India's Retirement Homes Boom Amid Elderly Population Surge
Retirement homes, often managed by realtors, are gaining popularity in India, offering a range of services from accommodation to medical care. This trend is driven by a growing elderly population and the increasing demand for support services. However, challenges such as affordability and abuse cases persist.
India's elderly population is booming, with around 150 million people over 60 today, expected to reach 350 million by 2050. This demographic shift has led to a rise in retirement homes, providing residential accommodation, social interactions, and on-call medical facilities. Organizations like HelpAge India and local NGOs support abandoned elderly, offering shelter, healthcare, and social support.
Technological advancements are also entering the care sector, supplementing human care with robotic and AI solutions. Meanwhile, the Maharashtra government has reduced stamp duty on properties for senior living to boost availability and affordability. The Maintenance and Welfare of Parents and Senior Citizens Act, along with NGOs, aim to protect and care for the elderly. Multi-generational living communities are also gaining preference, benefiting residents of all ages.
Despite these developments, there are concerns. Cases of abuse and abandonment are increasing, with senior citizens often left in public places by family members. The global elder care industry is expected to reach $1,400 billion by 2030, presenting opportunities but also highlighting the need for improved care.
As India's elderly population grows, so does the need for adequate care and support. While retirement homes and technological solutions offer promising avenues, affordability and abuse remain significant challenges. Initiatives like Kerala's draft policy for elder care, focusing on community care and accessible healthcare, can help address these issues. It's crucial to ensure the representation of elders in media and culture is sensitive and appropriate, avoiding stereotypes.
