The Moneycontrol Real Estate show | Need to plan for your senior living asset at least 5-10 years before retirement? Tune in!

In this episode of The Moneycontrol Real Estate show, Moneycontrol's Vandana Ramnani talks to Ankur Gupta, joint managing director, Ashiana Housing, who explains how senior living is different from the concept of old age homes and who should buy into the housing segment.

His advice is that people nearing retirement should consider buying into senior living housing. “At least 5-10 years before retirement is the best time to invest in this asset class as you would have better chances of getting a home loan, ” he explains.

He says that maintenance charges in a senior living housing complex are higher than a conventional housing complex. “It ranges from Rs 3 per sq ft to Rs 10 per sq ft, depending on the facilities on offer,” he says.

As for appreciation and resale of these units, he points out that appreciation of these properties is a function of supply and demand. A senior living project in Chennai which was selling for Rs 3200 per sq ft in 2016, is now going for Rs 5000 per sq ft, he signs off.