Senior Living in India: An opportunity gone abegging
The demographic dividend that India intends to exploit, on its stated intent, to be the third largest economy in the world would suffer a major loss, if living for senior citizens is not included into the plans today. Countries like Japan, Monaco, Italy, Germany etc. are consciously wrapping their policies around their aging population. While many developed nations have a third of their population over the age of 60, India’s elderly population is likely to rise to 41% over next decade and expected to touch around 194 mn.
India is progressively moving from the joint family to nuclear family system, where, in most urban families, both husband and wife go to work. The bonding between grandparents and grandchildren is not the same. Middle class Kerala is a good case study, socially as well as for real estate. The vacancy rate of built-up homes is high, senior citizens live alone while their children are working outside the state. There’s very little ‘Senior care’ infrastructure – accommodation, health and social. Thus, there is an ardent need for comfortable senior living, where they do not have to fear the consequences of living by themselves. To top it, senior living is mistaken for old age home.
Old age homes were an act of charity, wherein shelter was attempted to be provided to the homeless, destitute or senior citizen who weren’t cared for, by their progeny. It did not help the cause, since successive governments did not form any law to encourage a life of dignity for the aged through. There was lack of self-sufficient living in senior living facilities, coupled with the ‘Stigma of being accommodated in Old age homes.’
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