Senior living communities – The need of the hour, post the COVID-19 pandemic

[ecis2016.org] The senior living sector in India is poised for significant growth in the coming years as concerns about health and wellbeing take centre stage amid the Corona virus spread. There is a big shift in the mindset of the senior citizens. Seniors who were reluctant to stay in these communities are ready to relocate as their permanent residence. Children staying abroad and in other cities are actively searching for these communities for their parents who stay alone in their home town. This tectonic shift will change the entire outlook, structure and the future of this sector

The COVID-19 pandemic has fundamentally changed the world as we know it. Uncertainty is running high as individuals contemplate what this crisis means for them, for their families and friends, and society at large. The virus is reshaping all industries and the senior living sector has assumed much greater significance than ever before. This sector which was showing slow but steady growth in last few years is expected to gain momentum as concerns about health and wellbeing take centre stage amid the virus spread.

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Impact on senior citizens due to COVID-19

The senior citizens are most affected as they are more vulnerable to the virus due to their age. The seniors who are staying alone in the cities are facing major issues to the phased lockdowns and restrictions.

The problems faced by seniors due to current situation are:

• Day to day healthcare / Emergency healthcare
• Cooking, housekeeping and day to day work
• Day to day shopping of household goods
• Loneliness due to no socialisation
• Safety and security
• Not comfortable / equipped to use digital platforms and technologies

Senior citizens’ scenario in India

According to Population Census 2011 there are nearly 104 million (10.4 Cr) senior citizens in India. This is the total population of the UK and Canada put together. This number is expected to grow to 173 million (17.3 Crores) by 2026 and 300 million by 2050. 25 % of the senior population need some or the other medical care or attention. The elderly population is increasing due to increase in life expectancy. The life expectancy of India is 69 years as of now which was 55 years a few years back. This is further expected to increase due to advanced medical facilities, better economic conditions, new digital technologies and enhancement of lifestyle standards.

In the traditional model of care for senior citizens, it was the joint family structure along with the support of helpers that elderly used to be cared for.

However with the breakdown of joint family structure and corporate jobs for most couples, the elderly in a nuclear family has only the support of the helpers or medically trained attendants. With people shifting to other cities as well as foreign countries in search of better opportunities, most families now see the elderly parents left behind. Most of these elderly people live in a gated community but with very little social interaction. Their daily and medical needs are taken care of by themselves or helpers. But that needs constant follow-up with the people providing the services. Often this leads to an unpleasant situation and risks for the elderly people.

Concerns and needs of senior citizens

Healthcare – Geriatric problems

Geriatric problems are typical health problems faced by seniors. More than half of adults, age 65 and older have 3 or more medical problems. These are heart diseases, diabetes, arthritis, high blood pressure, joint pain and depression.

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Dementia – The most common problem

Dementia is a broad category of brain diseases that cause long term loss of the ability to think that is severe enough to affect a person’s daily functioning.

The most common form of dementia is Alzheimer disease.

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Healthcare – Physical disability due to age

• Vision Problems
• Hearing Problems
• Joint pain
• Other Physical Disability

Emotional

• Loneliness
• Lack of companionship (almost 30 % are single seniors)
• Children staying in other cities or abroad
• No socialization due to age
• Feeling neglected

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Security

• Crime against seniors
• Unsafe travels

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Day to day needs

• Day to day activities like cooking, shopping, housekeeping, laundry etc.

Senior living communities – The need of the hour

At a time when time is already ripe for the senior living concept to gain ground in India because of a variety of factors, the virus spread has simply given buyers a giant push towards making a move, by way of accentuating the need for secure residences and emergency care. Senior living communities specially designed for seniors and catering to overall wellbeing of senior citizens is a need of the hour in India. These communities take care of all concerns including healthcare, security, convenience and socialisation, restoring the dignity and and self respect of seniors. While the demand for senior living units is currently estimated at 5.6 lakh units, it is likely to hit 1.2 million homes by 2025.

Demand drivers

• Non-resident Indians coming back during their 50s.
• Elderly retired people in need of constant medical attention.
• People aspiring to enjoy a quality life during their sunset years.

Amenities seniors will be looking for in housing projects

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In the US, the lifespan of a senior citizen increases by five to seven years if they live in communities specifically meant for the elderly. To replicate that positive movement in India, developers catering to the elderly are paying attention to the fact that healthcare facilities, security, convenience and social interactions would be the top priority for buyers looking for property in this segment. Housing projects that act as a one-stop solution for the elderly will find favour among the investors, who would primarily start investing in such projects during their 50s. The demand for this segment is likely to come from MIG and HNI.

Housing projects that would find takers would have all of the below- mentioned facilities:

• 24×7 healthcare facilities
• Advanced security system
• Trained staff
• Easy accessibility to city centres
• Support for daily living
• Green, pollution free environment
• Recreational facilities and activities to socialize
• Dining options

While selecting a project, buyers would also go for the reliable brands present in this segment in order to avoid any kind of future troubles. Such players should walk the extra mile to customer a hassle-free buying experience. Since the majority of the demand is likely to come from the MIG, HNI and even NRI groups, projects would be judged based on the quality of the services. Traditional old-age homes that also equally imbibe the new-age concepts of autonomy and companionship could act as the perfect fit.

“The pandemic has exposed the already existing vulnerabilities faced by the elderly on a daily basis. They are entirely dependent on domestic help or medical caregivers to take care of their daily needs. As social distancing norms came into place, this segment was left stranded, facing unimaginable levels of discomfort. Senior Living Communities should be built and maintained in a way that such a situation never arises in the lifetime of an elderly person,” says Anubhav Jain, director, Group Silverglades who is developing a senior living community, Melia First Citizen, in the NCR.

Senior housing in India – The current state

Even though there has been an evident increase in the number of senior living projects in India since 2010, this segment has failed to take off, primarily because of the social stigma. As a result of this, there are only a handful of real estate developers that currently cater to this segment. While there are some projects that cater exclusively to the elderly, most housing projects dedicate a certain number of towers in a housing project towards senior living. So far, there have not been many developers in the country that have made any efforts to launch retirement communities that would take care of every need of people during the sunset years of their life.

Key players that have launched projects in this segment include Ashiana Group, Paranjape Schemes, Impact Senior Living Estate, Brindavan Senior Citizen Foundation, Silverglades Group, etc. The senior living industry is also expected to see the entry of a number of players as demands continues to grow in future. Currently, senior living projects are primarily located at the fringes of cities such as NCR region Coimbatore, Chennai, Bangalore, Pune, Kochi, Jaipur, Bhopal, Rishikesh and Mathura.

New models of senior living

Real estate developers such as Group Silverglades have already started to bring about a change as far as senior specific projects are concerned. A leading boutique real estate developer, the group has launched on Sohna Road, south of Gurgaon, India’s first smart and intelligent homes for senior citizens. A 17-acre residential complex, the project, named Melia First Citizen, at the one hand opens to a dramatic view of the Aravallis while on the other hand promises to provide residents smart assistance in managing their day to day life. The RERA registered project that is nearing completion not only offers senior citizens a multitude of in-house amenities and facilities, including  dining, housekeeping and recreational amenities, hobby rooms, a physiotherapy centre, high-dependence care rooms, housekeeping services, 24×7 access to nurse and ambulance. First Citizen is conceptualised by Age Ventures India, an experienced organisation in the senior care industry. Age Ventures India will also manage the facilities and amenities of the project through experienced and skilled team members. The Age Ventures India has also tied up with the Artemis hospital to provide its residents fast medical attention while it has also partnered with the GD Goenka University for shared learning opportunities for the seniors. Removed from the hustle-bustle of the crowded and polluted city life, the project, which offers homes in 1BHK and 2BHK configurations, also offers great connectivity to the crucial junctures of the city, including hospitals and the airport.

Join us for a webinar to know more about the senior living segment in India and to know more about the Melia Citizen First project. Click here to register for the webinar now.

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Source: https://ecis2016.org
Category: Lifestyle