16.11.2018
Satellite towns of 11 Indian cities like Chennai, Bengaluru, Pune, Delhi and Kochi are hot destinations for senior citizen living, according to a study by realty consultant Anarock. Going by the census projections, the share of elders as a percentage of total population in the country would increase from 8.57% in 2011 to almost 12.5% by 2026 and surpass19.5% by 2050.
In absolute numbers, those above 60 years were 10.38 crore people in 2011. As India’s elderly population is expected to grow to 17.3 crore by 2026, there lies huge untapped potential for senior citizen living, with very minimal current supply in the senior living segment.
There are currently around 4,500 senior living units available in the market, and more than 2,000 units are in different stages of construction. Approximately 10 new projects are slated to come up over the next few years, said Anarock Property Consultants chairman Anuj Puri.
Senior living is quite distinct from old age homes and assisted living. Senior living is essentially homes that cater to healthy and active elderly people, who prefer to live independently in a peer environment. Such projects usually provide a variety of facilities for recreation and socializing.
Assisted living, on the other hand, pertains to homes for adults who need some or considerable assistance to live their daily lives.
The more traditional oldage homes are establishments usually run by NGOsor government agencies and are populated by senior citizens who can, for any number of reasons, no longer cohabit with their families or are entirely homeless.
Geographically, senior living projectswereearlier largely concentrated in the southern states of Kerala, Tamil Nadu and Andhra Pradesh. This geographic distribution was, paradoxically, largely because of outward migration of the younger population, said Puri.
“Countless educated professionals from these states gravitated to the West for better job opportunities and preferred to settle there if possible. Their parents were left behind, which gave rise to the concept of retirement homes in these states. The concept then spread to other states and cities as well,” said Puri.
Kerala has a high number of ageing citizens. As per the ministry of statistics, the percentage of elderly population in Kerala is nearly 12.6% of the state’s total population, the highest in the country. This caused Kerala to become home to a high density of senior living projects, said Puri.
For full report, www.toi.in
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