Aging With Grace: Are Senior Living Homes Right For You?

Retirement communities in India are estimated to be valued at $9.75 bn, with 8% annual growth

- Shipra Singh

What comes to mind when you think of retirement? Old age, dependence on children, or relocating to a religious destination?

For Satish Malhotra and his wife Gulshan , the idea of retirement is anything but this. The couple always envisioned spending their golden years independently, away from the chaos of city life, while maintaining an active social life.

When Satish retired in 2007, his daughter proposed the idea of senior living communities, which prompted him to swiftly explore a project in Bhiwadi, a serene suburb on the outskirts of Delhi-NCR.

“It was still under-construction, but fulfilled all my requirements—spacious apartments and expansive green spaces within the complex. The added advantage being Bhiwadi is an hour’s drive from Delhi, where my children live, so visiting each other would be easy. In fact, I booked an apartment right on my first visit," said Satish, a retired engineer from the state electricity board in Rajasthan. He booked 3-bedroom, hall, and kitchen (3-bhk) apartment for ₹25 lakh, and eventually moved in after taking possession in 2012.

For Shalini Goyal and her husband Anil Kumar Lal, the decision to relocate to Ashiana Utsav, a residential community exclusively for individuals aged 55 and above, was straightforward. Shalini’s parents were residing in the complex since 2015. “During my visits to my parents, I grew fond of the quality of life here. Moreover, we desired to live near our family, and it aligned well since my parents own a house within the complex, and my sisters reside in Delhi and Gurgaon." The Goyals bought a 1,480 sq ft 3-bhk unit for ₹50 lakh in 2017.