- 08:23 PM Experts hail draft GST paper but want octroi to be...
- 07:45 PM IPO scam: SEBI bars Pyramid Saimira for 7 years
- 06:49 PM Weak dollar leads to strong equity markets
- 06:46 PM Orissa orders 69 mines to stop operations
- 06:42 PM Do not buy HOEC: Rajen Shah
- 06:38 PM Sun Pharma sues Zydus Cadila for trademark violati...
- 06:37 PM Loganadan under weight on Real Estate
- 06:19 PM SEBI bars Pyramid Saimira from securities mkt for ...
- 06:00 PM JSW Steel has target of Rs 890: Gujral
- 05:50 PM Chambal Fertilizers has support at Rs 47-48: Gujra...



Daljit and Swaran Mongia were left alone in Delhi, when their daughters left for the US. After shuttling between India and the US, even trying to live alone for a while, both opted to stay in Godhuli, a senior citizens home run by an NGO, Servants of People Society of India. It has been a good decision for them.
“Running your own house is also problematic at our age. Alternatively we decided that a senior citizen home would be a better place” says Mongia, Resident of Godhuli.
|
RSS feed for news Click here |
“I really feel very blessed. I feel God has been very kind to us. We have come to the right place. All our needs are met here," says his wife.
Care of parents in India traditionally, a chance responsibility, is changing with the growth of nuclear families. With old age support infrastructure getting better in metro cities, well off parents with a paying capacity, have begun to look at these options.
Recently India has seen a growing number of retirement homes especially across the state capitals. So, are we going the western way in terms of caring for our elderly?
"The concept of a retirement home is very new in India. We had a joint family system which is breaking very rapidly now," says Shashank Paranjape, Managing Director of Paranjape Schemes and Construction Limited, who also runs the Athashree retirement home, in Pune and Bangalore.
“I think the atmosphere and the ambience are the main things. Quality of food is another thing. The atmosphere and the type of persons he wants to live with, is important as well. If he is an educated person he can’t live in a single sitting room where all uneducated people are living," says Onkar Nath Gupta, Honorary Coordinator, Godhuli.
What are actually the differences between an old age home and a retirement home? According to Paranjape, there are no major differences between retirement homes and old age homes.
"Tradionally, old age homes are based on charity. They lack basic amenities and they just care for shelter and food. Retirement home is a way of life, a totally different lifestyle, where everything is taken care of, including health, food, and recreation. What you really get in retirement homes is hundreds of same age good neighbours and good friends for life," says Paranjape.
An elderly person may have a choice of a furnished single or a double room in a senior citizens home. This will cost between USD 7000 to USD 11500 (Rs 3-5 lakh) If you want to rent it, it will set you back by USD 58 to USD 60 (Rs 2,500-3,000). Utility charges are extra. For a Government run home, this range is between USD 2300 to USD 3700 (Rs 1-1.6 lakh). In addition a private home may charge you initial one time deposit ranging upto USD 11500 (Rs 5 lakh) which is necessarily refundable. A complete furnished apartment generally located on the outskirts of the city will set you back by USD 14000 going up to USD 115000 (Rs 6-50 lakh).
Says Gupta, “We try to give all possible help and services to the senior residents. We have a day and night nurse on duty. We have a doctor coming in the morning for an hour." According to him, the facilities in the room include, a bed with mattress, two chairs, one bedside table, one center table, two mirrors and attached bathrooms. The electricity and telephone facilities are billed according to the usage.
Support infrastructure for those who stay at home is available. Verify attendance and domestic help, registering oneself with a local police station also ensures a steady vigil. There are a number of electronic gadgets in the market that can be installed to make the elderly safer.
Sushma and her husband are concerned that a regular old age home will not suit her elderly father. They are looking for something along the lines of a community center for the people aged 50 plus, one that will have more than just the basic amenities . How does one get to know about these places? How do they find out where do they go and where do they look?
Says Paranjape, "A lot of construction companies are thinking very seriously now, to start these retirement homes. Most probably they would really have to surf on the net and they would land up in the right direction and the right choice."
Regarding the admission procedure for NRIs who want to enroll their elderly parents in a retirement home, Paranjape explains, "They have to find out the agency who is putting up these senior citizens homes. The procedure is pretty similar to booking an apartment. What you really need to know is go through their brochures, talk at line with them and go through the entire agreement procedure."
Facilities provided these days include have entertainment facilities, health facilities etc. The homes also have their own kitchens, dinning rooms, sometimes a well equipped ambulance and tie-ups with hospitals.
How do you actually estimate the price bracket when selecting a retirement home?
According to Paranjape, if you are looking at these extra facilities, they come at a premium price. "I think the range is pretty wide in India. It starts from around Rs 4 lakh to anything like Rs 30 lakh, and Rs 40 lakh for a small independent bungalow type structure. But most of the people, NRIs and Indian seniors, are going for a range between Rs 15 lakh to Rs 25 lakh. That is the range to expect with these amenities," he says.
|
|


Today's Special Column
with Ashok Gulati
International Food Policy Research Institute , Director in Asia


-
Most Read
-
Most Viewed
- 10 companies that MF managers love
- Sensex may drift down to 12500, -ve on RIL: Shankar Sharma

- 10 Companies that FIIs love
- Experts pick stocks/sectors to buy ahead

- Sudarshan Sukhani's top five picks for today's trade

- Ganeshaspeaks: Market prediction for Nov 10
- Ashwani Gujral's top 5 picks for trade today

- What are Ashish Chugh's hidden gems for Nov?

- Experts hail draft GST paper but want octroi to be subsumed
Source: Moneycontrol.com
- IPO scam: SEBI bars Pyramid Saimira for 7 years
Source: CNBC-TV18
- Weak dollar leads to strong equity markets
Source: CNBC-TV18
- Do not buy HOEC: Rajen Shah
Source: CNBC-TV18
- Kochi port urges Govt to lift palm oil import ban
Source: Business Line
- Punj Lloyd signs JV agreement with Delta Solar
Source: Business Line
- IL&FS renegotiates Maytas Infra debt package with lenders
Source: Business Line
- Neyveli Lignite to set up wind power project
Source: Business Line





















