28 Jun, 2013
Retirement homes in vogue as Indians live longer and prosper – Indian Express
The 180-unit development in Pune, which enjoys better weather and less bustle than nearby Mumbai, overlooks open fields and hills and is set in lush gardens – an appealing escape from the crowds and grime of India’s mega-cities.
Retirement communities like this one are just beginning to gain traction in India, where the multi-generational “joint family” structure endures despite rampant modernisation. The concept of housing for the elderly still carries a social stigma in the country, which accounts for less than 1 percent of the $25 billion senior housing industry worldwide.
But rising incomes, longer life expectancy and the rise of nuclear families as more people relocate for jobs are driving demand for retirement homes in Asia’s third-largest economy, and attracting developers and investors.
Read the rest: Retirement homes in vogue as Indians live longer and prosper – Indian Express.
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