senior living sector in india

7/27/2019 Senior Living Sector in India

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Senior Living Sector in IndiaAn idea whose time has arrived!


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On Point Senior Living Sector in India


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Estimated that the population

above 60 years (60+) of age in

India will touch 240 millionby 2050

Elderly people in India todayTotal population of UK & Canada put together

98million

3.8%per annum

Growth rate (compared to

1.8% overall)

240millionby 2050

60+Fastest growing

demographic segment in

the world

12.6

Old Age Dependency Ratio

up from 10.6 in 1991 (60-

75% are dependent)

27million

Estimated seniors need

specialized medical care

CHALLENGE OR OPPORTUNITY?


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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 specic 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 rst 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

specic aspects of senior living.

Senior Housing Segment in a Global

ContextIncreasing 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 008 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 rst 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. billion worldwide seniors by 00.

Seniors need specialized housing catering to their needs. What

started in early 19th century in the USA to cater to housing forseniors 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 5 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 housingfor seniors as a specic 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

amongst urban households, who in the last 0 years have

witnessed a marked increase in nuclear families

1

, that families areno 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.

1As per the ndings by National Family Health Survey in 2005-06 (NFHS-3), every three out of ve households (about 63%) in India are nuclear.


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On Point Senior Living Sector in India 5

The Emerging Need for Senior

Housing in India Staying Ahead ofthe CurveAlthough 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 gure

will grow to 173 million by 2025, further increasing to about 240

million by 050. This marked increase in elderly population would

involve a change in an important sociological aspect, the old age

dependency ratio. Interestingly, by 050, 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 ).

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 signicant section of seniors

today are independent, nancially stable, well-travelled, socially

connected, and as a result have well developed thoughts of how

they want to spend t ime after retirement. There is, today, a larger

percentage of educated seniors than ever before in India (Figure ).

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.

Source: Census of India, NSSO Projections, JLL analysis

Figure 1: Projected Growth in Number of Seniors in India


76m7.4%

8m7.5%

98m8.2%

118m9.3%

1m10 .7%

173m1.%

0

00

00

600

800

1000

100

100

1600

001 006 011 016 01 06

Million

Rest of Populat ion Populat ion 60+

Figure 2: Increase in Literacy Amongst Seniors in India


19 8

9

58 61

1

66

75 77

0

0

0

60

80

100

1991 001 008

Female Urban Male UrbanRural Urban

0-10-1

0-2

0-3

0-4

50-5

60-6

70-7

80+ 2001 2006 2011 2021Figure 3: Population Pyramid - Elders Increasing with Time


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6 On Point Senior Living Sector in India

Addressing Needs of the Senior

PopulationBesides 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 nancial,

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

Figure 4: Needs of the Senior Population

physical disability, difculty 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.

SPIRITUAL EMOTIONAL

FINANCIAL INTELLECTUAL

ENVIRONMENTAL PHYSICAL

SOCIAL

Holistic

Living

Source: Jones Lang LaSalle Education, Healthcare and Senior Living

Figure 5: Needs of the Senior Population

Financial

Reduced source of

income

Legal

Government tax

machinery

Property maintenance

Practical

Crimes against seniors

Day to day bill payments

Day to day shoppingUnsafe travel

Emotional

Increase in loneliness

Loss of sense of security

Lack of companionshipChildren staying abroad

Healthcare

Dementia

Geriatric problems



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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 thepositioning from social stigma to an aspirational project to be in.

Affordability

Despite demand, senior living in India is far from a ourishing reality

owing to issues of affordability. Divided between diminishing nances

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 5,000

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, nancial products, legal support etc. There is a need to

bring in innovations in provisions related to reverse mortgage and

other nancial 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

FacilitiesAs 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 t 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 intoconsideration, 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

ooring 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 ofce 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 CareSkilled 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


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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.

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 benet 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.

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

Top 6 Age Related Changes

Hearing impairment

Failing vision

Osteoporosis & Arthritis

Diabetes & Hypertension

Cardiac disorders

Dementia in various forms

50-70 years

Active Adult, able to take

care of self and no serious

healthcare ailments.

Independent Living

1 Bed room

independent apartment or

villa / cottage

All common facilities

such as Club House,

Recreation, Health Club,

Social Activities, Continuing

Education, Eateries,

Business Conferencing,

Travel Tourism

Maintenance,

Housekeeping, Security,

Travel needs, Social needs

taken care of

Meant for 50+ population

only

65-75 years

Active Adult, but needing

some support systems during

the day

Assisted Living Spaces

Staff available for taking care in

dressing, bathing, reminders,

and other daily activities;

Assistance in non medical, non

nursing needs

Home like atmosphere, smaller

unit sizes

1 bed room with larger

toilet and a pantry

Comfortable support system

with stress on social aspects

Above 70 years

Need continuous medical

attention and care in a

homely environment

Above 50 years

Enter in an independent villa or

apartment and move to assisted

and nursing as you age

Skilled or Nursing Care Continuing Care Community

Equipped to address 24 hour

medical concerns

Near Medical environment for

maintaining elders needing

continuous care

Lesser unit sizes meant for

high degree of care

Interiors are friendly and

unlike typical hospital space

yet equipped like a nursing

facility

Ideal for short stay post

operation or injury also

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.

Figure 6: Levels of Care in Senior Housing Facilities


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Formats of Senior Housing FacilitiesSenior 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

Source: Jones Lang LaSalle Education, Healthcare

and Senior Living

Urban CityCentre

Formats

Small scale CCRCs, spread over 1-4

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 oor-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 anactive lifestyle. There is a heightened

sense of socialconnect, interaction and

security, since all the residents stay

close to each other.

Peri-UrbanFormats

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 oor-wise or spread out

or a mix of both.

Sub-UrbanFormats

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 ofdevelopment is seniors looking for larger

spaces. Low rise CCRCs offer large open

green spaces, are typically self sufcient

in all aspects amenities and healthcare

within the campus; and do not require the

residents to travel out of

the campus often.


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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.


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 difculties from an occupancy perspective.

Figure 8: Factors to Consider While Selecting a Location for Building a Senior Living Facility

HealthcareAccessibility

Social Ecosystem Connectivity Crime Rate Congestion Index

Spread, quality of and

access to healthcare

facilities from various

locations within each

corridor. Typically the

site should be within 0

0 minutes from a good

secondary and tertiary

care hospital.

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 trafc congestion,

lower density, lower

presence of polluting

industries etc for

locations within the

corridors have a positive

effect on selecting a

location for seniors.

Growth PerspectiveAesthetic

EcosystemLand Value

EducationEcosystem

EmploymentDestination

Expected growth in

terms of civic amenities

and infrastructure in a

particular corridor. Senior

residents will want tobenet from locating in

growth corridors and

take advantage of capital

appreciation.

Presence of well

maintained public parks,

roads, water bodies,

visual image of built form,

control of density, generalcleanliness etc found

within locations in each

corridor.

Lower land value (to

ensure affordability)

for locations within the

corridors can be a strong

attraction.

Spread, quality of and

access to educational

facilities play a role in

selection of a project. In

many cases, presenceof 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 stagewant to stay employed

even if it is part-time or

consultative employment.


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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:

TYPE 1 TYPE 2 TYPE 3 TYPE 4

Aspirational well-heeled empty

nester couple wanting a better

quality life

Aging retiree facing early or

advanced signs of constant

health care needs

Non Resident coming back from

outside India or from other state

Short term stay seniors wanting

to stay for 3 - 6 months a year

Offers suburban lifestyle

Couple would nd the concept

of campus life appealing

Values being part of peer

group of like-minded / similar

social strata

Willing to pay premium for

good project design and

proper brand

Seniors staying alone who

like the social campus likeenvironment

Appreciates long term

healthcare requirements

6% of seniors in India have

some form of dementia

Family not able to take good

care of senior on their limited

resources

Brings relief to second

generation from care giving

and still allows connect on

24/7 basis.

Values professional care

environment which is required

at this stage

Highly relevant where support

system is absent

All points of Type 1 customers

are valid for NRIs as well

Large customer segment in

Middle East, North America,

Europe and AUS

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

Travelling NRIs coming to

India on short stays due to

weather, visits, functions or

religious requirements.

Possible to also attract

foreigners to come to such

projects

Good way of having seniors

stay in the resort-like

ecosystem if care family is

travelling

Health & wellness stay

Rehabilitation & recuperation

stay

Figure 9: Types of Senior Living Occupants


Courtesy: Rakindo Senior Living | Coimbatore


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Assessing Demand for Senior Housing in IndiaIn 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)

High

Income*

Mid

Income

Low

Income

BOP

SEC A 15,81 16,168 17,838 1,90

SEC B 5,69 10,917 16,9 0,605

SEC C 1,8 6,159 1,09 37,436

SEC D 3,077 5,91 11,50 5,518

SEC E 90 6 ,06 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 lakhs)

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

Source Data: Indicus Analytics

Figure 10: Pan India Senior Living Demand Distribution of

Urban Households per SEC and Income Level

Figure 11: Pan India Senior Living Demand Distribution of Urban

Households per City Typology

High

Income

Mid

Income

Low

IncomeBOP

Tier 1 Cities 11,505 1,810 19,171 48,457

Tier Cities ,15 6,9 9,9 30,751

Tier Towns 10,561 19,570 ,156 105,6



High

Income

Mid

Income

Low

Income

BOP

North 6,5 9,0 1,60 0,9

East 3,774 6,687 10,951 ,66

Far East 16 15 773 ,66

West 8,8 1,8 18,56 1,18

South 6,89 10,407 16,745 60,5

Central 376 571 91 ,89



Figure 12: Pan India Senior Living Demand Distribution of

Urban Households per Regional Geography


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Figure 13: Pan India Demand for Senior Living Housing Units

75066, %

50511, 16% 64307, 1%

608, 1%

58487, 19%

SEC A SEC B SEC C SEC D SEC E

058, 16%

10, 2%

49387, 0%

33479, 6%

1051, 16%

SEC A SEC B SEC C SEC D SEC E

60, 8%

989, 1%

61556, 0%

18850, 59%

High Income Mi d Income Lower Mi d Income Low I ncome

85, 1%

5, 18%

47819, 6%

8961, %

High Income Mi d Income Lower Mi d Income Low Income

86, 5%

198, 16%

63287, 9%

Tier 1 C ities Tier Ci ties / Towns Ti er Towns

9565, %

111, 17%

105, 1%965, 1%

981, 27%

1877, 1%

North East Far East West South Central

By SEC Typology By SEC Typology (removing BOP)

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

By Tier of City By Regional Geography


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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 ve 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 CareHomes 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 gures 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

condence among the developers to launch niche projects. The charts (Figure 14 and 15) show market segmentation based on pricing, unitsizes and nancial model.

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


-Low Economy

INR 0 - 33 Lakh

-Medium Semi Luxury

INR 33 - 66 Lakh

-High Luxury

INR 66Lakh - 1 Crore

-

0

700sqft

-

700

100sqf

t

-

100

000sqft

Ashiana

Bhiwadi

GoldenNestPune

Ashiana Pune

Riverdale

Cochin

Clasic

Chennai

AthashriPune

Godhuli

Kolkata

CovaiComb

BrindavanComb

Dignity Chennai

Impact

Bahri

Kodaikanal

Amritsar

SizeofUn

it

Price of Unit

DignityMum

Size Range Price Range

Retirement Projects


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Top 10 Best Practices for success in

the Senior Living SectorAs 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 head-

start in delivering on the requirements of seniors. In the long run,

the differentiator for brands and their premium will be from how theservice 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:

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, nance, strategy

and experience in hospitality, healthcare or senior living will be

required for delivery.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

1.

2.

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

an operating partner.

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.

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.

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 nancing which

offer customers an opportunity to customize his nancing model

accordingly.

Design innovations, unit & project layout:Architectural aspects

such as anti-skid ooring, 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.

3.

4.

5.

6.

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

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

LowINR 0 - Lakh

MediumINR -66 Lakh

High1INR 66 Lakh - Crore

Sale

Deposit

Lease

AshianaBahri

Kodaikanal

Bahri

KodaikanalPune

RiverdaleCochin

DignityMum

AshianaBhiwadi

AshianaPune

AshianaPune

Golden NestPune

AshianaPune

AshianaBhiwadi

AshianaBhiwadi

ClasicChennai

Clasic Chennai

ClasicChennai

AthashriPune

AthashriPuneBrigade

Bglore

GodhuliKol

CovaiComb

CovaiComb

CovaiComb

BrindavanComb

BrindavanComb

DignityChennai

ImpactAmritsar

ImpactAmritsar

Apartment

Cottage

Studio/Rooms

VillaDuplex Villa, Simplex Villa

3 BHK 2 BHK 1 BHK

3 BHK 2 BHK

Rooms 1 Room


16/30


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.

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.

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 proles

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 IndiaGlobally, 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 themost popular model in the industry till the time more sophisticated

versions start getting accepted in the market. At the INR 10 0

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 0 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 bringsdown 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

7.

8.

9.

10.

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 nancial returns are viable but

will make the community come to fruition and increase price points

for further phases.


17/30


Disposal Model Advantages Disadvantages

Complete Sale Model

(Transfer of Title)

Social Acceptance: Since the underlying product

is residential real estate, complete sale model is

likely to nd higher acceptability in the market due to

freehold ownership of units by buyers.

Quick Financial Start: Complete sale model allows

the sale of stock and thus generation of revenueswhile 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 ofoad

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 ows.

Mortgage: Since the sale model allows transfer of

ownership to end users, the property can be used

by them for mortgage and collateral purposes. Thisenhances the customer preferences.

Financing: Since the title is transferred to buyer in a

sale model, it is easier for buyers to raise bank loan

and other forms of nancing.

Title Security: The proposed concept of senior

living community is targeted at the senior aged

population. Transfer of title offers them the security

that the investment will be automatically transferred

to their legal heirs after their demise.

Speculative Buyers: The proposed concept is

specically aimed at servicing end users who would

actually require staying in a senior living community.

It becomes difcult to distinguish between a

speculative buyer and a serious buyer in a complete

sale model. Introduction of penalties on the otherhand for occupancy may prevent sales.

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 alot on developers vision, expertise and commitment

to deliver in addition to normal real estate growth.

Transfer of ownership in a sale model doesnt

allow the developer to enjoy a share in capital

appreciation.

Lack of Control: Transfer of ownership to end

user dilutes the control of developer over the

project. Such control is quite signicant to maintain

processes, quality, uniformity and branding in a

project.

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 allowsthe exibility 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 benet from Capital

Appreciation: The model allows the developer toretain some percentage of the unit and therefore the

appreciation of the unit remains with the developer.

Low Returns: Since complete market value ofresidential 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 ows 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 ows and spread out

payments over the years leads to stretched payback

period from a nancial feasibility perspective.

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.

Capital Appreciation Benet: Complete ownership

of residential units allows the developer to enjoy

complete benets of capital appreciation in the value

of units.

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.

Further, there are no revenues in the form of

bookings or construction linked absorption plans

until the project is complete and delivered.

Figure 16: Financial Models and Disposal Mechanisms for Senior Living


18/30


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 full-

scale retirement projects. There is a period of wait and watch others expected for another 2 3 years.

Entry of corporate rms: The sector is expected to attract participation from corporate rms, which are currently active in healthcare,

hospitality, insurance, and other service related sectors. The current market has predominantly participation from rms 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 rst few projects launched by top corporate rms will generate large media andcustomer curiosity in the sector. Such projects, if clubbed with innovative nancial 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 conguration 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 classied 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 Road AheadThe senior living industry in India is poised for signicant 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 6 months in the senior living industry and presents its recommendations to enable the

industry achieve higher quality and satisfaction from its clients.


19/30


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 ofarchitecture, 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, stafng become critical elements in the non-

institutional, affordable model. Potential residents arenot 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)

Retirement villages are an established

industry in Australia and is a well-

accepted 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 nal 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

afuent 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


20/30


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 rst 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 CharlesAn Award Winning International

Senior Living Project

Site Area: 16 Acres

Total Built up area: 1,011,572 sqft

18 Apartments, villa units

50 independent living cottages

51 assisted living units

40 special care / dementia units

68 skilled nursing beds


21/30


map

JAMMU AND KASHMIR

HIMACHALPRADESH

Impact

Impact

Ashiana I AVI

Ansal API

Aakriti

Rachana

Covai I Saket

Covai I Classic I Dignity Village

Covai

Ponni Delta

Infra Housing I Riverdale

Covai I Brindavan I Rakindo

Athashree I Vakil I Covai I AVI I

Concorde I VLN I Sriram

Utopia | Palacio

Ashiana I Athashree I

Golden Nest

Dignity

Rosedale I AVI I

Godhuli

AVI I Covai

Bahri

Covai

Ashiana I AVI

PUNJAB

UTTRAKHAND

Kochi

Coimbatore

Jaipur

Bhopal

Nagpur

HARYANA

RAJASTHAN

UTTAR PRADESH

BIHAR

JHARKHAND

SIKKIM

WEST BENGAL

ORISSA

CHHATTISGARH

MAHARASHTRA

MADHYA PRADESHGUJARAT

ANDHRA PRADESHGOA

KARNATAKA

TAMIL NADU

KERALA

MEGHALAYA

ASSAM

ARUNACHAL PRADESH

NAGALAND

MANIPUR

MIZORAMTRIPURA

Mumbai

Bangalore

Hyderabad

Chennai

Pune

Delhi

Kolkata

EXISTING

PROPOSED

Senior Living Projects

in India



22/30


Ashiana Utsav Retirement ResortBhiwadi 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 Typology1,2,3 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/specicLocation.php?id=1&livserv_cs_id=9917173

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

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

AthashriPune

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 Whiteeld, Bangalore launched by the group.

24X7 Security

Medical aid on call

Club house

Open air auditoriumYoga-cum-meditation room

Shuttle bus service

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 seniorcitizens. Designed with meticulous detail to provide continuous

care, attention and a host of special services.

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


23/30


Brindavan Hill ViewCoimbatore

Project Size .5 acres

Number of Units 74

Unit Typology 1 BR, 1 BR Cottage, BR Cottage, 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 0 years, with possibility if further extension

Brindavan Senior Citizen Foundation is a not for prot, faith based community that fosters

integrity and growth

3 existing and one planned project in Coimbatore

Food services24X7 Security

Gym recreation facility

Library

Engagement activities

Transport and car parking

facility at reasonable cost

LaundryTie-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 Size20 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 Units306 villas (Coimbatore), 423 (Pondicherry), 220 ats (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,CIIPerson 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


Geriatric gymnasium

Library& Business centre

Housekeeping catering

services

Convenience storeTravel tour & recreation

services

Banking and related services

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.

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


24/30


Dignity LifestyleMumbai

Project Size 5 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


Club house

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 fulllment in life

Project URL: http://www.dignitylifestyle.org/

Golden NestPune

Project Size 5 acres

Number of Units 51 (IL Units 51)

Unit Typology Studio, 1 BHK


Developer / Owner Vascon Engineers and Manisha Constructions

Maintained by / Operated by Golden Nest Marigold Trust

Punes very rst 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

hour security

Concierge services

Medical room doctor on call

Physiotherapy room

Canteen and central kitchen

Housekeeping

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.

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


25/30


Impact Senior LivingAmritsar

Project Size 5 acresNumber 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 nancial advisory services

Future Projects planned to come up in Raigarh, NCR and Chandigarh.

Healthcare services

Housekeeping services

Food and beverage

Transport

Laundry

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 rst 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.

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

New Upcoming Projects

RakIndo Senior LivingCoimbatore

Project Size 10 Acres

Number of Units 50 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 CentreHealth & Fitness Center


Geriatric gymnasium

Library& Business centre

Housekeeping catering

services

Convenience store

Meditation Center & TempleBanking and related services

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

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


26/30


AVI Vintage HomesBangalore, Gurgaon, Kolkata, Visakhapatnam & Jaipur

Project Size Various

Number of Units Various

Unit Typology Various


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-prot trust

HelpAge India, AVIs knowledge partners are leaders in the eld 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 tness

centre

Nursing care giving facility

Pharmacy arrangement

Housekeeping and

maintenance services

Yoga meditation rooms

Indoor outdoor games

Operator Remarks

Come home to fresh new world

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

Anandam, Bahri Beautiful CountryKodaikanal

Project Size 270 acres township (Bahri township)

Number of Units 198 Villas (Independent and Assisted Living)

Unit Typology 1, , Bedroom Villa options

Ownership Model Sale Model only

Developer / Owner Bahri Estates Pvt Ltd

Maintained by / Operated by Aamoksh One Eighty Hospitality Pvt LtdPart 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

Salon and Spa

Medical facilities

Indoor outdoor sports

Swimming pool, Golf

Ayurvedic Hospital

Concierge services

Developer Remarks

Anandam offers a ve-star experience where you can create

your own lifestyle just the way YOU want it

Project URL: http://anandam.co/index.html


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Project Group LocationNumber of

UnitsWebsite

Aarogya

Kudumbam

SaradhambalEducational and

Charitable Trust

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

Active Senior

Lifestyle TownshipCHD

Karnal, Mathura,

Bhiwadi, RishikeshProposed

http://www.chddevelopers.com/residential-senior-

activelifestyle-living.asp

Athashree (White

eld)Pranjapee Bangalore

Under

Constructionhttp://www.pscl.in/

AthitiRachna

ConstructionNagpur Proposed

http://www.rachanaconstructions.com/atithi-

nagpurproject.html

Avanti Legacy Gritz

HorizonGori & Associates Bangalore NA http://www.gritzhorizons.com/html/senior.html

Avanti Vista GritzHorizon

Gori & Associates Bangalore NA http://www.gritzhorizons.com/html/senior.html

Blue Ridge Pranjapee Pune Proposed http://www.blueridge.in/residentials.htm

Bougainvilla-

hermitageHome and Estates Goa 60 http://www.bougainvilla-hermitage.com/Introduction.html

Concorde Mist

ValleyConcorde Group Bangalore

00

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

Kudumbum Clasic Chennai 98 http://www.kudumbam.com/

Logix Blossom

GreensKalra Realtor Noida NA http://www.logixblossomgreensnoida.in/

Melur MeadowMelur Meadow

LifestyleCoimbatore 0 http://www.melurmeadows.com

Ponni Delta Natesan Housing Trichy 50 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

SundaravalliNA Chennai 9 http://www.ssmhome.in/

Supertech

UpcountrySupertech Greater Noida Proposed http://www.supertechlimited.com/

The Nest Aakriti Group Bhopal Proposed http://www.aakritithenest.com

Utopia Goa Proposed Proposed

Vakil Housing/

PanchvatiVakil Bangalore 10 http://www.panchavati.co.in

Verandah Gardens Infra Housing PvtLtd

Cochin 1 http://www.infrahousing.com/

Other Major Senior Living Projects Across India

Source: Internet Research


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8 On Point Senior Living Sector in IndiaAuthors

Saumyajit RoyAssociate Director & Head of Social Infrastructure Practice - Strategic Consulting

[email protected]

+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

major upcoming senior living projects oated 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 nance and marketing from the Indian School of Business, Hyderabad.

Rita MishraAssistant Manager, Social Infrastructure Practice - Strategic Consulting

[email protected]

+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 MagonSenior Executive, Social Infrastructure Practice - Strategic Consulting

[email protected]

+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 MayankAssistant Vice President, Research & REIS

[email protected]

+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 rm in 2008, he has delivered several bespoke research projects

in the ofce, retail and residential sectors based on specic client requirements.

Himadri holds a bachelors degree from Indian Institute of Technology (IIT), Kharagpur and has over four years of experience in the eld 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-prot organisation which aims to promote education for underprivileged through

creativity and creative learning in society.

Ashutosh LimayeHead Research and REIS

[email protected]

+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, identication of appropriate

modes of private sector participation in infrastructure delivery for large-scale infrastructure and township projects in the urban context, nancial cost-benet

analyses, project formulation and appraisals, and urban land management.


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About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a nancial and professional services rm specializing in real estate. The rm offers integrated services delivered by

expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 010 global revenue of more than USD .9

billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate ofces. The rm is an industry

leader in property and corporate facility management services, with a portfolio of approximately

1.8 billion square feet worldwide. LaSalle Investment Management, the companys investment management business, is one of the worlds largest and most

diverse in real estate with USD 47.9 billion of assets under management.

Jones Lang LaSalle has over 50 years of experience in Asia Pacic, with over 20,800 employees operating in 77 ofces in 13 countries across the region.The rm was named the Best Property Consultancy in Asia Pacic at The Asia Pacic Property Awards 2011 in association with Bloomberg Television. For

further information, please visit our website, www.ap.joneslanglasalle.com

About Jones Lang LaSalle IndiaJones Lang LaSalle is Indias premier and largest professional services rm specializing in real estate. With an extensive geographic footprint across eleven

cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 4400,

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For further information, please visit www.joneslanglasalle.co.in

senior living sector in india

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