Shako BpOnPoint - Senior - Living - Jones Lang Lasalle

Senior Living Sector in India
An idea whose time has arrived!
On Point Senior Living Sector in India
98
million
Elderly people in India today
Total population of UK & Canada put together
240
million
by 2050
3.8%
per annum
Growth rate (compared to
1.8% overall)
12.6
Estimated that the population

above 60 years (60+) of age in
India will touch 240 million
by 2050
Old Age Dependency Ratio

up from 10.6 in 1991 (6075% are dependent)
60+
27
million
Fastest growing
demographic segment in
the world
Estimated seniors need

specialized medical care
CHALLENGE OR OPPORTUNITY?
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 specific 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 first 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
specific aspects of senior living.
Senior Housing Segment in a Global

Context
Increasing 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 2008 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 first 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
1.3 billion worldwide seniors by 2040.
amongst urban households, who in the last 20 years have

witnessed a marked increase in nuclear families1, that families are
no 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.
Seniors need specialized housing catering to their needs. What

started in early 19th century in the USA to cater to housing for
seniors 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 25 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 housing
for seniors as a specific 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
1
As per the findings by National Family Health Survey in 2005-06 (NFHS-3), every three out of five households (about 63%) in India are nuclear.
Although 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 figure
will grow to 173 million by 2025, further increasing to about 240
million by 2050. This marked increase in elderly population would
involve a change in an important sociological aspect, the old age
dependency ratio. Interestingly, by 2050, 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 3).
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 significant section of seniors
today are independent, financially stable, well-travelled, socially
connected, and as a result have well developed thoughts of how
they want to spend time after retirement. There is, today, a larger
percentage of educated seniors than ever before in India (Figure 2).
Figure 1: Projected Growth in Number of Seniors in India

1600
100
76m
7.4%
8m
7.5%
98m
8.2%
118m
9.3%
1m
10.7%
173m
1.%
001
006
011
016
01
06
100
Million
The Emerging Need for Senior

Housing in India Staying Ahead of
the Curve
1000
800
600
00
00
0
Rest of Population
Population 60+
Source: Census of India, NSSO Projections, JLL analysis
Figure 2: Increase in Literacy Amongst Seniors in India

100
80
66
60
0
77
75
61
58
9

1
1
9
8
0
0
1991
001
Rural
Urban
008
Female Urban
Male Urban
Figure 3: Population Pyramid - Elders Increasing with Time

80+
2001
2006
2011
2021
70-7
60-6
50-5
0-4
0-3
0-2
10-1
0-
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.
Addressing Needs of the Senior

Population
Figure 4: Needs of the Senior Population
Besides 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 financial,
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
SPIRITUAL
FINANCIAL
EMOTIONAL
Holistic
Living
ENVIRONMENTAL
INTELLECTUAL
PHYSICAL
SOCIAL
Source: Jones Lang LaSalle Education, Healthcare and Senior Living
physical disability, difficulty 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.
Figure 5: Needs of the Senior Population
Financial
Reduced source of
income
Legal
Practical
Emotional
Healthcare
Government tax
machinery
Crimes against seniors
Increase in loneliness
Dementia
Property maintenance
Day to day bill payments
Loss of sense of security
Geriatric problems
Day to day shopping
Lack of companionship
Unsafe travel
Children staying abroad
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 the
positioning from social stigma to an aspirational project to be in.
Affordability
Despite demand, senior living in India is far from a flourishing reality
owing to issues of affordability. Divided between diminishing finances
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 25,000
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, financial products, legal support etc. There is a need to
bring in innovations in provisions related to reverse mortgage and
other financial 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

Facilities
As 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 fit 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 into
consideration, 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
flooring 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 office 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 Care

Skilled 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
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.
Top 6 Age Related Changes

Hearing impairment
Failing vision
Osteoporosis & Arthritis
Diabetes & Hypertension
Cardiac disorders
Dementia in various forms
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 benefit 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.
Figure 6: Levels of Care in Senior Housing Facilities
50-70 years
65-75 years
Above 70 years
Active Adult, able to take

care of self and no serious
healthcare ailments.
Active Adult, but needing

some support systems during
the day
Need continuous medical

attention and care in a
homely environment
Enter in an independent villa or

apartment and move to assisted
and nursing as you age
Independent Living
Assisted Living Spaces
Skilled or Nursing Care
Continuing Care Community
1 3 Bed room
independent apartment or
villa / cottage
Staff available for taking care in

dressing, bathing, reminders,
and other daily activities;
Equipped to address 24 hour

medical concerns
All common facilities

such as Club House,
Recreation, Health Club,
Social Activities, Continuing
Education, Eateries,
Business Conferencing,
Travel Tourism
Assistance in non medical, non

nursing needs
Near Medical environment for

maintaining elders needing
continuous care
Home like atmosphere, smaller

unit sizes
Lesser unit sizes meant for

high degree of care
1 2 bed room with larger

toilet and a pantry
Interiors are friendly and

unlike typical hospital space
yet equipped like a nursing
facility
Maintenance,
Housekeeping, Security,
Travel needs, Social needs
taken care of
Comfortable support system

with stress on social aspects
Ideal for short stay post

operation or injury also
Above 50 years
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.
Meant for 50+ population

only
Note: Most projects in India currently are Independent Living projects whereas continuing care communities are a global trend
Formats of Senior Housing Facilities
Senior 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
Urban City
Centre
Formats
Peri-Urban
Formats
Small scale CCRCs, spread over 1-4
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 floor-wise or spread out
or a mix of both.
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 floor-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 an
active lifestyle. There is a heightened
sense of socialconnect, interaction and
security, since all the residents stay
close to each other.
Source: Jones Lang LaSalle Education, Healthcare

and Senior Living
Sub-Urban
Formats
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 of
development is seniors looking for larger
spaces. Low rise CCRCs offer large open
green spaces, are typically self sufficient
in all aspects amenities and healthcare
within the campus; and do not require the
residents to travel out of
the campus often.
10 On Point Senior Living Sector in India
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.
Figure 8: Factors to Consider While Selecting a Location for Building a Senior Living Facility
Healthcare
Accessibility
Spread, quality of and

access to healthcare
facilities from various
locations within each
corridor. Typically the
site should be within 20
30 minutes from a good
secondary and tertiary
care hospital.
Growth Perspective
Social Ecosystem
Connectivity
Crime Rate
Congestion Index
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 traffic congestion,

lower density, lower
presence of polluting
industries etc for
locations within the
corridors have a positive
effect on selecting a
location for seniors.
Education
Ecosystem
Employment
Destination
Spread, quality of and

access to educational
facilities play a role in
selection of a project. In
many cases, presence
of 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 stage
want to stay employed
even if it is part-time or
consultative employment.
Aesthetic
Ecosystem
Expected growth in
Presence of well
terms of civic amenities
maintained public parks,
and infrastructure in a
roads, water bodies,
particular corridor. Senior visual image of built form,
residents will want to
control of density, general
benefit from locating in
cleanliness etc found
growth corridors and
within locations in each
take advantage of capital
corridor.
appreciation.
Land Value
Lower land value (to

ensure affordability)
for locations within the
corridors can be a strong
attraction.
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 difficulties from an occupancy perspective.
On Point Senior Living Sector in India 11
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:
Figure 9: Types of Senior Living Occupants
TYPE 1
Aspirational well-heeled empty
nester couple wanting a better
quality life
TYPE 2
Aging retiree facing early or
advanced signs of constant
health care needs
Offers suburban lifestyle
6% of seniors in India have

some form of dementia
Couple would find the concept
of campus life appealing
Family not able to take good
care of senior on their limited
Values being part of peer
resources
group of like-minded / similar
social strata
Willing to pay premium for
good project design and
proper brand
Brings relief to second

generation from care giving
and still allows connect on
24/7 basis.
Seniors staying alone who

like the social campus like
environment
Values professional care

environment which is required
at this stage
Appreciates long term

healthcare requirements
Highly relevant where support

system is absent
TYPE 3
TYPE 4
Non Resident coming back from

outside India or from other state
Short term stay seniors wanting

to stay for 3 - 6 months a year
All points of Type 1 customers

are valid for NRIs as well
Travelling NRIs coming to

India on short stays due to
weather, visits, functions or
religious requirements.
Large customer segment in

Middle East, North America,
Europe and AUS
Possible to also attract

foreigners to come to such
projects
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
Good way of having seniors

stay in the resort-like
ecosystem if care family is
travelling
Health & wellness stay
Rehabilitation & recuperation
stay
Courtesy: Rakindo Senior Living | Coimbatore
Assessing Demand for Senior Housing in India
In 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)
Figure 10: Pan India Senior Living Demand Distribution of
Urban Households per SEC and Income Level
High
Income*
Mid
Income
Low
Income
BOP
SEC A
15,381
16,168
17,838
14,920
SEC B
5,629
10,917
16,933
30,605
SEC C
1,843
6,159
13,049
37,436
SEC D
3,077
5,941
11,530
54,518
SEC E
290
643
2,206
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 3 lakhs)
Source: Jones Lang LaSalle Education, Healthcare and Senior Living, 2011
Source Data: Indicus Analytics
Figure 11: Pan India Senior Living Demand Distribution of Urban

Households per City Typology
High
Income
Mid
Income
Low
Income
BOP
Tier 1 Cities
11,505
13,810
19,171
48,457
Tier 2 Cities
4,154
6,449
9,229
30,751
Tier 3 Towns
10,561
19,570
33,156
105,643
Figure 12: Pan India Senior Living Demand Distribution of

Urban Households per Regional Geography
High
Income
Mid
Income
Low
Income
BOP
North
6,544
9,402
13,620
40,934
East
3,774
6,687
10,951
34,636
Far East
216
415
773
2,636
West
8,482
12,348
18,536
41,218
South
6,829
10,407
16,745
60,533
Central
376
571
931
4,892
Figure 13: Pan India Demand for Senior Living Housing Units
By SEC Typology
By SEC Typology (removing BOP)
10, 2%
50511, 16%
64307, 1%
75066, %
608, 1%
1051, 16%
58487, 19%
SEC A
SEC B
49387, 0%
058, 16%
33479, 6%
SEC C
SEC D
SEC E
SEC A
By Product Typology
SEC B
SEC C
SEC D
SEC E
By Product Typology (Only SEC A, B & C)
60, 8%
85, 1%
989, 1%
5, 18%
8961, %
18850, 59%
61556, 0%
47819, 6%
High Income
Mid Income
Lower Mid Income
Low Income
High Income
By Tier of City
Mid Income
Lower Mid Income
Low Income
By Regional Geography
1877, 1%
9565, %
981, 27%
86, 5%
63287, 9%
111, 17%
198, 16%
Tier 1 Cities
Tier Cities / Towns
Tier Towns
965, 1%
North
East
105, 1%
Far East
West
South
Central
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 five 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 Care
Homes 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 figures 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
confidence among the developers to launch niche projects. The charts (Figure 14 and 15) show market segmentation based on pricing, unit
sizes and financial model.
Ashiana Pune
Ashiana
Bhiwadi
700 -100 sq ft
0 -700 sq ft
Size of Unit
100 - 000 sq ft
Figure 14: Senior Housing Projects in India with Offered Unit Sizes and Pricing
Covai
Comb
Retirement Projects
Impact
Amritsar
Bahri
Kodaikanal
Size Range
Athashri
Pune
Clasic
Brindavan Comb
Chennai Dignity
Mum
Dignity Chennai
Riverdale
Cochin
Golden
Nest
Pune
Godhuli
Kolkata
Low - Economy
INR 0 - 33 Lakh
Medium - Semi Luxury

INR 33 - 66 Lakh
Price of Unit
High - Luxury
INR 66Lakh - 1 Crore
Price Range
Lease
Figure 15: Senior Housing Projects in India with Offered Typologies, Pricing and Disposal Models
Covai
Comb
Villa
Deposit
Clasic
Chennai
Duplex Villa, Simplex Villa
Dignity Brindavan
Comb
Godhuli Mum
Kol
Dignity
Chennai
Clasic Chennai
Riverdale
Cochin
Brindavan
Comb
Sale
Clasic
Chennai
Ashiana Brigade
Bhiwadi Bglore
Athashri
Ashiana
Pune
Pune
Low
INR 0 - Lakh
3 BHK
Impact
Amritsar
Ashiana
Bhiwadi
Ashiana
Bhiwadi
Apartment
Impact
Amritsar
Ashiana
Pune
Covai
Comb
Bahri
Kodaikanal Ashiana
Pune
Athashri
Covai
Pune
Comb
Bahri
Kodaikanal
Ashiana
Pune
3 BHK
2 BHK
Cottage
2 BHK
1 BHK
Studio/Rooms
Rooms
1 Room
Golden Nest
Pune
Medium
INR - 66 Lakh
High
INR 66 Lakh -1 Crore
Source: Jones Lang LaSalle Education, Healthcare and Senior Living, 2011. Note: Mum is Mumbai, Comb is Coimbatore and Kol is Kolkata
Top 10 Best Practices for success in

the Senior Living Sector
As 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 headstart in delivering on the requirements of seniors. In the long run,
the differentiator for brands and their premium will be from how the
service 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:
1. 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, finance, strategy
and experience in hospitality, healthcare or senior living will be
required for delivery.
2. 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
tie up with an experienced entity either as a knowledge partner or

an operating partner.
3. 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.
4. 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.
5. 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 financing which
offer customers an opportunity to customize his financing model
accordingly.
6. Design innovations, unit & project layout: Architectural aspects
such as anti-skid flooring, 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.
7. 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.
8. 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.
9. 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 profiles
10. 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 India
Globally, 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 the
most popular model in the industry till the time more sophisticated
versions start getting accepted in the market. At the INR 10 20
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 20 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 brings
down 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
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 financial returns are viable but
will make the community come to fruition and increase price points
for further phases.
Figure 16: Financial Models and Disposal Mechanisms for Senior Living
Disposal Model
Complete Sale Model
(Transfer of Title)
Advantages
Disadvantages
Social Acceptance: Since the underlying product

Speculative Buyers: The proposed concept is
is residential real estate, complete sale model is
specifically aimed at servicing end users who would
likely to find higher acceptability in the market due to
actually require staying in a senior living community.
freehold ownership of units by buyers.
It becomes difficult to distinguish between a
speculative buyer and a serious buyer in a complete
Quick Financial Start: Complete sale model allows
sale model. Introduction of penalties on the other
the sale of stock and thus generation of revenues
hand for occupancy may prevent sales.
while 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 offload

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 flows.
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 a
lot on developers vision, expertise and commitment
to deliver in addition to normal real estate growth.
Financing: Since the title is transferred to buyer in a
Transfer of ownership in a sale model doesnt
sale model, it is easier for buyers to raise bank loan
allow the developer to enjoy a share in capital
and other forms of financing.
appreciation.
Title Security: The proposed concept of senior
Lack of Control: Transfer of ownership to end
living community is targeted at the senior aged
user dilutes the control of developer over the
population. Transfer of title offers them the security
project. Such control is quite significant to maintain
that the investment will be automatically transferred
processes, quality, uniformity and branding in a
to their legal heirs after their demise.
project.
Mortgage: Since the sale model allows transfer of
ownership to end users, the property can be used
by them for mortgage and collateral purposes. This
enhances the customer preferences.
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 allows

the flexibility 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 benefit from Capital
Appreciation: The model allows the developer to
retain some percentage of the unit and therefore the
appreciation of the unit remains with the developer.
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.
Low Returns: Since complete market value of

residential 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 flows 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 flows and spread out
payments over the years leads to stretched payback
period from a financial feasibility perspective.
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.
Capital Appreciation Benefit: Complete ownership
Further, there are no revenues in the form of
of residential units allows the developer to enjoy
bookings or construction linked absorption plans
complete benefits of capital appreciation in the value
until the project is complete and delivered.
of units.
The Road Ahead
The senior living industry in India is poised for significant 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 24 36 months in the senior living industry and presents its recommendations to enable the
industry achieve higher quality and satisfaction from its clients.
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 fullscale retirement projects. There is a period of wait and watch others expected for another 2 3 years.
Entry of corporate firms: The sector is expected to attract participation from corporate firms, which are currently active in healthcare,
hospitality, insurance, and other service related sectors. The current market has predominantly participation from firms 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 first few projects launched by top corporate firms will generate large media and
customer curiosity in the sector. Such projects, if clubbed with innovative financial 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 configuration 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 classified 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 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 of
architecture, 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, staffing become critical elements in the noninstitutional, affordable model. Potential residents are
not 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 wellaccepted 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 final 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
affluent 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
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 first 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 Charles

An Award Winning International
Senior Living Project
Site Area: 162 Acres
Total Built up area: 1,011,572 sqft
182 Apartments, 24 villa units
50 independent living cottages
51 assisted living units
40 special care / dementia units
268 skilled nursing beds
JAMMU AND KASHMIR
Senior Living Projects

in India
HIMACHAL
PRADESH
Impact
Impact
PUNJAB
UTTRAKHAND
HARYANA
Delhi Ashiana I AVI
ARUNACHAL PRADESH
SIKKIM
RAJASTHAN
Ashiana I AVI
Jaipur
UTTAR PRADESH
Ansal API
map
ASSAM
NAGALAND
MEGHALAYA
BIHAR
MANIPUR
Aakriti
Bhopal
CHHATTISGARH
Rachana
MIZORAM
WEST BENGAL
MADHYA PRADESH
GUJARAT
TRIPURA
JHARKHAND
Nagpur
Kolkata
Rosedale I AVI I
Godhuli
ORISSA
MAHARASHTRA
Mumbai
Dignity
Pune
Ashiana I Athashree I
Golden Nest
Hyderabad
AVI I Covai
Covai I Saket
EXISTING
Utopia | Palacio
GOA
ANDHRA PRADESH
KARNATAKA
Athashree I Vakil I Covai I AVI I
Concorde I VLN I Sriram
Bangalore
Bahri
Chennai
Covai I Classic I Dignity Village
Covai
Covai I Brindavan I Rakindo
PROPOSED
Covai
Coimbatore
Ponni Delta
TAMIL NADU
Kochi
Infra Housing I Riverdale
KERALA
Ashiana Utsav Retirement Resort

Bhiwadi 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 Typology
1,2,3 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/specificLocation.php?id=1&livserv_cs_id=9917173

Lavasa http://www.ashianautsav.com/specificLocation.php?id=3&livserv_cs_id=9917173
Jaipur http://www.ashianautsav.com/specificLocation.php?id=2&livserv_cs_id=9917173
Athashri
Pune
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
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 Whitefield, Bangalore launched by the group.
24X7 Security
Medical aid on call
Club house
Open air auditorium
Yoga-cum-meditation room
Shuttle bus service
Project URL:
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 senior
citizens. Designed with meticulous detail to provide continuous
care, attention and a host of special services.
http://pscl.in/real_estate/Project/Pune/Athashri%20Baner/overview
Brindavan Hill View

Coimbatore
Project Size
3.5 acres
Number of Units
74
Unit Typology
1 BR, 1 BR Cottage, 2 BR Cottage, 3 BR Cottage
Ownership Model
Refundable deposit fee model
Developer / Owner
Brindavan Senior Citizen Foundation (BSCF)
Brindavan Senior Citizen Foundation (BSCF)
Refundable deposit fee model. No sale of units.

The accommodation provided is on lease for 20 years, with possibility if further extension
Brindavan Senior Citizen Foundation is a not for profit, faith based community that fosters
integrity and growth
3 existing and one planned project in Coimbatore
Food services
24X7 Security
Gym recreation facility
Library
Engagement activities
Transport and car parking
facility at reasonable cost
Laundry
Tie-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 Size
20 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 Units
306 villas (Coimbatore), 423 (Pondicherry), 220 flats (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
Serene Senior Care Private Limited
CREDAI, IGBC,CII
Person 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
Project URL:
Geriatric gymnasium
Library& Business centre
Housekeeping catering
services
Convenience store
Travel tour & recreation
services
Banking and related services
http://www.covaiprop.com/senior_care.html
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.
Dignity Lifestyle
Mumbai
Project Size
25 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
Dignity Lifestyle Trust
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
Project URL:
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 fulfillment in life
http://www.dignitylifestyle.org/
Golden Nest
Pune
Project Size
5 acres
Number of Units
51 (IL Units 51)
Unit Typology
Studio, 1 BHK
Ownership Model
Sale Model
Developer / Owner
Vascon Engineers and Manisha Constructions
Golden Nest Marigold Trust
Punes very first 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
24 hour security
Concierge services
Medical room doctor on call
Physiotherapy room
Canteen and central kitchen
Housekeeping
Project URL:
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.
http://www.oasisseniorcommune.com/www.goldennestindia.com/home.asp.htm
New Upcoming Projects

Impact Senior Living
Amritsar
Project Size
5 acres
Number 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)
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 financial advisory services
Future Projects planned to come up in Raigarh, NCR and Chandigarh.
Healthcare services
Housekeeping services
Food and beverage
Transport
Laundry
Project URL:
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 first 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.
http://www.isleind.com/index.htm
RakIndo Senior Living

Coimbatore
Project Size
10 Acres
Number of Units
250 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
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 Centre
Health & Fitness Center
Project URL:
Geriatric gymnasium
Library& Business centre
Housekeeping catering
services
Convenience store
Meditation Center & Temple
Banking and related services
http://www.rakindo.com/projects_overview.aspx
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
AVI Vintage Homes
Bangalore, Gurgaon, Kolkata, Visakhapatnam & Jaipur
Project Size
Various
Number of Units
Various
Unit Typology
Various
Ownership Model
Sale Model
Developer / Owner
Various
Age Ventures India (AVI)
Help Age India & MHA, UK
Projects by leading real estate developers operated and maintained by Age Ventures India
AVI is a private not-for-profit trust
HelpAge India, AVIs knowledge partners are leaders in the field 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 fitness
centre
Nursing care giving facility
Project URL:
Pharmacy arrangement
Housekeeping and
maintenance services
Operator Remarks
Come home to fresh new world
Yoga meditation rooms

Indoor outdoor games
http://www.ageventuresindia.org/?page_id=223
Anandam, Bahri Beautiful Country

Kodaikanal
Project Size
270 acres township (Bahri township)
Number of Units
198 Villas (Independent and Assisted Living)
Unit Typology
1, 2, 3 Bedroom Villa options
Ownership Model
Sale Model only
Developer / Owner
Bahri Estates Pvt Ltd
Aamoksh One Eighty Hospitality Pvt Ltd
Part 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
Project URL:
Salon and Spa

Medical facilities
Indoor outdoor sports
Swimming pool, Golf
Ayurvedic Hospital
Concierge services
http://anandam.co/index.html
Developer Remarks
Anandam offers a five-star experience where you can create
your own lifestyle just the way YOU want it
Other Major Senior Living Projects Across India

Project
Group
Location
Number of
Units
Website
Aarogya
Kudumbam
Saradhambal
Educational and
Charitable Trust
Coimbatore
NA
http://www.aarogyakudumbam.org/Default.aspx
Active Senior
Lifestyle Township
CHD
Karnal, Mathura,
Bhiwadi, Rishikesh
Proposed
http://www.chddevelopers.com/residential-senioractivelifestyle-living.asp
Athashree (White
field)
Pranjapee
Bangalore
Under
Construction
http://www.pscl.in/
Athiti
Rachna
Construction
Nagpur
Proposed
http://www.rachanaconstructions.com/atithinagpurproject.html
Avanti Legacy Gritz

Gori & Associates
Horizon
Bangalore
NA
http://www.gritzhorizons.com/html/senior.html
Avanti Vista Gritz

Horizon
Gori & Associates
Bangalore
NA
http://www.gritzhorizons.com/html/senior.html
Blue Ridge
Pranjapee
Pune
Proposed
http://www.blueridge.in/residentials.htm
Bougainvillahermitage
Home and Estates
Goa
60
http://www.bougainvilla-hermitage.com/Introduction.html
Concorde Mist
Valley
Concorde Group
Bangalore
200
(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
32
http://www.palacio.in/goldenoverview.aspx
Kudumbum
Clasic
Chennai
98
http://www.kudumbam.com/
Logix Blossom
Greens
Kalra Realtor
Noida
NA
http://www.logixblossomgreensnoida.in/
Melur Meadow
Melur Meadow
Lifestyle
Coimbatore
30
http://www.melurmeadows.com
Ponni Delta
Natesan Housing
Trichy
250
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
Sundaravalli
NA
Chennai
239
http://www.ssmhome.in/
Supertech
Upcountry
Supertech
Greater Noida
Proposed
http://www.supertechlimited.com/
The Nest
Aakriti Group
Bhopal
Proposed
http://www.aakritithenest.com
Goa
Proposed
Proposed
Utopia
Vakil Housing/
Panchvati
Vakil
Bangalore
102
http://www.panchavati.co.in
Verandah Gardens
Infra Housing Pvt

Ltd
Cochin
132
http://www.infrahousing.com/
Source: Internet Research
Authors
Saumyajit Roy
Associate Director & Head of Social Infrastructure Practice - Strategic Consulting

saumyajit.roy@ap.jll.com
+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 4
major upcoming senior living projects floated 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 finance and marketing from the Indian School of Business, Hyderabad.
Rita Mishra
Assistant Manager, Social Infrastructure Practice - Strategic Consulting

Rita.mishra@ap.jll.com
+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 Magon
Senior Executive, Social Infrastructure Practice - Strategic Consulting

Harshit.magon@ap.jll.com
+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 Mayank
Assistant Vice President, Research & REIS

himadri.mayank@ap.jll.com
+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 firm in 2008, he has delivered several bespoke research projects
in the office, retail and residential sectors based on specific client requirements.
Himadri holds a bachelors degree from Indian Institute of Technology (IIT), Kharagpur and has over four years of experience in the field 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-profit organisation which aims to promote education for underprivileged through
creativity and creative learning in society.
Ashutosh Limaye
Head Research and REIS

ashutosh.limaye@ap.jll.com
+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, identification of appropriate
modes of private sector participation in infrastructure delivery for large-scale infrastructure and township projects in the urban context, financial cost-benefit
analyses, project formulation and appraisals, and urban land management.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by
expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than USD 2.9
billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm 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 Pacific, with over 20,800 employees operating in 77 offices in 13 countries across the region.
The firm was named the Best Property Consultancy in Asia Pacific at The Asia Pacific Property Awards 2011 in association with Bloomberg Television. For
further information, please visit our website, www.ap.joneslanglasalle.com
About Jones Lang LaSalle India
Jones Lang LaSalle is Indias premier and largest professional services firm 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,
the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, analytics,
consultancy, transactions, project and development services, integrated facility management, property and asset management, sustainability, warehousing
and logistics, capital markets, residential, hotels, health care, senior living, education and retail advisory.
For further information, please visit www.joneslanglasalle.co.in
Jones Lang LaSalle offices

AHMEDABAD
tel +91 79 4004 7769
BANGALORE
tel +91 80 41182900
fax +91 80 41182901
CHANDIGARH
tel +91 172 3047650
fax +91 172 3044212
CHENNAI
tel +91 44 42993000
fax +91 44 42993001
GURGAON
tel +91 124 4605000
fax +91 124 4605001
KOLKATA
tel +91 33 22273293
fax +91 33 22276934
COIMBATORE
tel +91 422 2544433
fax +91 422 2544422
HYDERABAD
tel +91 40 40409100
fax +91 40 40409101
MUMBAI
tel +91 22 24828400
fax: +91 22 24941321
DELHI
tel +91 11 43317070
fax +91 11 43317071
KOCHI
tel +91 484 3018652
fax +91 484 4029394
tel +91 22 66581000

fax+91 22 66581003
PUNE
tel +91 20 40196100
fax +91 20 40196101
COPYRIGHT JONES LANG LASALLE All rights reserved. No part of this publication may be published without prior written permission from Jones Lang LaSalle.
The information in this publication should be regarded solely as a general guide. Whilst care has been taken in its preparation no representation is made or responsibility accepted for the accuracy of the whole or any
part. We stress that forecasting is a problematical exercise which at best should be regarded as an indicative assessment of possibilities rather than absolute certainties. The process of making forward projections
involves assumptions regarding numerous variables which are acutely sensitive to changing conditions, variations in any one of which may significantly affect the outcome, and we draw your attention to this factor.

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Senior Living Sector in India

An idea whose time has arrived!

 On Point Senior Living Sector in India

On Point Senior Living Sector in India 

Estimated that the population

Old Age Dependency Ratio

Estimated seniors need

 On Point Senior Living Sector in India

Senior Housing Segment in a Global

Increasing life expectancy, decreasing fertility rate, lower mortality

amongst urban households, who in the last 20 years have

Seniors need specialized housing catering to their needs. What

On Point Senior Living Sector in India 

Although India is still younger than USA and Japan from a

Figure 1: Projected Growth in Number of Seniors in India

The Emerging Need for Senior

Source: Census of India, NSSO Projections, JLL analysis

Figure 2: Increase in Literacy Amongst Seniors in India

Source: Census of India, NSSO Projections, JLL analysis

Figure 3: Population Pyramid - Elders Increasing with Time

Source: Census of India, NSSO Projections, JLL analysis

 On Point Senior Living Sector in India

Addressing Needs of the Senior

Figure 4: Needs of the Senior Population

Besides catering to basic needs such as housing, nutrition,

Source: Jones Lang LaSalle Education, Healthcare and Senior Living

physical disability, difficulty to access transport, quality healthcare

Figure 5: Needs of the Senior Population

Crimes against seniors

Day to day bill payments

Loss of sense of security

Day to day shopping

Children staying abroad

Source: Jones Lang LaSalle Education, Healthcare and Senior Living

Key Challenges in the Senior Living

On Point Senior Living Sector in India 

other financial innovations which can have a far reaching impact on

Levels of Care in Senior Housing

As seniors move from being young seniors to elder seniors from

Skilled Nursing Care

 On Point Senior Living Sector in India

Top 6 Age Related Changes

Active Adult, able to take

Active Adult, but needing

Need continuous medical

Enter in an independent villa or

Assisted Living Spaces

Skilled or Nursing Care

Continuing Care Community

Staff available for taking care in

Equipped to address 24 hour

All common facilities

Assistance in non medical, non

Near Medical environment for

Home like atmosphere, smaller

Lesser unit sizes meant for

1 2 bed room with larger

Interiors are friendly and

Comfortable support system

Ideal for short stay post

Age in Place concept

Meant for 50+ population

On Point Senior Living Sector in India 

On Point Senior Living Sector in India

On Point Senior Living Sector in India

On Point Senior Living Sector in India

On Point Senior Living Sector in India

On Point Senior Living Sector in India

On Point Senior Living Sector in India

On Point Senior Living Sector in India

On Point Senior Living Sector in India

Tier Cities / Towns