Senior Living Boom: Chennai, Coimbatore, Bengaluru  

Senior living in South India: Bengaluru, Chennai, and Coimbatore are all becoming increasingly popular places for seniors to live. Several factors have led to this. 

These cities are popular among seniors who want to retire in peace as they have favorable conditions which include great culture, climate, and infrastructure. 

The increasing number of senior living communities in these cities is a testament to this growing trend. 

Senior Living: South India Takes the Lead 

According to JLL and the Association of Senior Living India,  Chennai, Coimbatore, and Bengaluru have almost 60% of the market share of the 20,000 housing units that are currently available in this group. 

The north Indian cities hold a 20% share, 16% in the West, and only about 4% in the East. 

India’s Aging Population Drives Growth in Senior Living Sector:

Changing, with predictions that by 2050, the number of seniors will have more than doubled, reaching 346 million, or almost 21% of the total population of the country.  

India’s senior population, which is made up of people aged 60 and up, is expected to more than double, rising from 156.7 million in 2024 to 346 million by 2050.  

The report said that by 2030, the senior living housing market would have reached ₹64,500 crore.  

India’s Senior Living Market: A Lucrative Investment Opportunity

 As more people learn about and accept senior living options, this sector, which has a 1.3% market penetration right now, offers a once-in-a-lifetime chance for developers and investors to create high-quality options, according to the JLL report.

The segment is also expected to grow at a rate of about 27% per year. 

According to market sources, this is a chance for India to build a strong, caring senior care ecosystem that not only meets the changing needs of its elderly population but also supports long-term, sustainable industry growth. 

Nearly half of senior living real estate in India is in South Indian cities: 

With more than 20,000 residential units dispersed over India’s southern parts, making up 60% of the market share, India’s senior living sector is now rather large. 

With roughly 45% of the senior living stock in India, Chennai, Coimbatore, and Bengaluru grab this 60% portion.  

Delhi-NCR in the North contributes about 14% of stock across the nation. 

Pune and Ahmedabad account for almost 13% of the total stock in the western area and represent about 16% of senior living stock.  

In Kolkata, the eastern region has about 4% stock and the same proportion of senior homes. 

Why are South Indian cities leading in senior housing projects? 

Due to persistently lower rates of birth and mortality, the southern states are experiencing a rapid increase in the proportion of elderly people in their populations.  

Secondly, these areas are home to a greater number of individuals who are parents of Non-Resident Indians (NRIs), which means that their children are not native to the country. 

Adopted Senior Living Idea the earliest: Localities in South India such as Coimbatore and Bengaluru were among the first to adopt the concept of senior living, which resulted in the creation of a more developed market. 

Welcoming the idea of Senior Living:  Generally speaking, South Indian families are more receptive to the idea of senior living communities, and they consider them to be a feasible choice for the care of elderly individuals. 

More NRIs: South Indian non-resident Indians (NRIs) make significant investments in senior housing complexes to provide for their parents or their retirement. 

The Climate and Weather Conditions: Many cities in South India are believed to have a climate that is ideal for retirees due to its typically warmer conditions. 

Healthcare Facilities: Significantly improved healthcare facilities can be found in a number of South Indian cities and towns, which is an essential component for senior living initiatives. 

On the other hand, these tendencies are progressively shifting, and Indian cities are seeing an increase in the number of senior living projects being created.  

Developers in the North are attempting to address these hurdles, and it is anticipated that the market will develop as awareness and cultural attitudes continue to change.

The Sales Model does have an Uneven share: 

As a result of the preponderance of independent living facilities, the market structure is highly biased toward the sale model. More than eighty percent of units are sold outright, followed by lease/rental and hybrid models. 

From a size perspective, the most common range of units is between 500 and 1,000 square feet, with the segment ranging from 1,000 to 1,500 square feet following closely after. 

Are there luxury units in every single senior living housing project? 

The specialized amenities, increased safety, and medical facilities that are included in senior living projects cause them to attract a higher price than regular housing in the same geographic location.  

The maintenance expenditures, which include medical services, meals, and additional staff, are included in this premium. 

Price ranges normally from ₹50 to ₹70 lakh for a one-bedroom apartment to ₹70 lakh to ₹1 crore for a two-bedroom apartment, with luxury buildings priced at ₹1-2 crore and much higher for larger units. 

Currently, 81 percent of the units that have been launched are valued between fifty lakhs and one crore. 

Senior housing units are expensive for various reasons: 

Most of the time, senior living is centered on giving a range of services specifically designed for older people.  

Most of the time, these services include help with healthcare, meals, housekeeping, and events. All of these things are covered by the membership fee. 

Not only does the price typically cover housing, but it also typically includes a comprehensive package of care and lifestyle services. 

The increasing operating expenditures are a result of multiple factors, including specialized staff and larger worker-to-resident ratios. 

These apartments are designed with accessibility and safety measures that are tailored to the requirements of older persons, which results in an increase in the expenses of construction and maintenance. 

The high cost of real estate is a direct result of the fact that many senior living communities are located in places that are easily accessible to amenities and healthcare facilities. 

The major market for these apartments typically consists of senior citizens who have considerable retirement savings or assets and are able to afford higher costs. 

Reduce the GST burden on the elderly to make Senior living more affordable: 

Government subsidies and incentives for developers are required to increase the affordability of senior living options. 

Reducing the GST burden on seniors by relaxing or reducing GST on services and services provided by senior living communities will also help.

Senior healthcare insurance plans should be designed specifically for residents of senior living facilities, covering long-term care and home care services. Furthermore, stamp duty should be decreased for the purchase of such apartments, according to market sources.

Why are integrated townships now including senior housing projects? 

These days, integrated townships include senior living projects instead of separate senior homes.  

The change is mostly due to integrated townships letting elders live close to their relatives while enjoying their freedom.  

This arrangement encourages intergenerational contact, thereby lessening senior isolation. 

Shared infrastructure and amenities in townships minimize overall development and operations expenses. Economies of scale increase the financial viability of developers. 

It also facilitates transitions as residents age, potentially shifting from traditional housing to senior-specific quarters within the same community. 

Integrated approaches result in more balanced and sustainable communities with different demographics.

Furthermore, mixed-use developments appeal to a wider range of purchasers, potentially increasing overall sales, said Das. 

This transition represents a more holistic approach to urban design and senior care, addressing both the practical requirements of seniors and the changing social attitudes toward aging and community life.  

To Summarize:

As India’s population ages, the demand for senior living communities continues to grow. South India, with its favorable climate, cultural richness, and advanced healthcare infrastructure, has emerged as a leading destination for senior living. By offering a range of amenities, services, and a supportive environment, these communities are redefining retirement living. 

However, challenges such as affordability and government support remain. It is crucial to address these issues to ensure the sustainable growth of the senior living sector in India. By prioritizing the needs of the elderly population and fostering a supportive ecosystem, India can create a future where seniors can age gracefully and with dignity. 

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