Senior Housing in India: Outlook for 2024

In India, the moral obligation of assuming the responsibility of ageing parents is ingrained in an individual since birth. However, changing socio-economic patterns, such as young people moving away in search of livelihood and women participating in the workforce has altered the societal norms related to elderly care.

Although it came with social stigma, the traditional old age homes run by charitable organizations were considered as the last resort. However, rising life expectancy and financial freedom has changed the infrastructural needs as well as the concept of senior housing in India, significantly.

While most of the Indian population, aged 60 or above, may be financially independent today. The growing sense of loneliness, age-related health issues and the necessity to uphold their self-esteem has accentuated the demand for homes that offer a comfortable lifestyle.

Senior citizens now prefer living in a community where there is an excellent social ecosystem and they are in proximity to essential services. Based on the support required, senior housings are now available in a unique mix of healthcare, residential, vacation or hospitality homes. Apart from healthcare facilities, these projects are equipped with housekeeping, security and support services.

Hence, at this juncture, where senior citizens are poised to constitute 23.6% of the Indian population by 2050, there is a need to focus on the development of senior housing – the Sunrise Sector of the Indian real estate industry. 

Major Growth Drivers for Senior Housing

The elerdely population is growing continuously across the globe and is expected to reach 2.1 billion by 2050. In India too, the senior population has breached the 100 million mark. Besides, improving health care facilities and the implementation of various policies has increased the overall life expectancy of elderly people to 68.8 years in 2018 from 62.5 years in 2000. 

Typically, seniors in India are taken care of by their family members. Now with the prevalence of nuclear families and younger generations moving to other cities or countries in search of livelihoods, a large segment of senior citizens end up staying alone. Along with age-related physical and mental ailments, they are also exposed to day-to-day living hassles and the risk of urban crime. Hence, in such scenarios, senior housing projects become a viable option. 

While senior housing attracts a variety of customer segments, the need for excellent healthcare facilities, secure surroundings and social support systems are common amongst all. Based on the requirements, here are the different types of customers driving the growth of the sector-

• Citizens going back to their native states or non resident Indians coming back.
• Elderly inhabitants who are in constant need of advanced healthcare facilities. 
• Senior citizens who want to stay for short term, say 3-6 months in rented accomodations.
• Aged couples who are financially stable and want to live a comfortable lifestyle. 

As per a report published by the PHD Chamber of Commerce, the concept of senior housing evolved in the early 2000s. However, the sector started gaining momentum only after 2010. Now with rising disposable incomes, improved life expectancy, and consistently growing elderly population, a lot of builders have forayed into the senior housing segment. Plus, since India contributes less than 1% of the global senior housing industry, the growth prospects are tremendous. 

Different Types of Senior Housing Models

There are multiple age-related complexities, and each requires separate care and attention. While some senior citizens are mentally fit but they face physical disability, others suffer frequent ailments and have reduced mobility. Hence, recognizing and addressing these issues in order to provide a comfortable and compatible environment is the basis on which senior housing is divided. 

1. Independent Facilities

Typically, senior citizens who suffer minor ailments but are capable of taking due care of themselves live in such homes. Independent senior housing is similar to residential apartments. However, from an architectural standpoint, these houses are well-equipped with amenities that cater to the needs of senior citizens. For example, to facilitate easy movement of elderly, houses have elevators, facilities in washrooms and bedrooms to accommodate wheelchairs, and the entire house is floored with anti-skid tiles. 

2. Assisted Living Facility

Reduced mobility, constant medication and numerous ailments calls for residential facilities that house health care workers and emergency medical systems. Such communities are suitable for aged adults who are widowed or require care for a longer period of the day in comparison to those living in independent complexes.  

3. Skilled/Trained Nursing Facility

For those senior citizens who suffer from serious physical and mental ailments and need constant care, trained nursing facilities are the most viable options. As an investor or a builder, it is important to note that the services required at nursing facilities are more in comparison to assisted or independent senior housing models. From occupational and speech therapists to emergency medical systems, greater care is required in a timely and appropriate manner. 

4. Continuing Care Retirement Communities (CCRCs)

Senior housing facilities where assisted, independent as well as nursing care facilities co-exist together are known as CCRCs. These communities enable aged citizens to reside in the same general area even if their housing needs change over time. 

Important Elements of a Suitable Senior Housing Facility

While location is one aspect, availability of healthcare and emergency facilities, transportation systems, and thriving social ecosystem are other elements that sets an average project apart from a well-thought out senior housing project. 

In the sunset years of their lives, the aged population faces multifarious health related issues. Hence, while developing homes that cater to this segment, it is important for real estate developers to take into consideration the following necessities of senior citizens: 

Factors	Details
Location	1. Close proximity to healthcare systems. 2. Lower land rates can be highly attractive. 3. Low on negative attributes such as crime rate and traffic congestion.
Social Infrastructure	1. Temples, entertainment & recreational facilities in the vicinity. 2. Availability of public parks and wellness activities.
Connectivity	1. Well-built arterial network of roads and highways. 2. Proximity to existing and proposed infrastructures. 3. Availability of various types of transportation systems.
In-house Amenities	1. Gas leakage detection systems 2. Audiovisual signages and signaling systems 3. Large washrooms 4. Better lighting
Others	1. An area that has growth potential. 2. Will lead to price appreciation in the future. 3. Access to employment or educational hubs (many senior citizens work part-time or as consultants).

Challenges Associated with the Development of Senior Housing Projects

Although the demand for senior housing services in India is increasing rapidly, this sector is still at a nascent stage. Primarily due to the following reasons: 

1. Breaking Social Stigma

As far as the cultural context is concerned, living in senior housing projects is still considered a taboo in India. This acts as a major stumbling block in the development of complexes suited for elderly population. Entry of well-renowned private developers, who lay strong emphasis on service delivery rather than aesthetic appeal of the project can perhaps alter the perception associated with senior living communities. 

2. Land Parcels

Scarcity of large land parcels is a major issue associated with senior housing projects. Besides, the cost of land is on a higher side in metropolitan cities. To accommodate healthcare facilities along with social infrastructure like temples, wellness centres and gardens within a large complex thus becomes difficult. 

3. Mandatory Healthcare Facilities

As per the norms stipulated in the “National Building Code (NBC), Model Building Bye Laws,” there is a mandatory requirement of the project to be in close proximity to full-service hospitals. These secondary or tertiary facilities should lie within a radius of 10 km. However, finding a location with all basic amenities, lower land costs and healthcare amenities is a cause for concern. 

4. Medical Workforce

As per data provided by the World Bank, Indian public healthcare system operates at a ratio of 0.08 doctors for 1000 people. In the absence of health care staff, finding doctors, nurses and paramedics trained in geriatric sciences can be problematic. Therefore, there is a need to set up institutions that produce skilled medical forces that cater to the senior sector. 

Indian Senior Housing Overview

According to a survey conducted by PHD Chamber, 53% of the senior housing projects are located in southern cities, 25% in western regions and 22% in northern states. While Bengaluru, Chennai, Puducherry and Hyderabad are most preferred southern cities for post-retirement settlement; NCR, Chandigarh and Dehradun have emerged as popular areas to settle in north India. As far as west-India is concerned, Mumbai, Pune, Ahmedabad, Panaji and Surat are some of the most opted retirement destinations. 

Well-developed infrastructure, adaptability to climatic conditions, excellent connectivity, and prevalence of nuclear families are the major reasons why the above mentioned cities have emerged as popular post-retirement destinations. These factors have pushed a number of developers, like those mentioned below, to deliver senior housing projects across west, south and North India. 

Developers	Project Name	Location
Paranjape Athashri	Athashri Pebbles	Bavdhan, Pune
Ashiana Housing	Ashiana Nirmay	Bhiwadi-NCR
TATA Housing	Riva	Bengaluru
UCC Care	The Golden State	Faridabad, Haryana
CovaiCare	Covai Chinmayam	Coimbatore
Antara Senior Living	Antara Noida Antara Dehradun	Noida, Dehradun
Nyati Group and Columbia Pacific	Upcoming 3.64 lakh sq.ft. project	Nyati County, Pune

Note: This is not an exhaustive list. The builders also have other senior housing projects on offer. 

When it comes to the types of units, senior citizens give preference to well-maintained facilities rather than lavish shelters. Due to this, there is a huge demand for 2 BHK apartments followed by 1 BHK and then 3 BHK residences. While the average price for 2 BHK ranges anywhere between Rs. 40-80 lakhs, the price for 1 BHK is between Rs. 25-40 lakhs. 

The senior housing sector is at nascent stages and only a few players have entered the segment. However, with the increasing disposable incomes and senior population, the demand for senior living will rise. If we consider the statistics produced by the PHD chamber, the market value of this sector is expected to reach US$ 7.7 billion by 2030. The growing demand for housings for aged citizens will further push investments and generate massive employment opportunities in other sectors of the economy, such as healthcare, construction, and hospitality. 

Innovations in Senior Housing

Builders and healthcare professionals are coming up with clever new ideas to make life better for our elderly population in India. These fresh approaches not only aim to improve the quality of life for seniors but also tackle the unique challenges that arise due to aging and provide proper medical care.

One smart solution is using more technology in old-age homes to make things easier, safer, and more convenient for the residents living there. Modern gadgets like motion sensors, camera systems to monitor remotely, and voice-activated digital assistants allow the elderly to control their surroundings with ease and call for assistance when needed. Those technological advancements can also aid caregivers and loved ones in keeping an eye on the health and well-being of their aging relatives from far away, giving them tranquility and permitting prompt intervention if necessary.

Also, the way senior living centers get medical services is changing with new medical technology. Telemedicine allows residents to talk to doctors via video call instead of traveling to see them. This conserves time and enables them to seek medical guidance swiftly. Fitness bands and mobile health apps allow the elderly to closely monitor their vital body signs. They can manage chronic age-related ailments and spot any worrisome symptoms early.

Also, the new idea of creating intergenerational housing communities that bring people of all ages together is catching on. Senior residences, along with regular housing for families with children and young adults, are integrated into these homes. Fostering meaningful social bonds and mutual support between generations is magic. The elderly have plenty of chances to get involved, teach, and bond with the younger ones through companionship in such communities, which usually have places like daycare centers.

Furthermore Incorporating eco-friendly and eco-friendly design principles into modern old-age home construction minimizes the impact on the environment. Solar panels for renewable power, rainwater harvesting systems, and designing landscapes with lush greenery are some of the things this encompasses. Green initiatives are sustainable because they contribute to conserving natural resources and affect the overall wellness and enjoyment of residents.