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Factor in purchase price plus service costs in the retirement home

Exiting such a project may not be easy since such housing is open only to those above 55

Your vacation home in a tourist destination can fetch you rent

Before you buy an apartment within a project meant for senior citizens, ensure that the services are of a high standard

Namrata Kohli

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Bengaluru-based Gopalkrishna Vishwanath (aged 69), and his wife (aged 64), moved from their three-bedroom apartment into a two-bedroom apartment in Parkside Senior Living, Brigade Orchards, Devanahalli.

Says Vishwanath: “We convinced our children this is the best option so that they don’t have to worry about us constantly. We own the apartment and pay for the support services, which are excellent.”

Rising number of seniors

India adds about five-six million senior citizens to its population every year. Improved healthcare has led to life expectancy rising from 41.4 years in 1960 to 68.8 years in 2018. This “silver tsunami” has led to

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First Published: Jul 20 2023 | 7:14 PM IST

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