Retirement Communities- An Overview

 In my interactions with my peer group who have already retired or approaching retirement, I have found  that a growing concern common to many, is impending old age, with all its associated problems. Being well-travelled, and having led active, independent lives, they are hesitant to give up their independence and go and spend their twilight years with their children, who are leading busy lives either abroad or in some distant city within India.
It is within this scenario that the idea of moving into retirement communities is slowly catching on in India. According to a recently published report by the Confederation of Indian Industry (CII), India's senior population will treble from 104 million in 2011 to 300 million by 2050, which would account for 18% of the population by then. This highlights the need for more infrastructure and services to support this significant section of society. The same report also highlights the current gap between supply and demand for urban senior housing; there are approximately 20,000 dwelling units operational, under construction or in the planning phase, while the urban demand is for around 2.3 lakh units.
The concept of 'Senior Living'as we understand it today, has undergone a radical transformation from the traditional socially stigmatised concept of Óld Age Homes'. Today, Senior Living "Resorts" or Retirement Communities refer to housing for people over the age of 55, offering a plethora of services and social activities. By providing a range of basic support systems such as housekeeping services, mess facilities, concierge services etc.  residents are relieved of the humdrum, tiresome tasks of  running a household, while the various social and recreational facilities enable residents to be socially engaged with fellow residents.Most importantly, these communities also provide medical support and healthcare. The infrastructure typically includes senior-friendly design and features such as anti-skid tiling, emergency response systems, arthritis friendly fittings and elaborate security arrangements among others. Access to these facilities obviously comes at a cost- in the form of a high monthly maintenance fee. Therefore, most of these communities are targeted at the upper middle class, while there are also a few with ultra luxury amenities, targeted at those with deep pockets.
Within Senior living, there are different concepts such as Independent Living and Assisted Living. While the former refers to housing and communities for active seniors who are healthy and independent, assisted living is for seniors who require varied levels of support such as caregivers and nursing. Concepts like Continued Care Retirement Communities (CCRC) include both independent and assisted living, allowing residents to transition , should the need arise, within the same community.
Most senior living options allow for the purchase of housing units, though there is a rental model as well.
Some of the earliest senior living projects mushroomed in the southern states of Kerala, Andhra Pradesh and Tamil Nadu, spurred by the fact that the young working population in these states were migrating abroad, leaving behind ageing parents who required a proper support system. The concept has now moved from the traditional retirement hubs such as Coimbatore, Puducherry, Goa and Dehradun to suburban areas around major cities such as Delhi, Bengaluru, Chennai and Pune, which allow for more space and less cramped environs for large retirement projects.
While the earlier projects were largely stand -alone projects, a recent welcome trend has been for these senior housing projects to be a part of larger residential projects and townships, which offer superior facilities and amenities.Currently, it is estimated that there are close to 37 firms into senior living housing.
My foray into research on retirement communities initially began several years ago while searching online for some such facility for an ageing acquaintance who had no immediate family. The more I researched on the subject,  the more I got convinced that this was an idea whose time was right for India, where the breakup of the joint family system had robbed the elderly of the basic support system that earlier generations could depend on.
In the next post, I will provide some details about life at Serene Urbana - a retirement community in Bangalore where I am currently residing.  Subsequently, I shall briefly outline some of the other  senior living options that are being offered in various cities by the major players in this field .However, I wish to clarify that since this information is  based on what is available in the public domain, I cannot vouch for the authenticity of the details given.
I will welcome your feedback, and look forward to your suggestions on other 'senior relevant' topics that would interest you.