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The Coronavirus pandemic has changed home buyers’ criteria for selecting the location for buying a home. In normal practice, the suitability of a residential location depends on the buyer’s age, profession, distance from the office, affordability, availability of infrastructure and so on. However, post-COVID-19, buyers are likely to consider a few more aspects seriously, while selecting their home location, such as the availability of ample space for maintaining social distancing and adequate medical facilities.
For example, senior citizens looking for a home in Pune or Mumbai, may feel far more comfortable if they lived in a destination like Talegaon, which is close to both, Mumbai and Pune. There are many other reasons which make Talegaon the safest place to live for senior citizens during/after the pandemic.
Before we look at why properties in Talegaon are the best option for senior citizens, let us look at the surge witnessed in the demand for senior living homes in India.
Surge in demand for senior living in India
“The elderly population in India is growing. The United Nations Population Fund (UNFPA) has projected that the percentage of Indians over the age of 60, will increase from 8% in 2015 to 19% in 2050,” says a report, titled ‘Infrastructure development leading to economic growth, changing land use patterns and opening up new investment options’, by Colliers International India.
“These senior citizens’ need for housing, presents a huge opportunity for real estate developers. Senior living projects already exist on the outskirts of tier-1 cities, as well as in tier-2 and tier-3 cities that have lower traffic congestion, large land parcels and easy accessibility to healthcare facilities,” says the report.
Experts believe that the demand for senior living will increase gradually, because metros are getting more congested, while senior citizens require a good environment for their health. Consequently, the demand for senior living is expected to grow in areas outside metros, such as Talegaon, near Pune.
There are several reasons for buying a home for senior living in Talegaon.
“Social distancing is now the most important feature that every buyer would seek, when buying a home. In metros, the homes are usually small, the areas around the property are not spacious and the roads are congested. So, it is not easy to maintain social distancing. In a place like Talegaon, one gets a lot of space to move around,” points out Raj Shah, director, Namrata Group.
Doctors have cautioned that even when the COVID-19 pandemic is over, elderly citizens will need to follow a high level of precaution. The importance of social and physical infrastructure, will be crucial post-COVID-19. Talegaon has excellent social and physical infrastructure available, somewhat at par with Mumbai and Pune.
Proximity to Pune and Mumbai
There are a large number of people who live in Pune and Mumbai with their parents. Once the offices open up completely and they start going to their workplace, it would be difficult for them to ensure their parents’ safety. Living in a small apartment, could lead to greater health complications for senior citizens. For such people, Talegaon offers a great opportunity. Their parents can live in Talegaon with greater safety.
As the distance among these cities is not too much, working children can drive down, to be with their parents during the weekends, as well as holidays.
Why senior citizens would prefer to live in Talegaon after the pandemic?