Talegaon: An attractive location for senior living

With easy accessibility to Mumbai and Pune, Talegaon has emerged as an attractive destination for senior living projects. We look at the advantages that this location offers

Rajeev Singh, a retired employee of a PSU bank, lives in a real estate project that is specially developed for senior citizens, near Pimpri. Singh, who lost his wife a few years back, has a daughter who is married and settled in New York. “I cannot imagine living in my previous home, all alone, although it was in the main Pune city. Here, I get all the facilities, including food, community and care that I require at this age. I also get some privacy that is not available in an old-age home,” he explains. Singh is among an increasing number of retirees, who prefer to live in a location which is away from the city area and yet, is easily accessible, with ample facilities for them.

 

The market for senior living projects in India and at Talegaon

Talegaon is one such location that is easily accessible from Mumbai, Pune and Nashik. With life becoming more challenging in big metro cities, a place like Talegaon offers a huge opportunity for senior living housing projects and second homes. Often, children who work in Mumbai or Pune, do not get much time to spend with their parents and take care of their needs. Moreover, in small apartments, parents are at risk of falling sick due to the absence of daylight. So, Talegaon is emerging as an attractive destination for senior living projects, by serving the needs of people living in Mumbai and Pune.

According to a research report, the population of senior citizens will grow more than three times in the next three decades, as compared to their population in 2011. Business hubs like Mumbai and Pune, would accommodate large working populations. The cost of living for senior individuals, would rise manifold in these cities and the air quality, transport and infrastructure, may not be suitable for their health and lifestyle.

“While a substantial proportion of seniors want to live in the city, in proximity to their children, the emergence of nuclear families and space constraints in top metros create social challenges. Elders living in the outskirts of the city, on one hand enjoy the peaceful, expansive environment and on the other hand, the benefits that the city life provides, such as super-specialty hospitals, among others,” explains Ramesh Nair, CEO and country head, JLL India.

See also: Talegaon: An emerging property market that caters to all segments

 

What drives demand for senior living housing projects in Talegaon?

Talegaon is a city away from the city, which means you can get everything that a metro city like Mumbai and Pune have to offer and at the same time, a better lifestyle. Factors that drive the demand for senior living housing in Talegaon are:

Affordability: Senior citizens require an affordable option and at the same time, the facilities should be at par with luxury projects. Property prices in Talegaon are around half the rate of a similar property in Pune and one-third that of a property in Mumbai. Hence, Talegaon is very attractive for senior citizens. With several upcoming projects in the town, senior citizens have ample choice.

Availability of ample land bank: Cities like Mumbai and Pune have limited availability of land. Therefore, seniors may not get facilities like parks, walking areas, green zones, pathways, etc. In Talegaon, there is ample land available, to develop the entire project to be senior-citizen friendly.

Easy access to hospitals: There are several big hospitals in the Talegaon area. Consequently, senior citizens do not need to worry about their health, because they can get proper treatment locally.

Pollution-free environment: While pollution is a big concern for every one of us, it can severely impact the health of senior people. A pollution-free environment may not be possible in cities like Mumbai, at least in the near future. So, Talegaon offers good opportunities for people who give preference to clean air.

“When planning for retirement, it becomes very important to reduce regular expenses. You cannot cut your expenses without compromising on your lifestyle, if you live in metro cities such as Mumbai or Pune. However, if you opt to live in a destination like Talegaon, which is not only economical but also offers high quality physical and social infrastructure for the senior citizens, then, you can get an excellent lifestyle without any financial stress,” suggests Raj Shah, director of the Namrata Group.

According to JLL Research, an increasing number of developers are venturing into the senior living space of the Indian market. While most of the projects being launched in this space are holistically dedicated to senior citizens, many developers are also launching integrated townships, wherein a proportion of the total units is dedicated to senior living, along with generic residential development. So, if you want to buy a home that is suitable for senior living around Pune or Mumbai, projects in Talegaon could be an affordable bet and easily accessible for buyers in both the cities.

 

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