Sunil Malhotra (name changed), a retired banker, has been living with his wife in his New Delhi bungalow ever since his son moved to Australia two years ago. With the whole nation under lockdown earlier this year, it proved difficult for the old couple to manage most home chores. Since they also needed regular medical checkups due to geriatric issues, living in a bungalow was a handicap. This is the story of a large number of senior citizens who live independently. Since they need some extra care, a real estate segment devoted to their specific needs has been gaining popularity over the last few years.
Moreover, the COVID-19 crisis, which has made many realise the need for assisted-care homes, has increased the demand for this niche segment. However, the supply of such homes is quite limited with only 55 projects by top-12 players. It is no surprise then that Max India’s Antara Senior Living recently announced a ₹300 crore investment in this segment over the next four years. These senior living projects are expected to come up in Delhi-NCR, Mumbai, Pune, Hyderabad, Bengaluru and Chennai.
Amit Modi, Director, ABA Corp, and President (Elect), CREDAI Western UP, says the scale of migration of youth to metros and foreign countries for better education and job opportunities is rising. Joint families are already disintegrated into nuclear families, which makes the senior citizens crave for the right social circle. Also, they are vulnerable to crimes and health emergencies.
According to Rajit Mehta, CEO and MD of Antara, the pandemic has disrupted and created a new normal even for the senior care industry as all facilities had to be secured, appropriate interventions for mental health had to be introduced and new ways of engaging had to be thought through.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Gold ETFs And FoFs
While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.
PLANNING TO BUY CHILD INSURANCE? THINK TWICE
Child insurance plans combine insurance and investment but often offer low returns due to high costs, making a combination of a term insurance cover and mutual fund a better option for securing your child’s higher education needs
How Do You Define Happiness?
Money does buy happiness, but after a while, the appeal fades. We talk about our relationship with money, but, maybe, it’s time to revisit our relationship with happiness
Avoid Crypto As It Is Highly Volatile
I am 22 years old and have recently started working. I want to invest a small portion of money in cryptocurrency. How should I go about it? Does it require a huge capital investment?
Invest Right, Don't Speculate
The lure of high returns and quick gains from equity tips, cryptocurencies, and equity F&O can be enticing. But remember, return of capital is more important than return on capital
The Wedding & Budget: Is Minimalist Trend The Right Knot For You?
Indian weddings are known for their pomp and grandeur, but minimalist weddings are also in vogue now. Dia Mirza was one such celebrity who went for a minimalist wedding. If you also want to keep things minimal on your big day, here’s how to do it
Here's How To Buy An ETF?
Mutual funds are the preferred choice for retail investors. However, they come at a cost and fund management risk, apart from other risks. A smarter alternative is to invest through ETFs.
How Passive Funds Help Diversify
Passive funds provide a simple way to invest in broad markets as well as in specific themes and sectors, making them ideal for an investor's satellite portfolio
The Rise Of Passive Funds
The popularity of passive funds among retail investors has risen post Covid, and fund houses are out with many variations of ETFs and index funds. Does this category present a new opportunity for investors?
Tax Reforms: What's In Store?
The government is working on reforming the existing Income-tax Act, 1961. The impending reforms have raised many questions in the minds of taxpayers. Will the old regime and deductions be done away with? Will it really simplify your life? What's the need for these reforms? We try to answer these and other questions regarding tax reforms