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Senior Living Sector in India

An idea whose time has arrived!

 On Point Senior Living Sector in India

On Point Senior Living Sector in India 

98
million
Elderly people in India today
Total population of UK & Canada put together

240
million
by 2050

3.8%
per annum
Growth rate (compared to
1.8% overall)

12.6

Estimated that the population


above 60 years (60+) of age in
India will touch 240 million
by 2050

Old Age Dependency Ratio


up from 10.6 in 1991 (6075% are dependent)

60+

27
million

Fastest growing
demographic segment in
the world

Estimated seniors need


specialized medical care

CHALLENGE OR OPPORTUNITY?

 On Point Senior Living Sector in India

The senior living sector in India is at a crossroad. With the recent relaxation of Foreign Direct Investment (FDI) restrictions on investments
in the sector and a population of seniors (nearly 100 million seniors in India now) to cater to in the coming decades, there clearly exists an
untapped opportunity for investment and development in this sector. Unlike western countries where the senior living industry has gained
maturity, India provides an opportunity to developers, service providers, healthcare players and operators to create solutions specific to
India while leveraging learning from across the world.
In this white paper, we showcase seniors in India as a demographic segment, bring out key trends in senior housing in India, assess overall
market potential, focus on best practices, and bring out for the first time a pan-India preview of senior living projects in India. Jones Lang
LaSalle intends to keep this white paper at an introductory level and will bring out subsequent editions providing more in-depth analysis of
specific aspects of senior living.

Senior Housing Segment in a Global


Context

Increasing life expectancy, decreasing fertility rate, lower mortality


rates and an overall enhancement of the standard of living across
the world has contributed to people living longer than ever before.
In 2008 as per the National Institute of Aging (USA), it was
estimated that the senior population (above 60 years of age) in the
world was 506 million. The population of seniors across the world is
projected to become 1.3 billion by 2040. This increase in population
in the segment will bring with it unique sociodemographic
situations which have not been experienced by society at large. For
the first time in human history in 2021, the total number of seniors
will be greater than the number of kids below 5 years of age. While
developed nations will still have a large number of seniors, the rate
of growth in senior population in developing nations will be double
that of developed nations. The 80+ age segment is actually the
fastest growing segment amongst population cohorts in several
nations. China and India are projected to have almost 50% of the
1.3 billion worldwide seniors by 2040.

amongst urban households, who in the last 20 years have


witnessed a marked increase in nuclear families1, that families are
no longer equipped to take care of their aged family members. In
this changing social environment, concepts such contemporary
retirement resorts are becoming acceptable and popular. While this
has prompted developers to come up with projects targeting the
independent seniors, the country is yet to see integrated continuing
care retirement communities.

Seniors need specialized housing catering to their needs. What


started in early 19th century in the USA to cater to housing for
seniors mainly through the interventions of religious groups and
charitable bodies is now recognized in the USA as a prominent
asset class. Senior housing is a USD 25 billion industry worldwide.
In USA alone there are over 2,000 senior housing projects with over
500,000 residents. While the sector commands large numbers, it is
also important to get a sense that only about 12% of seniors in the
USA live in formal senior living projects and less than 4% stay in
Australia.
In contrast to senior living in the west, the concept of housing
for seniors as a specific asset class in India continues to have
social stigma associated with it which has restricted the growth of
the sector at large. There is, however, now a growing realization
1

As per the findings by National Family Health Survey in 2005-06 (NFHS-3), every three out of five households (about 63%) in India are nuclear.

On Point Senior Living Sector in India 

Although India is still younger than USA and Japan from a


demographic standpoint, the process of ageing has begun in the
country. It is anticipated that the elders in India would increase both
in absolute numbers and relative strength, indicating a gradual
swing to a senior population. As per Census of India projections,
the percentage of elders as a percentage of total population in
the country would jump from 7.4% in 2001 to 12.4% in 2026 and
touch 19.7% in 2050 (Figure 1). In 2011, India had about 76 million
seniors above the age of 60 years and it is expected that this figure
will grow to 173 million by 2025, further increasing to about 240
million by 2050. This marked increase in elderly population would
involve a change in an important sociological aspect, the old age
dependency ratio. Interestingly, by 2050, it is estimated that the
number of dependent adults in India will be at par with the number
of dependent children. The population pyramid shows that the
movement of the bulge in the population northwards to higher age
cohorts with time (Figure 3).
Besides growth in sheer numbers, seniors are also evolving as a
customer segment and have needs and wants, which are different
from seniors in earlier times. A significant section of seniors
today are independent, financially stable, well-travelled, socially
connected, and as a result have well developed thoughts of how
they want to spend time after retirement. There is, today, a larger
percentage of educated seniors than ever before in India (Figure 2).

Figure 1: Projected Growth in Number of Seniors in India


1600
100

76m
7.4%

8m
7.5%

98m
8.2%

118m
9.3%

1m
10.7%

173m
1.%

001

006

011

016

01

06

100
Million

The Emerging Need for Senior


Housing in India Staying Ahead of
the Curve

1000
800
600
00
00
0

Rest of Population

Population 60+

Source: Census of India, NSSO Projections, JLL analysis

Figure 2: Increase in Literacy Amongst Seniors in India


100
80

66

60
0

77

75
61

58

9




1

1

9

8

0
0

1991

001
Rural

Urban

008

Female Urban

Male Urban

Source: Census of India, NSSO Projections, JLL analysis

Figure 3: Population Pyramid - Elders Increasing with Time


80+

2001

2006

2011

2021

70-7
60-6
50-5
0-4
0-3
0-2
10-1
0-

Source: Census of India, NSSO Projections, JLL analysis

Seniors now consider life after retirement as an opportunity to spend more time with families, pursue hobbies, develop new interests or even
continue working or starting a new career. While it is true that the seniors are more independent and better equipped to take decisions post
their retirement, it is equally correct to say that their needs are not rightly understood and therefore not met appropriately by both public and
private sector at large. The senior community presents a tremendous opportunity to service providers and entrepreneurs to not only innovate
on their housing needs but addressing their various lifestyle service and product needs.

 On Point Senior Living Sector in India

Addressing Needs of the Senior


Population

Figure 4: Needs of the Senior Population

Besides catering to basic needs such as housing, nutrition,


security and convenience aspects, solutions for housing for seniors
across the world are now addressing the wellness needs of the
seniors, providing better and preventive healthcare, engagement,
companionship and planning for higher levels of resident
dignity and independence. Wellness as a perceivable need is
transforming from just physical wellness to encompass financial,
spiritual, emotional, intellectual, social and environmental wellness.
Seniors in India are typically taken care of by their children or family
members. With younger generations traveling to different parts
of the country and abroad, a large segment of seniors today are
staying alone. Seniors staying alone in Indian cities in traditional
housing expose themselves to risk of urban crime besides taking
on the myriad hassles of day-to-day living in an urban ecosystem
which is not sensitive to their requirements.
Healthcare remains as one of the most important needs for seniors.
Seniors are more prone to get affected by ill health than younger
groups. Ageing is usually always accompanied by various physical
and mental ailments. Thus, healthcare considerations must be
kept paramount when looking at housing solutions for seniors. In
India, healthcare groups can play an active role in the senior living
industry either venturing into the space on their own or partnering
with corporate developers serious on the senior living sector from a
long term perspective.
It is imperative that real estate developers understand and
acknowledge the unique necessities of the elderly while catering
to the sector. The aged population faces numerous issues, typical
of the sunset years of their lives. The growing sense of insecurity,
loneliness, fear of obsolescence within the family, increasing

SPIRITUAL

FINANCIAL

EMOTIONAL

Holistic
Living

ENVIRONMENTAL

INTELLECTUAL

PHYSICAL
SOCIAL

Source: Jones Lang LaSalle Education, Healthcare and Senior Living

physical disability, difficulty to access transport, quality healthcare


and geriatric care, complexity in conducting the daily chores of
family life are some of the several issues that the aged often face.
These, compounded by poor accessibility to government and other
support systems, insurance and legal assistance create severe
problems for seniors.
The real estate environment being developed for seniors should
recognize and address these issues to ensure comfort to and
compatibility with this special population group. It should also keep
in mind sensitivities to unique Indian cultural aspects regarding how
seniors are treated in India and offer community life upholding their
sense of respect and self-esteem.

Figure 5: Needs of the Senior Population

Financial
Reduced source of
income

Legal

Practical

Emotional

Healthcare

Government tax
machinery

Crimes against seniors

Increase in loneliness

Dementia

Property maintenance

Day to day bill payments

Loss of sense of security

Geriatric problems

Day to day shopping

Lack of companionship

Unsafe travel

Children staying abroad

Source: Jones Lang LaSalle Education, Healthcare and Senior Living

Key Challenges in the Senior Living


Sector in India
Social Stigma
The largest stumbling block for senior living in India is the social
stigma attached with the concept. While senior living projects
like Athashree in Pune has seen an increased acceptance of the
concept in the community, a lot more needs to be done to make
the concept acceptable to larger sections. Entry of professional
and reputed corporate groups developing lifestyle senior housing
projects with a strong emphasis on service delivery rather than
real estate will change the perception of such projects and shift the
positioning from social stigma to an aspirational project to be in.

Affordability
Despite demand, senior living in India is far from a flourishing reality
owing to issues of affordability. Divided between diminishing finances
post-retirement and an aspiration to live independently, the higher
perceived operating expenditures of a senior housing community
reduce seniors interest in such projects. As per research undertaken
by Jones Lang LaSalle, viable operating expenditures in a senior
living facility will range anywhere between INR 15,000 25,000
per month at the standard level and INR 35,000 - 45000 per month
per couple at the luxury level (inclusive of food, security, common
utilities, engagements, activities, preventive wellness, common
transport but excluding medicines, unit level utilities, and real estate
costs).

Manpower
Senior care requires trained manpower at various levels from
doctors trained in areas of geriatric sciences, paramedical staff,
care workers, and professionals who have working experience in
designing, executing and operating senior living projects. In absence
of trained senior care manpower, current housing solution providers
often use people from hospitality and healthcare background. While
this is a good start point, there is a need to setup focused institutions
and spread awareness of the sector as a viable career option
offering tremendous opportunities in the long run.

Legal Framework
Though The Maintenance And Welfare Of Parents And Senior
Citizens Bill 2007 provisions for the maintenance and welfare of
parents and senior citizens, the country is yet to see any major
progressive legislation in areas of senior living standards, service
standards, financial products, legal support etc. There is a need to
bring in innovations in provisions related to reverse mortgage and

On Point Senior Living Sector in India 

other financial innovations which can have a far reaching impact on


the sector. There is also need to offer incentives on FSI to further
motivate real estate developers entering the sector.

Levels of Care in Senior Housing


Facilities

As seniors move from being young seniors to elder seniors from


their 60s to 80s, the needs of seniors undergo radical changes. As
a result, housing solutions which work when the senior is fit mentally
and physically will start failing when the person needs higher
levels of care and is facing age-related health changes like vision /
hearing impairment, arthritis, and forms of dementia. Taking this into
consideration, senior living projects globally propose a concept of
age in place where all required facilities are present within the same
campus so that the senior does not have to move out of the campus
with age.

Independent Living
The continuum of care for seniors begins with Independent Living
(IL). Typically, an IL unit is not different from traditional housing
but is better designed from an architecture standpoint with various
design interventions taking care of seniors. These could range
from better lighting, mobility facilitation, and aspects of universal
design. Bathrooms and kitchens are designed to accommodate
wheelchairs and walkers, hallways and doors are wider and tiles and
flooring are anti-skid. Socialization plays an important role in uplifting
the atmosphere of the IL and improving the health stature of the
residents.

Assisted Living
Assisted Living (AL) units allow residents to have access to care
workers who can assist the residents in day-to-day activities. It
is possible in the Indian context to merge IL and AL and having
provision for care worker rooms within the IL units. Such care worker
units could double as an office in the younger stage and allow for
a 24/7 care worker stay if required in later years. Both in IL and AL,
residents have access to short and long term nursing needs, if and
when necessitated, while enjoying the environment similar to their
home. This reduces the need to travel to hospitals and also instills a
healthy form of lifestyle so as to slow effects of ageing.

Skilled Nursing Care


Skilled Nursing Care (SNC) provides residents with nursing
care facility. It has provision for taking care of physical or mental
disabilities and the residents are provided with physical, occupational
and rehabilitative therapies. Services increase considerably in

 On Point Senior Living Sector in India

this stage with availability of nursing aides and assistants; physical, occupational and speech
therapists; social workers and recreational assistants; and transportation. Greater care is required
in a timely and appropriate manner. The prime objective during this stage is to provide a holistic
and yet home-like environment to the residents.

Top 6 Age Related Changes


Hearing impairment
Failing vision
Osteoporosis & Arthritis
Diabetes & Hypertension
Cardiac disorders
Dementia in various forms

Progressive projects now allow IL, AL and SNC and optionally Alzheimer care facilities all within
one campus however, they may be phased over a period of time. This allows for a continuum of
care and residents benefit from having all facilities in one campus-like environment. Such facilities
get termed as Continuing Care Retirement Communities. CCRCs are yet to see a presence in India although a few corporate groups have
now designed blue prints to come up with such projects.
Figure 6: Levels of Care in Senior Housing Facilities

50-70 years

65-75 years

Above 70 years

Active Adult, able to take


care of self and no serious
healthcare ailments.

Active Adult, but needing


some support systems during
the day

Need continuous medical


attention and care in a
homely environment

Enter in an independent villa or


apartment and move to assisted
and nursing as you age

Independent Living

Assisted Living Spaces

Skilled or Nursing Care

Continuing Care Community

1 3 Bed room
independent apartment or
villa / cottage

Staff available for taking care in


dressing, bathing, reminders,
and other daily activities;

Equipped to address 24 hour


medical concerns

All common facilities


such as Club House,
Recreation, Health Club,
Social Activities, Continuing
Education, Eateries,
Business Conferencing,
Travel Tourism

Assistance in non medical, non


nursing needs

Near Medical environment for


maintaining elders needing
continuous care

Home like atmosphere, smaller


unit sizes

Lesser unit sizes meant for


high degree of care

1 2 bed room with larger


toilet and a pantry

Interiors are friendly and


unlike typical hospital space
yet equipped like a nursing
facility

Maintenance,
Housekeeping, Security,
Travel needs, Social needs
taken care of

Comfortable support system


with stress on social aspects

Ideal for short stay post


operation or injury also

Above 50 years

Age in Place concept


Designed to address changing
needs with growing age related
requirements
Removes need to move when
you grow older
Takes care of short stay
nursing needs
A campus like environment
with lot of social life, activities
and complete freedom from
day to day stress of making
food, maintenance, travel etc.

Meant for 50+ population


only
Note: Most projects in India currently are Independent Living projects whereas continuing care communities are a global trend
Source: Jones Lang LaSalle Education, Healthcare and Senior Living

On Point Senior Living Sector in India 

Formats of Senior Housing Facilities

Senior housing formats vary from small scale Urban Formats to large scale Suburban Formats. Due to lack of availability of land parcels within
the city, the urban formats are typically planned vertically, while suburban formats are low-rise developments spread over a larger expanse.
Figure 7: Format of Senior Living Facilities

Urban City
Centre
Formats

Peri-Urban
Formats

Small scale CCRCs, spread over 1-4

Mid-scale CCRCs, spread over 4-10


acres, are peri-urban formats. These
can be located within the city limits or
on the peripheral locations. They can be
apartments, independent houses or villas
replete with all amenities which can be
stacked floor-wise or spread out
or a mix of both.

acres, are urban formats. Typically, these


are located within city limits and are
vertical in design owing to lack of space
for spreading out. All the amenities are
stacked floor-wise and are within easy
reach of the residents. A vertical CCRC is
increasingly correlated with urban spaces
and gives the occupant the feeling of an
active lifestyle. There is a heightened
sense of socialconnect, interaction and
security, since all the residents stay
close to each other.

Source: Jones Lang LaSalle Education, Healthcare


and Senior Living

Sub-Urban
Formats

Large scale CCRCs, from 10 acres to


50 60 acres are typically sub-urban
formats. These are communities with
large expanse of spaces for amenities
and independent houses for the
residents. Due to lack of space within the
city, these are located at the outskirts and
provide all amenities within the campus
itself. The target audience for this kind of
development is seniors looking for larger
spaces. Low rise CCRCs offer large open
green spaces, are typically self sufficient
in all aspects amenities and healthcare
within the campus; and do not require the
residents to travel out of
the campus often.

10 On Point Senior Living Sector in India

Is your Site Suitable for a Senior Living Facility? What Factors are Important?

Senior living projects are specialized projects and therefore have unique location requirements which can make a difference between an
average and a successful project. Most Indian cities have options in growth corridors to locate a senior living project. However, factors such
as availability of healthcare, social ecosystem, connectivity besides the aesthetics of the site ecosystem continue to play a major role in
selection by senior residents.
Figure 8: Factors to Consider While Selecting a Location for Building a Senior Living Facility

Healthcare
Accessibility

Spread, quality of and


access to healthcare
facilities from various
locations within each
corridor. Typically the
site should be within 20
30 minutes from a good
secondary and tertiary
care hospital.

Growth Perspective

Social Ecosystem

Connectivity

Crime Rate

Congestion Index

Presence of social
facilities such as
temples, clubs, retail
mall, entertainment and
recreation facilities in the
nearby catchment.

Connectivity to the
major city nodes, activity
hubs and employment
workplaces. Considers
both existing & proposed
infrastructure initiatives
within the city to ease
commute.

Incidences of crime or
the perceived sense
of security or the lack
thereof in different
pockets of the city.
Sometimes a suburban
undeveloped area can be
perceived as risky from a
crime perspective in-spite
of site level security.

Lower traffic congestion,


lower density, lower
presence of polluting
industries etc for
locations within the
corridors have a positive
effect on selecting a
location for seniors.

Education
Ecosystem

Employment
Destination

Spread, quality of and


access to educational
facilities play a role in
selection of a project. In
many cases, presence
of such institutions offer
residents an opportunity
to work and also learn
new skills.

Access to employment
hubs and facilities play
a strong role since
seniors especially in the
independent living stage
want to stay employed
even if it is part-time or
consultative employment.

Aesthetic
Ecosystem

Expected growth in
Presence of well
terms of civic amenities
maintained public parks,
and infrastructure in a
roads, water bodies,
particular corridor. Senior visual image of built form,
residents will want to
control of density, general
benefit from locating in
cleanliness etc found
growth corridors and
within locations in each
take advantage of capital
corridor.
appreciation.

Land Value

Lower land value (to


ensure affordability)
for locations within the
corridors can be a strong
attraction.

Source: Jones Lang LaSalle Education, Healthcare and Senior Living

A suitable location for setting up a CCRC is one which scores high on the positive attributes such as healthcare accessibility, social
ecosystem and connectivity; and low on negative attributes such as land value, congestion and crime index. Healthcare accessibility, social
ecosystem and connectivity are important considerations for the seniors and hold higher weightage. The good thing about senior living is that
it is possible to move out of the city into more affordable zones. However, the developer has to be cautious that the project does not go too
much off the social and economic connect of the city in which case the project will face difficulties from an occupancy perspective.

On Point Senior Living Sector in India 11

Senior Living What is the Demand for Senior Living in India?

Demand for senior living comes from a variety of customer segments with varying needs and wants. However, primarily the need for better
healthcare in old age, secure surroundings, and a social support system designed to take care of the senior are prime drivers for demand for
such assets. The four primary types of customers as per our research are:
Figure 9: Types of Senior Living Occupants

TYPE 1
Aspirational well-heeled empty
nester couple wanting a better
quality life

TYPE 2
Aging retiree facing early or
advanced signs of constant
health care needs

Offers suburban lifestyle

6% of seniors in India have


some form of dementia
Couple would find the concept
of campus life appealing
Family not able to take good
care of senior on their limited
Values being part of peer
resources
group of like-minded / similar
social strata
Willing to pay premium for
good project design and
proper brand

Brings relief to second


generation from care giving
and still allows connect on
24/7 basis.

Seniors staying alone who


like the social campus like
environment

Values professional care


environment which is required
at this stage

Appreciates long term


healthcare requirements

Highly relevant where support


system is absent

TYPE 3

TYPE 4

Non Resident coming back from


outside India or from other state

Short term stay seniors wanting


to stay for 3 - 6 months a year

All points of Type 1 customers


are valid for NRIs as well

Travelling NRIs coming to


India on short stays due to
weather, visits, functions or
religious requirements.

Large customer segment in


Middle East, North America,
Europe and AUS

Possible to also attract


foreigners to come to such
projects

Focused reach through NRI


regional groups
Both (a) seniors staying
abroad wanting to come back
as well as (b) children staying
abroad; with parents here will
fuel demand for projects

Good way of having seniors


stay in the resort-like
ecosystem if care family is
travelling
Health & wellness stay
Rehabilitation & recuperation
stay

Source: Jones Lang LaSalle Education, Healthcare and Senior Living

Courtesy: Rakindo Senior Living | Coimbatore

12 On Point Senior Living Sector in India

Assessing Demand for Senior Housing in India

In terms of market numbers, in an analysis of 135 urban cities / towns in India with a total population of 223 million and total 52 million
households, households with seniors represent 12.8 million households (24.6%). Of these 12.8 million senior households, the demand for
formal senior living facilities from varying SEC and income typologies will be about 312,000 units. The break up of these 312,000 units per
SEC, Income and geography is shown in Figure 10, 11, 12 and 13. Typically the ticket price for high-income senior units would be between
INR 50 75 lakhs or above, mid-income will be INR 25 50 Lakhs, low-income between 10 25 Lakhs and BOP below INR 10 lakhs.
(INR 1 lakh = INR 100,000)
Figure 10: Pan India Senior Living Demand Distribution of
Urban Households per SEC and Income Level
High
Income*

Mid
Income

Low
Income

BOP

SEC A

15,381

16,168

17,838

14,920

SEC B

5,629

10,917

16,933

30,605

SEC C

1,843

6,159

13,049

37,436

SEC D

3,077

5,941

11,530

54,518

SEC E

290

643

2,206

47,372

* High Income (Annual income > INR 15 lakh), Mid Income (INR 7.5 15 lakh annual
income), Low Income (INR 3 7.5 lakh annual income) and BOP (Annual income
below INR 3 lakhs)
Source: Jones Lang LaSalle Education, Healthcare and Senior Living, 2011
Source Data: Indicus Analytics

Figure 11: Pan India Senior Living Demand Distribution of Urban


Households per City Typology
High
Income

Mid
Income

Low
Income

BOP

Tier 1 Cities

11,505

13,810

19,171

48,457

Tier 2 Cities

4,154

6,449

9,229

30,751

Tier 3 Towns

10,561

19,570

33,156

105,643

Source: Jones Lang LaSalle Education, Healthcare and Senior Living, 2011
Source Data: Indicus Analytics

Figure 12: Pan India Senior Living Demand Distribution of


Urban Households per Regional Geography
High
Income

Mid
Income

Low
Income

BOP

North

6,544

9,402

13,620

40,934

East

3,774

6,687

10,951

34,636

Far East

216

415

773

2,636

West

8,482

12,348

18,536

41,218

South

6,829

10,407

16,745

60,533

Central

376

571

931

4,892

Source: Jones Lang LaSalle Education, Healthcare and Senior Living, 2011
Source Data: Indicus Analytics

On Point Senior Living Sector in India 13

Figure 13: Pan India Demand for Senior Living Housing Units
By SEC Typology

By SEC Typology (removing BOP)

10, 2%

50511, 16%

64307, 1%

75066, %

608, 1%

1051, 16%

58487, 19%

SEC A

SEC B

49387, 0%

058, 16%

33479, 6%

SEC C

SEC D

SEC E

SEC A

By Product Typology

SEC B

SEC C

SEC D

SEC E

By Product Typology (Only SEC A, B & C)

60, 8%

85, 1%
989, 1%

5, 18%

8961, %
18850, 59%
61556, 0%

47819, 6%
High Income

Mid Income

Lower Mid Income

Low Income

High Income

By Tier of City

Mid Income

Lower Mid Income

Low Income

By Regional Geography
1877, 1%
9565, %

981, 27%
86, 5%
63287, 9%

111, 17%

198, 16%

Tier 1 Cities

Tier  Cities / Towns

Tier  Towns

Source: Jones Lang LaSalle Education, Healthcare and Senior Living, 2011
Source Data: Indicus Analytics

965, 1%

North

East

105, 1%

Far East

West

South

Central

14 On Point Senior Living Sector in India

Senior Living Supply in India


Where are projects coming up?
There has been a marked increase in the number of senior living projects in the last five years with growing acceptability and demand in the
sector. Geographically, senior living projects are coming up in the suburbs of all key metros in the country and in some selected destinations
such as Coimbatore, Goa and Dehradun which have traditionally been retirement towns. The annexure of this paper presents a brief of
several major projects coming in the country.

Who are the players building such projects?


Private entities who have already made a foray into the sector are Ashiana Group of Builders, Paranjape Schemes, Impact Senior Living
Estate, Covai Properties, Brindavan Senior Citizen Foundation and Classic Promoters, among others. Their projects are already operational
in major metros like NCR-Delhi, Pune, Bangalore, Amritsar, Coimbatore and Chennai. LIC Housing Finance entered the sector with Care
Homes at Bangalore as a part of their corporate social responsibility initiatives. Apart from these, there are charitable organizations working
in the sector. Some of Indias reputed corporate groups have also started building their business plans to start senior housing projects.

What is the nature of supply?


Majority of these developments have 50-100 units in the form of residential complexes, with larger ones having over 400 units. The typology
of units varies from 1 BHK-3 BHK units, villas and studio apartments. The typical size of these units range from 500 sq ft to 2,500 sq ft super
built-up (saleable) area. These units are offered under various sale models outright sale, upfront deposit and lease. Most of the projects are
at the affordable levels with figures less than INR 3,300,000 bearing the fact that the end consumers are senior citizens. However, there has
been a recent shift with more mid and high-end projects being launched in the market showing signs of maturity of the sector and growing
confidence among the developers to launch niche projects. The charts (Figure 14 and 15) show market segmentation based on pricing, unit
sizes and financial model.

Ashiana Pune

Ashiana
Bhiwadi

700 -100 sq ft
0 -700 sq ft

Size of Unit

100 - 000 sq ft

Figure 14: Senior Housing Projects in India with Offered Unit Sizes and Pricing

Covai
Comb

Retirement Projects

Impact
Amritsar
Bahri
Kodaikanal

Size Range

Athashri
Pune
Clasic
Brindavan Comb
Chennai Dignity
Mum
Dignity Chennai
Riverdale
Cochin

Golden
Nest
Pune

Godhuli
Kolkata

Low - Economy
INR 0 - 33 Lakh

Medium - Semi Luxury


INR 33 - 66 Lakh
Price of Unit

Source: Jones Lang LaSalle Education, Healthcare and Senior Living, 2011

High - Luxury
INR 66Lakh - 1 Crore

Price Range

On Point Senior Living Sector in India 15

Lease

Figure 15: Senior Housing Projects in India with Offered Typologies, Pricing and Disposal Models

Covai
Comb

Villa

Deposit

Clasic
Chennai

Duplex Villa, Simplex Villa

Dignity Brindavan
Comb
Godhuli Mum
Kol
Dignity
Chennai
Clasic Chennai

Riverdale
Cochin
Brindavan
Comb

Sale

Clasic
Chennai

Ashiana Brigade
Bhiwadi Bglore
Athashri
Ashiana
Pune
Pune

Low
INR 0 - Lakh

3 BHK

Impact
Amritsar

Ashiana
Bhiwadi
Ashiana
Bhiwadi

Apartment

Impact
Amritsar

Ashiana
Pune
Covai
Comb

Bahri
Kodaikanal Ashiana
Pune
Athashri
Covai
Pune
Comb

Bahri
Kodaikanal

Ashiana
Pune

3 BHK

2 BHK

Cottage
2 BHK

1 BHK

Studio/Rooms
 Rooms

1 Room

Golden Nest
Pune

Medium
INR  - 66 Lakh

High
INR 66 Lakh -1 Crore

Source: Jones Lang LaSalle Education, Healthcare and Senior Living, 2011. Note: Mum is Mumbai, Comb is Coimbatore and Kol is Kolkata

Top 10 Best Practices for success in


the Senior Living Sector

As in any service-focused industry, success in senior living will be


determined from the strength of soft service related factors rather
than hard factors of real estate. While amenities can be created
with capital, it is how they are managed and the service delivery
arrangements which will determine the quality of the brand. The
players in India who are already in the sector have a clear headstart in delivering on the requirements of seniors. In the long run,
the differentiator for brands and their premium will be from how the
service delivery is executed on ground and not on hard aspects. 10
key best practices which will work for a group interested to enter the
senior housing sector or strengthen their presence in the sector are:
1. Strong professional management team: The management team
of the senior living project is the face of the brand - recognized
and correlated with by seniors. A good mix of leaders from
various professional backgrounds in operations, finance, strategy
and experience in hospitality, healthcare or senior living will be
required for delivery.
2. Senior living knowledge and operator partner: While senior
living concepts from west may not be replicable in India in entirety,
there is a wealth of wisdom in the form of processes that exist with
international operators of senior housing. It will be a good idea to

tie up with an experienced entity either as a knowledge partner or


an operating partner.
3. Healthcare partner: A renowned healthcare partner catering
to the healthcare requirements of the seniors preferably with
specialization in geriatrics and focus on preventive healthcare will
be mandatory.
4. Location of the project: Location remains an important
consideration while developing a senior living project. Seniors
require safety and a feeling of being well connected to their social
circle. Although sites located in the peripheral areas offer peace
and serenity, care should be taken that it is equally well connected
to social nodes of the city and does not give a sense of being too
far from the city.
5. Variety of disposal models and pricing: Some seniors will be
rich in liquidity but poor in asset ownership and others will be
asset-rich but poor in liquidity. As a result of this variance, good
projects will offer multiple models of disposal and financing which
offer customers an opportunity to customize his financing model
accordingly.
6. Design innovations, unit & project layout: Architectural aspects
such as anti-skid flooring, grab bars, lighting systems, and layout
of the project are some of the basic features in senior housing
projects. However, the subject of design for aging has become
quite specialized and innovations in design can be sought from
experts.

16 On Point Senior Living Sector in India

7. Senior living architects and consultants: It is recommended


to go for architects with established practice in senior living and
particularly those who have worked in the Asian region. A quick
check in Association of Architects Department of Aging will provide
insights on architects who specialize in this space.
8. Focus groups & market research: It is vital to undertake
detailed and comprehensive market research on local trends
and perceptions in the senior living space. Senior living needs
perceived in Coimbatore has differences from those in Amritsar
and a market research process with stress on quantitative surveys
backed by qualitative focus group discussions is vital to make the
product mix correct.
9. Branding and marketing strategy: Branding will play a vital role
in the success of a senior living project. An experienced brand
agency with experience in establishing service businesses and
experience in real estate will help develop and nurture the senior
living brand. The marketing strategy will have to use innovative
techniques using social networking channels, word of mouth, NRI
marketing channels, and target on very select customer profiles
10. Services amenities & product mix: A carefully thought out
service & product mix, unit sizing, unit pricing, facilities and
amenities catering to local tastes while keeping global best
practices in mind will help position the project well.

Financial Models and Disposal


Mechanisms for Senior Living in India
Globally, there are various variants of how a senior can enter a
senior living project such as deposit model (with variants which
range from one time complete payment all inclusive to partially
inclusive to a-la-carte per pay use models), equity ownership
models, lease models etc. In India, the sale model will remain the
most popular model in the industry till the time more sophisticated
versions start getting accepted in the market. At the INR 10 20
lakh price point levels, it is possible to introduce refundable deposit
models which allow for developers to bring in smaller size units to
the market. Deposit models typically do not work if the ticket size
becomes above INR 20 lakhs. In the case of sale based model,
it is possible to get a premium to the ongoing market real estate
markets by developing a good lifestyle senior living project following
the best practices as mentioned earlier. It is also recommended that
a percentage of units are kept on a rental model even if it brings
down the overall project returns so as to allow community to build
up. In the senior living business, it is possible to get good returns by
adopting best practices. However, on the long run, the promoters
must also look at optimizing the returns in such a way so as to

allow development of occupancy in the setup. Typically, a 100%


sale model promotes speculative buying and it is possible that on
commissioning a large percentage of the housing remains vacant.
While this is something that is not possible to completely eradicate,
a careful phasing plan and a well thought out mix of units between
sale and lease will not only ensure financial returns are viable but
will make the community come to fruition and increase price points
for further phases.

Figure 16: Financial Models and Disposal Mechanisms for Senior Living
Disposal Model
Complete Sale Model
(Transfer of Title)

Advantages

On Point Senior Living Sector in India 17

Disadvantages

Social Acceptance: Since the underlying product


Speculative Buyers: The proposed concept is
is residential real estate, complete sale model is
specifically aimed at servicing end users who would
likely to find higher acceptability in the market due to
actually require staying in a senior living community.
freehold ownership of units by buyers.
It becomes difficult to distinguish between a
speculative buyer and a serious buyer in a complete
Quick Financial Start: Complete sale model allows
sale model. Introduction of penalties on the other
the sale of stock and thus generation of revenues
hand for occupancy may prevent sales.
while the construction is still in progress. Further,
it allows the developer to match the phasing of
construction with sale.

Returns: This model helps the developer to offload


the residential stock in the market and thus achieve
quicker and higher returns. Further, the payback
periods are shortest and project returns in a sale
model are the highest due to early cash flows.

Low Occupancy: The proposed concept of


senior living community is aimed at encouraging
the occupancy of residential stock by end users.
The holistic development of community, interaction
between the residents, success of facilities offered
and optimization of cost grows with the growth in
occupancy.

Capital Appreciation: Senior living communities


is a new concept in Indian markets. The growth in
value and capital appreciation of project depends a
lot on developers vision, expertise and commitment
to deliver in addition to normal real estate growth.
Financing: Since the title is transferred to buyer in a
Transfer of ownership in a sale model doesnt
sale model, it is easier for buyers to raise bank loan
allow the developer to enjoy a share in capital
and other forms of financing.
appreciation.
Title Security: The proposed concept of senior
Lack of Control: Transfer of ownership to end
living community is targeted at the senior aged
user dilutes the control of developer over the
population. Transfer of title offers them the security
project. Such control is quite significant to maintain
that the investment will be automatically transferred
processes, quality, uniformity and branding in a
to their legal heirs after their demise.
project.
Mortgage: Since the sale model allows transfer of
ownership to end users, the property can be used
by them for mortgage and collateral purposes. This
enhances the customer preferences.

Lease Deposit Model


(A percentage of the
capital value is taken
upfront and the rest
is paid in the form of
monthly rentals over
the period of stay)

Allows Flexibility in Payments: This model allows


the flexibility of payments for entry cost into the
project. Customers can enter the project with an
upfront fee followed by regular lease rentals.
Lowers Price Entry points: End users can enter
the project by paying an upfront premium which is
generally 60-70 % of the market value of the unit
and the rest is paid in the form of rentals over the
period of stay in the project. Thus, this model allows
lowering the entry cost.
Allows developer to benefit from Capital
Appreciation: The model allows the developer to
retain some percentage of the unit and therefore the
appreciation of the unit remains with the developer.

Pure Rental Model


(No upfront deposit
paid while resident
period monthly rentals
over the period of stay
with a nominal security
deposit)

Occupancy Assurance: This model ensures that


those subscribing for the project are most likely to
occupy the units. It allows customers to keep their
existing real estate assets, place the same on rent
and allow a rental spread to stay in the senior living
project.
Control on Project: The complete ownership is
retained by the developer in the project; it offers
maximum control over the project.

Low Returns: Since complete market value of


residential units is not recovered at the time of sale
this model offers lower returns in comparison to a
sale model. Further the rental payments are spread
out over years, which impact the present value of
cash flows resulting in lower project returns.
Acceptability to Deposits / Leasing: Customer
acceptability to deposits in a real estate investment
becomes a concern.
Payback: Lower upfront cash flows and spread out
payments over the years leads to stretched payback
period from a financial feasibility perspective.

Lowest Return: This model offers the lowest level


of returns in the project since there is no upfront
payment and lease rental yields are around 3 4%
in India which cannot make a project viable in India.
Higher Switching Behavior: Since residents have
least stakes attached in the project, it allows them to
easily switch over to other projects and locations.

High Financial Exposure: The entire risk of capital


investment in the project is borne by the developer.
Capital Appreciation Benefit: Complete ownership
Further, there are no revenues in the form of
of residential units allows the developer to enjoy
bookings or construction linked absorption plans
complete benefits of capital appreciation in the value
until the project is complete and delivered.
of units.

18 On Point Senior Living Sector in India

The Road Ahead

The senior living industry in India is poised for significant growth in the coming years. As with any new industry, the senior living industry is
expected to see the entry of players from various backgrounds, predominantly from the real estate sector. Jones Lang LaSalle views the
following key trends to emerge in the coming 24 36 months in the senior living industry and presents its recommendations to enable the
industry achieve higher quality and satisfaction from its clients.

Industry Trends
Increased sophistication and product improvement by existing senior living players: Developers such as Ashiana and Athashree
have extremely good working experience with seniors in India. This learning curve, built over a period of time, allows them to be perfectly
poised to bring out product innovations over their already established brand presence.
New market entrants: The market will witness regional real estate developers and a few corporate pan India real estate developer brands
experimenting with a senior living solution as part of a mixed-use residential project to explore the market potential before launching fullscale retirement projects. There is a period of wait and watch others expected for another 2 3 years.
Entry of corporate firms: The sector is expected to attract participation from corporate firms, which are currently active in healthcare,
hospitality, insurance, and other service related sectors. The current market has predominantly participation from firms having a
background in real estate development.
Partnerships between international and Indian senior living players: While select Indian players have already partnered with
international groups, the industry is likely to see a rise in the number and nature of partnerships between operators and owners. It is likely
that international operators will be involved more in future as knowledge and process design partners rather than for capital infusion.
Public curiosity and media support: It is likely that the first few projects launched by top corporate firms will generate large media and
customer curiosity in the sector. Such projects, if clubbed with innovative financial retirement solutions (Eg. health insurance for aged) and
designed with best practices in services delivery, can be a game-changer towards creating demand volumes in the industry. Customers
will appreciate such solutions only after they have an opportunity to experience the utility and comfort of the state-of-the-art senior
living projects.

Industry Recommendations
Senior living industry body: The setting up of a senior housing developers forum under the aegis of a premier national level industry or
trade configuration is recommended. This industry body should undertake industry events and trade related activities to support the growth
of the industry along with disseminating relevant and correct information regarding the perception of the senior housing market in India.
Development controls: There is a need to set up a working committee which would draft a set of development controls relevant to senior
living projects. Senior living projects, by virtue of their unique characteristics, should not be given the same FSI or development controls
(Eg. density norms) as given in residential projects. Further, the possibility to grant additional FSI to senior living projects needs to be
explored, owing to the fact that they have lesser housing density (which imply lesser pressure on urban infrastructure) and are relevant in
the social structure.
Accreditation: Although not an immediate need, the industry has a unique opportunity to promote high quality senior living projects as
more new entrants enter this space. For new projects, it is important to put together standards and norms that would enable a project to
get classified as a high quality senior living project.
Training: No senior living project can provide a holistic care without the support of trained care workers and medical staffs having
experience in working with aged patients. While the latter is still manageable with current healthcare training facilities, the industry needs
professionally recognized institutes which can train human resources willing to undertake senior-care as a career.

The two most dominant trends in


seniors housing are affordability
and non-institutional models.
The expectations of the current
and coming residents (and their
families) will no longer settle for
facilities that resemble prisons
and/or are outrageously priced.
The non-institutional facility will combine the best of
architecture, technology and medicine to deliver a warm,
home like experience that fosters communication with
family, health care professionals, and the community.
This facility will deliver this environment and services at
a cost that most people can afford. Once these dominant
trends are understood, it then becomes imperative to
adapt them to the particular society and culture that
is being solicited. Location, size (of facility and units),
amenities, staffing become critical elements in the noninstitutional, affordable model. Potential residents are
not coming to die, rather they are coming to live an
enjoyable and meaningful lifestyle. The facility is not an
institution--it is a home.

Michael Berne
Managing Director Senior Living Practice
Jones Lang LaSalle Americas (New York)

On Point Senior Living Sector in India 19

Retirement villages are an established


industry in Australia and is a wellaccepted mode of living for retirees
and the aged. However, with the
coming of age of the baby boomers,
seniors living community developers
are now changing their products to
incorporate elements of what the
modern seniors require.
Transitioning to seniors housing no longer means settling
for a sedentary lifestyle or a two-stage move from their own
homes into an independent living retirement village and when
their health fails, move into their next and final stage into a
residential aged care facility.
Todays retirees are looking for a smooth transition from their
family homes into a lifestyle community which will enable them
to live a healthy and active lifestyle and when required, be
provided with the necessary nursing care. The current trends
in seniors housing products include- larger living space of 3
bedrooms with a double garage, co-location of independent
living units and aged care, supported living / continuing care
communities whereby nursing care and supported services
are available on demand, vertical living in urban locations,
increase technological elements in the products for the new
tech-savvy generation such as wireless Internet access.
The seniors living product must enable the new and more
affluent seniors to take advantage of the good lifestyle with
the peace of mind of knowing that their future is secure.

Brendan Wenke
Director, Health and Aged Care Practice Australia
Jones Lang LaSalle Australia

20 On Point Senior Living Sector in India

Senior living in India is about to enter a period


of trial and error, but I am certain that we will
soon see a thriving market for both senior friendly
communities and specialized senior living and
care facilities including continuing care retirement
communities, assisted living, and skilled nursing
health centers. The same demographic changes that
have made senior living a popular option in other
rapidly developing countries are now underway in India: a sharp increase
in the number of seniors, steady increases in life expectancy and with it
the greater impacts of biological aging, the geographic dispersal of the
traditional multigenerational family, and the growing recognition that well
planned and managed senior living offers a safer and better life style for
many older Indians. The first senior living communities are open and many
more are planned. Some developers think that a few senior-oriented details,
amenities or services are enough to attract a segment of this market. Over
time these timid entries into senior living will have to adapt to avoid failure.
Successful senior living depends on well planned and managed facilities
and services, a size that matches the market, an attractive and appropriate
location, and an understanding of aging and senior needs. Many operators
will want to limit themselves to independent living for wealthy seniors.
They need to remember the healthy 70 year old moving in will be 80 ten
years later and will probably need and demand a different living and care
environment. A growing number of companies are developing senior living
in India. Some are thoughtful and will be successful. Their success will
stimulate many others to respond to the need. Over the next 10 years, I
predict that India will develop a wide range of successful senior friendly
communities as well as many specialized senior living and care facilities.

Bradford Perkins
FAIA MRAIC AICP
Chairman, Perkins Eastman, New York and Mumbai

Newbridge on the Charles


An Award Winning International
Senior Living Project
Site Area: 162 Acres
Total Built up area: 1,011,572 sqft
182 Apartments, 24 villa units
50 independent living cottages
51 assisted living units
40 special care / dementia units
268 skilled nursing beds

On Point Senior Living Sector in India 21

JAMMU AND KASHMIR

Senior Living Projects


in India

HIMACHAL
PRADESH
Impact
Impact

PUNJAB

UTTRAKHAND

HARYANA
Delhi Ashiana I AVI

ARUNACHAL PRADESH
SIKKIM

RAJASTHAN
Ashiana I AVI

Jaipur

UTTAR PRADESH
Ansal API

map

ASSAM

NAGALAND

MEGHALAYA

BIHAR

MANIPUR
Aakriti
Bhopal

CHHATTISGARH
Rachana

MIZORAM

WEST BENGAL

MADHYA PRADESH

GUJARAT

TRIPURA

JHARKHAND

Nagpur

Kolkata
Rosedale I AVI I
Godhuli
ORISSA

MAHARASHTRA
Mumbai

Dignity
Pune
Ashiana I Athashree I
Golden Nest

Hyderabad

AVI I Covai

Covai I Saket
EXISTING

Utopia | Palacio
GOA
ANDHRA PRADESH
KARNATAKA
Athashree I Vakil I Covai I AVI I
Concorde I VLN I Sriram
Bangalore
Bahri
Chennai
Covai I Classic I Dignity Village
Covai
Covai I Brindavan I Rakindo

PROPOSED

Covai

Coimbatore
Ponni Delta
TAMIL NADU
Kochi
Infra Housing I Riverdale
KERALA

Source: Jones Lang LaSalle Education, Healthcare and Senior Living, 2011

22 On Point Senior Living Sector in India

Ashiana Utsav Retirement Resort


Bhiwadi Jaipur Lavasa

Project Size

15 Acres (Bhiwadi) 31 Acres (Lavasa) and 7.5 Acres (Jaipur)

Number of Units

640 (Bhiwadi) 474 (Lavasa) 310 (Jaipur)

Unit Typology

1,2,3 BHK Apts (Bhiwadi and Jaipur) , 1,2 BHK Apartments & 2 and 3
BHK Villa (Lavasa)

Ownership Model

Sale Model

Developer / Owner

Ashiana Housing Ltd

Maintained by / Operated by

VML (A subsidiary of Ashiana)

Utsav active senior living, one of the earliest to enter the age restricted senior living market in India.
Reasonably priced project on sale model.
Entry restricted to person over age 55 years, however a person below 55 years can buy the property.
Both large size projects with adequate green spaces, circulation areas and activity areas.
MOU with Private Banks : HDFC, ICICI Nationalized Banks : SBI, LIC Home Finance, AGIF and AFGIS

Food services- Dining hall


24X7 Security
Health club, sports facilities
Library
Convenience store
Activity hall

Computer centre
Transportation facility
Medical assistance centre
Meditation and prayer hall
Temple, meditation hall
Move in assistance services

Developer Remarks
At UTSAV, you can live with total freedom in a secure
environment that takes care of all your needs. The Campuses
and the homes are all designed to make your life more
comfortable with special care for needs which come with
advancing age.

Project URL: Bhiwadi : http://www.ashianautsav.com/specificLocation.php?id=1&livserv_cs_id=9917173


Lavasa http://www.ashianautsav.com/specificLocation.php?id=3&livserv_cs_id=9917173
Jaipur http://www.ashianautsav.com/specificLocation.php?id=2&livserv_cs_id=9917173

Athashri
Pune

Project Size

3-5 Acres (4 projects in Pune)

Number of Units

Total around 800 units

Unit Typology

1, 2, 3 BHK (offers a choice of fully furnished apartments)

Ownership Model

Sale and Lease Model

Developer / Owner

Paranjape Schemes Construction Ltd

Maintained by / Operated by

Athashri Foundation

Member / Accreditation

International Longevity Centre

All projects on sale model with reviewable Maintenance Deposit


Compact apartments designed with minimum maintenance
The project not only has an age friendly built environment but also designed to be eco-friendly.
Athashri Assisted Living - ASTHA are single room units that are an innovation in geriatric care,
Athashri Baner, Pune and Athashri Whitefield, Bangalore launched by the group.

24X7 Security
Medical aid on call
Club house
Open air auditorium
Yoga-cum-meditation room
Shuttle bus service

Project URL:

Geriatric gymnasium
Library
Tie up with hospital in the
vicinity
Community halls
Dining room
Entertainment lounge

Developer Remarks
Athashri is not just another residential project but a stress-free
world dedicated to meeting the needs and aspirations of senior
citizens. Designed with meticulous detail to provide continuous
care, attention and a host of special services.

http://pscl.in/real_estate/Project/Pune/Athashri%20Baner/overview

On Point Senior Living Sector in India 23

Brindavan Hill View


Coimbatore

Project Size

3.5 acres

Number of Units

74

Unit Typology

1 BR, 1 BR Cottage, 2 BR Cottage, 3 BR Cottage

Ownership Model

Refundable deposit fee model

Developer / Owner

Brindavan Senior Citizen Foundation (BSCF)

Maintained by / Operated by

Brindavan Senior Citizen Foundation (BSCF)

Refundable deposit fee model. No sale of units.


The accommodation provided is on lease for 20 years, with possibility if further extension
Brindavan Senior Citizen Foundation is a not for profit, faith based community that fosters
integrity and growth
3 existing and one planned project in Coimbatore

Food services
24X7 Security
Gym recreation facility
Library
Engagement activities
Transport and car parking
facility at reasonable cost

Laundry
Tie-up with nearby hospital
Meditation and prayer hall
Power backup
Banking services

Developer Remarks
Brindavan Senior Citizen Foundation addresses the most
urgent needs of our elders, especially food, health and
recreation. The project provides the best of both what nature
and modern life can offer a combination of city home and
farmhouse on reasonable terms.

Project URL: http://seniorhomebrindavan.com/index.html

Serene Covai Properties

Coimbatore, Pondicherry, Chennai, Mysore & Hyderabad

Project Size

20 Acres (5 Projects in Coimbatore), 18 Acres project in Pondicherry, 2


Acres in Chennai, 17 Acres in Mysore and 34 Acres in Hyderabad.

Number of Units

306 villas (Coimbatore), 423 (Pondicherry), 220 flats (Chennai), 170


Villas (Mysore) and 324 villas (Hyderabad).

Unit Typology

Studio, 2 BHK, 3BHK Apartment, Villas

Ownership Model

Sale Model only

Developer / Owner

Covai Property Centre (India) Pvt. Ltd

Maintained by / Operated by

Serene Senior Care Private Limited

Member / Accreditation

CREDAI, IGBC,CII

Person over age 50 years are allowed to own and stay in the property.
Provide same standard of care in different cities through well thought out Standard Operating Procedures and a Manual on Quality Care.
Cater to the three stages of life of senior citizens namely, Independent Living Stage, Assisted Care Stage & Continuous Care Stage
Awarded the Most Eco Friendly Gated Community by the RAAC for the year 2008.
Future projects planned in Bangalore, Vizag, and Baroda

24X7 Security access


control
Medical centre and services
Assisted care centre
planned
Club house, Activity Centre
Open air theatre
Engagement activities

Project URL:

Geriatric gymnasium
Library& Business centre
Housekeeping catering
services
Convenience store
Travel tour & recreation
services
Banking and related services

http://www.covaiprop.com/senior_care.html

Developer Remarks
Our Comfort and Retirement Homes are like resorts, meant
to provide care and are not old age homes. The facilities of our
senior homes help senior citizens to live their life with respect &
dignity as well as freedom and independence.

24 On Point Senior Living Sector in India

Dignity Lifestyle
Mumbai

Project Size

25 acres

Number of Units

500 is the plan. Phase I has 62 cottages/rooms

Unit Typology

Single/Double room cottages

Ownership Model

Refundable +nonrefundable deposit fee model

Developer / Owner

Dignity Lifestyle Trust

Maintained by / Operated by

Dignity Lifestyle Trust

Member / Accreditation

AARP Global Network

Associate Member of AARP Global Network


One time Refundable and non refundable deposit with monthly charges
Medical Services Has in-house physician plus visiting specialists from Neral and Mumbai. Trained in-house psychologist and Social
Worker are present in campus
Dedicated guest houses being constructed
Medical: Nightingale
Scheme for the Chronically
Ill, OPD, Hydrotherapy
Security
House keeping
Engagement activities
Club house

Project URL:

Yoga gym hydrotherapy


Food festivals
Two lectures per week
Indoor games facility
Satsangs/ Bhajans

Developer Remarks
Dignity Foundation offers senior citizens opportunities to lead
an active life, both mentally and physically. It provides social
support to facilitate people over 5o to lead productive lives.
It runs active programmes that motivate and inspire senior
citizens, and help them achieve fulfillment in life

http://www.dignitylifestyle.org/

Golden Nest
Pune

Project Size

5 acres

Number of Units

51 (IL Units 51)

Unit Typology

Studio, 1 BHK

Ownership Model

Sale Model

Developer / Owner

Vascon Engineers and Manisha Constructions

Maintained by / Operated by

Golden Nest Marigold Trust

Punes very first commune designed for senior citizens


Golden Nest has an arrangement with Ruby Hall clinic wherein the residents in an emergency have special status
Special elderly friendly architectural features bathroom, shower seats and sliding doors for bathrooms
Golden Nest is maintained by the Golden Nest Marigold Trust, a Trust which has on board trustees nominated by Housing Development
Finance Corporation Ltd., Golden Nest Developers, and Nominated residents of Golden Nest

24 hour security
Concierge services
Medical room doctor on call
Physiotherapy room
Canteen and central kitchen
Housekeeping

Project URL:

Guest accommodation
Assisted living
Multipurpose hall: Games,
Meditation, Theatre
Library and computer room
Jogging/ Walking track

Developer Remarks
Golden Nest is a place after your own heart. A place to
belong. One that offers physical, mental and spiritual well
being. Full of vibrant life, an epitome of care and gracious
living. A place you can look forward to come home to, in every
sense of the word.

http://www.oasisseniorcommune.com/www.goldennestindia.com/home.asp.htm

On Point Senior Living Sector in India 25

New Upcoming Projects


Impact Senior Living
Amritsar

Project Size

5 acres

Number of Units

53 (IL Units - 48; NS Units - 5)

Unit Typology

Studio, 1 BR, 2/3 BR Penthouse

Ownership Model

Sale / Refundable deposit fee model

Developer / Owner

Impact Senior Living Estates Pvt Ltd (ISLE)

Maintained by / Operated by

Impact Senior Living Estates Pvt Ltd (ISLE)

Dual Model: Sale / Refundable lease deposit fee model.


Tie-up with Fortis to provide Healthcare services.
Religare to provide pathology support and full range of financial advisory services
Future Projects planned to come up in Raigarh, NCR and Chandigarh.

Healthcare services
Housekeeping services
Food and beverage
Transport
Laundry

Project URL:

Communication to next of kin


Physical wellness
Security systems
24x7 Power backup

Developer Remarks
Impact Senior Living Estates community is being designed to
provide a first class quality of life that incorporates the needs
of seniors in relation to the current challenges being faced by
this very important group, in our society.

http://www.isleind.com/index.htm

RakIndo Senior Living


Coimbatore

Project Size

10 Acres

Number of Units

250 units (varied product mix)

Unit Typology

1BHK, 2 BHK, 3BHK

Ownership Model

Pure lease, deposit fee model and sale model

Developer / Owner

Rakindo Developers Pvt. Ltd

Maintained by / Operated by

Under Planning

Pilot project with promoters personal healthcare background, and excellent past project delivery records.
The project will be cobranded with industry tie-up and partnerships.
Project is located within a larger integrated city infrastructure with array of services associated within a larger ecosystem
Cater to the three stages of life of senior citizens namely, Independent Living Stage, Assisted Care Stage & Continuous Care Stage
The project will be intergenerational with opportunities for seniors to get engaged within the larger development prospects and therefore
address both engagement as well as employment opportunities
Project expected to be launched by June 2012
Medical centre and services
24X7 Security access
control
Assisted care centre
planned
Club house, Activity Centre
Health & Fitness Center
Engagement activities

Project URL:

Geriatric gymnasium
Library& Business centre
Housekeeping catering
services
Convenience store
Meditation Center & Temple
Banking and related services

http://www.rakindo.com/projects_overview.aspx

Developer Remarks
A golf centric integrated township, set to be built on an
850 acre property thats host to hill ranges, an 18 hole
championship golf course, world villas and unparalleled luxury
amenities swamped by an abundance of nature

26 On Point Senior Living Sector in India

AVI Vintage Homes

Bangalore, Gurgaon, Kolkata, Visakhapatnam & Jaipur

Project Size

Various

Number of Units

Various

Unit Typology

Various

Ownership Model

Sale Model

Developer / Owner

Various

Maintained by / Operated by

Age Ventures India (AVI)

Member / Accreditation

Help Age India & MHA, UK

Projects by leading real estate developers operated and maintained by Age Ventures India
AVI is a private not-for-profit trust
HelpAge India, AVIs knowledge partners are leaders in the field of elderly acre and support in India
MHA is UKs leading care home specialists
As operators AVI provide for routine medical checkups and full care services for conditions like dementia and Alzheimer in their projects
Tie-ups and association with institutes of learning to provide intellectual continuity to the residents

24X7 Security
Emergency alarm systems
Medical Care
Dining facilities
Physiotherapy cum fitness
centre
Nursing care giving facility

Project URL:

Pharmacy arrangement
Housekeeping and
maintenance services

Operator Remarks
Come home to fresh new world

Yoga meditation rooms


Indoor outdoor games

http://www.ageventuresindia.org/?page_id=223

Anandam, Bahri Beautiful Country


Kodaikanal

Project Size

270 acres township (Bahri township)

Number of Units

198 Villas (Independent and Assisted Living)

Unit Typology

1, 2, 3 Bedroom Villa options

Ownership Model

Sale Model only

Developer / Owner

Bahri Estates Pvt Ltd

Maintained by / Operated by

Aamoksh One Eighty Hospitality Pvt Ltd

Part of larger 270 acres integrated township Bahri Beautiful Country


Project to managed by Aamoksh One Eight, one of the leading international retirement brand
Villa plot area between 232 Sq yards to 777 sq yards. Price ranging from INR 2,700,000 to INR 7,200,000
Bahri AVN Arogya Ayurvedic Hospital part of the project along with a proposed allopathic medical centre

24X7 Security
Emergency call buttons
Club House, Health Club
Dining area/ Restaurant, bar
Library, Amphitheatre
Activity rooms

Project URL:

Salon and Spa


Medical facilities
Indoor outdoor sports
Swimming pool, Golf
Ayurvedic Hospital
Concierge services

http://anandam.co/index.html

Developer Remarks
Anandam offers a five-star experience where you can create
your own lifestyle just the way YOU want it

On Point Senior Living Sector in India 27

Other Major Senior Living Projects Across India


Project

Group

Location

Number of
Units

Website

Aarogya
Kudumbam

Saradhambal
Educational and
Charitable Trust

Coimbatore

NA

http://www.aarogyakudumbam.org/Default.aspx

Active Senior
Lifestyle Township

CHD

Karnal, Mathura,
Bhiwadi, Rishikesh

Proposed

http://www.chddevelopers.com/residential-senioractivelifestyle-living.asp

Athashree (White
field)

Pranjapee

Bangalore

Under
Construction

http://www.pscl.in/

Athiti

Rachna
Construction

Nagpur

Proposed

http://www.rachanaconstructions.com/atithinagpurproject.html

Avanti Legacy Gritz


Gori & Associates
Horizon

Bangalore

NA

http://www.gritzhorizons.com/html/senior.html

Avanti Vista Gritz


Horizon

Gori & Associates

Bangalore

NA

http://www.gritzhorizons.com/html/senior.html

Blue Ridge

Pranjapee

Pune

Proposed

http://www.blueridge.in/residentials.htm

Bougainvillahermitage

Home and Estates

Goa

60

http://www.bougainvilla-hermitage.com/Introduction.html

Concorde Mist
Valley

Concorde Group

Bangalore

200
(Proposed)

http://www.concordegroup.in

Dignity Village

RDF, NSA

Chennai

NA

http://dignityvillage.nsaindia.in/partners.php

Evergreen Villas

Kingford Properties Mysore

Proposed

NA

Godhuli

Godhuli

Kolkata

18

http://www.godhuli.in/index.php

Golden Retreat

Palacio

Goa

32

http://www.palacio.in/goldenoverview.aspx

Kudumbum

Clasic

Chennai

98

http://www.kudumbam.com/

Logix Blossom
Greens

Kalra Realtor

Noida

NA

http://www.logixblossomgreensnoida.in/

Melur Meadow

Melur Meadow
Lifestyle

Coimbatore

30

http://www.melurmeadows.com

Ponni Delta

Natesan Housing

Trichy

250

http://www.ponnidelta.com/

Prabuddhalaya

VLN

Bangalore

NA

NA

Riverdale

NA

Cochin

50

http://www.riverdaleresorts.com/

Rosedale Garden

Sarachi housing

Kolkata

NA

http://www.rosedalenri.com/senior_citizen.htm

Shriram Senior
Living

Sriram

Bangalore

196

http://www.shriramproperties.com

Saket Pranam

Saket

Hyderabad

100

http://www.saketgroup.com/html/pranaam-the-project

Srimathi
Sundaravalli

NA

Chennai

239

http://www.ssmhome.in/

Supertech
Upcountry

Supertech

Greater Noida

Proposed

http://www.supertechlimited.com/

The Nest

Aakriti Group

Bhopal

Proposed

http://www.aakritithenest.com

Goa

Proposed

Proposed

Utopia
Vakil Housing/
Panchvati

Vakil

Bangalore

102

http://www.panchavati.co.in

Verandah Gardens

Infra Housing Pvt


Ltd

Cochin

132

http://www.infrahousing.com/

Source: Internet Research

Authors

28 On Point Senior Living Sector in India

Saumyajit Roy

Associate Director & Head of Social Infrastructure Practice - Strategic Consulting


saumyajit.roy@ap.jll.com
+91 97 1106 1506
Saumyajit Roy started the social infrastructure practice within Jones Lang LaSalle in 2009, and focuses on providing business expansion solutions to
clients in the senior housing, healthcare and education sectors. The team has been involved in market research and business plan development for 4
major upcoming senior living projects floated by premier developers/ corporate groups in India.
Saumyajit has over 10 years experience in the development planning sphere with a focus on adopting best practices in technology, processes and
data analytical tools towards urban development and management. He holds a Bachelors degree in Urban Planning from the School of Planning and
Architecture in 2000 and an MBA in finance and marketing from the Indian School of Business, Hyderabad.

Rita Mishra

Assistant Manager, Social Infrastructure Practice - Strategic Consulting


Rita.mishra@ap.jll.com
+91 95 9514 7471
Based out of Mumbai, Rita Mishra looks after Social Infrastructure Practice in the western region in India. She is responsible for advisory, transactions and
capital markets in education, healthcare and senior living sectors. Her role spans over business development, client management and project delivery in
these sectors. She came on board the social infrastructure practice team in August 2011 with a 3 year consulting background within JLL.
Ritas educational background lies in mathematics and software engineering during her graduation. She completed her Masters in Business Administration
in International Business & Marketing from the Indian Center for International Business, Pune.

Harshit Magon

Senior Executive, Social Infrastructure Practice - Strategic Consulting


Harshit.magon@ap.jll.com
+91 97 1137 6363
Harshit Magon joined Jones Lang LaSalles social infrastructure practice in October 2010 and has since then worked on projects across senior living,
healthcare and education sectors. Based out of Gurgaon, his role with in the team involves consulting and research work on multitude of projects
combining expertise in research, planning and urban design.
Harshit hold an undergraduate degree in Geography from Delhi University and a Masters degree accredited by Royal Institute of Chartered Surveyor
(RICS, UK) in Urban and Regional Planning from the London School of Economics, London.

Himadri Mayank

Assistant Vice President, Research & REIS


himadri.mayank@ap.jll.com
+91 22 3307 1500
Himadri Mayank manages the operations of Jones Lang LaSalles research offering Real Estate Intelligence Service (REIS), and is responsible for the
teams outputs, including research reports such as topical whitepapers. Since joining the firm in 2008, he has delivered several bespoke research projects
in the office, retail and residential sectors based on specific client requirements.
Himadri holds a bachelors degree from Indian Institute of Technology (IIT), Kharagpur and has over four years of experience in the field of real estate. He
is pursuing the Chartered Financial Analyst (CFA) program offered by CFA Institute, Charlottesville and has passed the 2011 Level III CFA exam. He is the
life member of Association for Promotion of Creative Learning, a not-for-profit organisation which aims to promote education for underprivileged through
creativity and creative learning in society.

Ashutosh Limaye

Head Research and REIS


ashutosh.limaye@ap.jll.com
+91 22 3307 1500
Ashutosh Limaye is responsible for overseeing research and REIS business of JLL. He is also responsible for effective business development, selection,
grooming and growth of professionals in the research division.
He has 14 years of experience, including one and half years of post graduation in planning with specialization in Urban Planning. His contributions
include real estate market intelligence and forecasting, formulations of economic and physical plans, assessments of policies, legislations and regulatory
mechanisms for delivery of infrastructure services, study of urban governance initiatives for urban management programmes, identification of appropriate
modes of private sector participation in infrastructure delivery for large-scale infrastructure and township projects in the urban context, financial cost-benefit
analyses, project formulation and appraisals, and urban land management.

On Point Senior Living Sector in India 29

About Jones Lang LaSalle

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