The seniors at the Dignity Lifestyle Retirement Township enjoy an assisted,yet unrestricted, lifestyle

Every morning, 72-year-old Mani Bharucha likes to go for a walk with her friends. A single woman, she’s chosen to live 90km away from the hustle and bustle of busy Mumbai life at the Dignity Lifestyle (set up by Dignity Foundation) Retirement Township in Neral near the hill-station Matheran. After the walk she tends the plants in the small garden attached to her cottage. She particularly loves the monsoons in the hills when the landscape turns a verdant green. “The quality of life is much better and there are absolutely no restrictions on our lifestyle,” she gushes.

Bharucha is among the growing number of senior citizens who are opting to stay in senior-citizen townships coming up in different corners of the country. And no, these are not old age homes but integrated townships for people aged 55 years and above, where the key selling point is senior living.

The living conditions are specially tailored for older folks with ultra-spacious, wheel-chair friendly rooms with anti-skid flooring and touchscreen systems. In addition, there are multi-cuisine restaurants, libraries, club houses, golf courses, wellness centres and spas. Of course, there’s geriatric care at hand and trained staff for housekeeping.

So you can perk up with a brisk walk, or enjoy an Ayurvedic massage, sweat it out at the fitness centre or engage in community development projects.

Who are the target buyers? Anybody who is looking at retirement (young retirees 55 years onwards) or the already retired or those who need assisted living can choose to stay in these homes.

Nestled in the hills of Matheran, Dignity offers breathtaking views

Perhaps, it’s little wonder that the elderly parents of NRIs, retired bureaucrats, bankers and businessmen are increasingly finding their space in the protected environment of a retirement home.

“Senior-living homes have immense potential. Though it’s a western concept, and still in its infancy in India, developers need to take it to the next level complete with ultra-modern and hassle-free facilities,” says Saumyajit Roy, assistant vice president, Jones Lang LaSalle Meghraj,

According to a recent report by Jones Lang LaSalle Meghraj (JLLM), in India there are over 81 million elderly people. The figure will rise to 177 million by 2025 and by 2050 it will be about 240 million. Adds Roy: “After you retire from the frenetic pace of life, there’s no need to feel left out. Retirement townships are increasingly being favoured by elderly people whose children settle in different parts of the country or abroad and cannot visit them too often.”

Here’s looking at some of the places where the elderly can retire to.

RENAISSANCE,
West Bengal

Nestled in the hills of Matheran, Dignity offers breathtaking views

This is an integrated township in Bardhaman, developed by Bengal Shrachi Housing Development, spread across 254 acres out of which 30 acres are earmarked for the development of a retirement community. The real estate group has big plans for its development which will include a state-of-the art 100-bed hospital within half a kilometre of the township and a clubhouse inside the township where one can unwind.

On offer are two options — semi-assisted living (in this there’s no full-time attendant) and assisted living (targeted at elderly people suffering from ailments who need constant care).

There will be 250 small bungalows which will vary in size from 1,000sq ft to 1,500sq ft. These will be priced between Rs 15 lakh and Rs 25 lakh depending on the model chosen. Says Rahul Todi, managing director, Bengal Shrachi: “We are trying to run it like a resort where everything is taken care of from day-to-day administration to maintenance.” Features on offer include grab-rails in bathrooms and balconies, wheel-chair friendly space, no steps, bigger doors and hi-tech security systems.

Status: The project will be launched in a month’s time. It will take about 20 months to complete.

VIVARA RESIDENCES,
Goa

(From top) Shrachi Renaissance aims to be run like a resort with the administration taking care of daily assistance and maintenance; the senior citizens of Ashiyana Utsav love the daily activities like swimming and yoga, and the apartments come with security system, medical assistance, a restaurant, clubhouse and more

This is a retirement township at Arpora in Goa, developed by the Mumbai-based Acron group which will have 52 apartments with age-friendly features. The key features include a lounge area, a state-of-the art clubhouse, swimming pool, a wellness centre, library, conference hall and landscaped gardens. Says John Britto, director, Acron group: “Earlier senior living meant old-age homes run by charitable institutions but today retirement living signifies staying in self-sufficient communities and integrated townships away from urban centres. They can stay in safe environment with the nitty-gritty of their lives taken care of.”

The company has tied up with the Australian Retirement Village Association to ensure best standards. The first phase has rolled out in June this year and has 1 BHK (spread over 775sq ft), 2 BHK (1,300sq ft) and 3 BHK (2,000sq ft) apartments. The USPs are 24x7 emergency staff, hi-tech security systems, smoke detectors and alarms in the rooms.

Up next is another project in Coorg to be launched soon. Britto explains, “In the past, cities like Bangalore and Mysore were viewed as good locations for senior living but these have become highly overpopulated and increasingly unsafe for older people, especially those living alone. Increasingly people prefer scenic locations where they can stay with likeminded people in a vibrant community.”

Vivara operates on a lease model (you take the house on lease for a certain period) and not freehold. “With a lease, seniors have all the advantages of possessing and enjoying the benefits of real estate without them or their legal heirs bothering about dealing with brokers,” he says.

You can choose from a range of affordable combinations on the lease deposit and monthly rent. For a typical one-bedroom 775-sq-ft apartment, you could, for example, pay a lease deposit ranging from Rs 10 lakh to Rs 25 lakh. Suppose, you paid a deposit of Rs 10 lakh, then the monthly rent would be Rs 24,000. If you paid a deposit of Rs 20 lakh, the monthly rent would be Rs 12,000 and on a deposit of Rs 25 lakh, the rent would be Rs 6,500. The monthly rent will increase by 5 per cent every year.

Monthly expenses on utilities like electricity, gas and water are extra. Community expenses like security, maintenance, repairs, and property taxes are included in the price of the home. The deposit is returned when you vacate the property.

Again, there are two options. One, you can choose to take only the deposit back when you leave the property. Two, you can choose the capital appreciation option under which you will not only get your original lease deposit back but also a percentage of the capital appreciation in the lease value of the property. Vivara’s management will publish the expected lease value of the property twice a year.

When you vacate your property, it will lease it out to another senior citizen who will pay the lease deposit at the rate that is prevailing then. The difference between your lease deposit rate and the new deposit rate is the capital appreciation in the property’s lease value.

According to an illustrative table worked out by Vivara, if you pay a deposit of Rs 30.4 lakh (and a monthly rent of Rs 9,000) for a 1BHK apartment today, you will get an 80 per cent share of the capital appreciation whenever you leave the house. If you pay a deposit of Rs 26.6 lakh (and rent of Rs 13,000), you will get 70 per cent of the capital appreciation and so on and so forth.

Status: The first phase of the Goa project will be completed in September this year.

DIGNITY LIFESTYLE RETIREMENT TOWNSHIP
Maharashtra

The laid-back Goan lifestyle is what the seniors in Vivara Residences in Goa will get a chance to indulge in

Nestling in the hills of the Western Ghats, the Dignity Lifestyle Retirement Township in Neral is the brainchild of the Mumbai-based chairperson of the Dignity Foundation Dr Sheilu Srinivasan. There are 62 small cottages with gardens spread across 25 acres. There are two types of fully furnished cottages — premium (500sq ft) and the economy (180sq ft) — which come with anti-skid floorings, grab bars in bathrooms, puja corner and trained staff to attend to the residents.

Says Dipti Nigudkar, hospitality manager: “The homes are designed keeping in mind the comfort of the seniors. They get to interact with like-minded people and participate in festivals and even can take up jobs in primary schools nearby to keep busy.”

You can buy the cottages outright. The premium cottages cost Rs 13 lakh while the economy ones cost Rs 9 lakh. Plus there are monthly charges for utilities.

Status: Operational since 2006. Currently work for second phase has started to add more cottages and to build a 100-bed medical unit in the township.

UTSAV,
Rajasthan

From a game of chess to riding a golf buggy — trivial pursuits give seniors a much needed sense of companionship

A 30-minute drive down from Gurgaon will take you to Bhiwadi where Ashiana Housing has come up with Ashiana Utsav, a Rs 65-crore retirement home project for old people on a 15-acre plot. The 442 senior citizens who live here can look forward to various activities — entertainment programmes, spiritual discourses, medical camps and yoga.

The key features include one-, two- and three-bedroom flats complete with security systems, a clubhouse, jogging track, landscaped garden, restaurant, medical assistance and a library. In the project’s second and third phase, there are plans of building more than 200 housing units.

Apart from Bhiwadi, Ashiana Housing has retirement homes in Lavasa (31 acres) and Jaipur (10 acres). While Lavasa will have 475 units (1, 2 BHK and 3 BHK villas), Jaipur will have 350 (1, 2 and 3 BHK) apartments. You can buy the homes outright. While in Jaipur, prices start at Rs 11.8 lakh, in Bhiwadi, the flats are priced from Rs 17.4 lakh onwards. In Lavasa, expect to shell out between Rs 27 lakh to Rs 82 lakh.

Status: While Ashiana Bhiwadi is operational, the Lavasa project will be completed in October 2011 and work on the first phase of the Jaipur project is on.

MELUR MEADOWS,
Chennai

This centre attempts to offer a blend of modern retirement living and a comfortable semi-rural lifestyle. It’s 35km from Coimbatore (spread over 9 acres) in the foothills of the Nilgiris. It is being developed by Chennai-based Alternative Lifestyle.

There are ownership cottages with freehold and transferable titles, which is similar to owning an apartment in the city. “It is a gated community constructed specifically for senior citizens who want the relaxed ambience of a rural setting with all the comforts of modern cities. Residents can feel free to live with family and have visitors just as you would in an apartment. Guest-house accommodation facilities also will be available for visitors,” says Major P. Sathyanarayanan, owner of Melur Meadows.

In the first phase of the project, there are 32 cottages and 24 more cottages are being added in the second phase. These come fully furnished with a kitchenette and a private sit-out area. Prices at Rs 8.5 lakh (381sq ft) and go up to Rs 25 lakh (1,200sq ft).

Status: The first phase of 32 cottages is functional. Booking for the second phase has started this year.

RAKINDO,
Coimbatore

Set on 850 acres of lush landscape out of which 50 acres is earmarked for retirement homes, this project is being developed by Rakindo Developers in the Kovai Hills, Coimbatore, with an investment of Rs 150 crore. The township will have an 18-hole golf course, state-of-the art clubhouse, 300-bed hospital, and multi-cuisine restaurant.

Says Prashant Koneru, director, Rakindo Developers: “The idea is not to segregate old people but to offer world class facilities so that they can enjoy the luxuries of life without feeling secluded.”

The senior citizens community will have at least 400 villas. These will have features including blue-tooth enabled security systems and pre-set ovens in the kitchens, touchscreen telephone system, care for those suffering from dementia and aqua-therapies.

There will also be three schools and four engineering colleges within the township. Up next are three other projects — Kumarakom Wetlands, a high-end backwater 18-hole golf-cum-retirement resort, Chennai Marina on the Palar River estuary and a dedicated senior living township in Hyderabad with a nine-hole golf course.

Status: While the Kovai Hills retirement community will be launched in December this year, the Kumarakom project will be launched in December 2011. The Chennai Marina project will be launched three years from now and the Hyderabad retirement township five years from now.