8 June 2008
Abode of Senior Citizens
Uniqueness of any new commodity is bound to attract attention and the latest fad in real estate is retirement homes. These homes receive fabulous pomp as they provide many facilities with great honour. Typical retirement homes are constructed in locations that are conducive to relaxations and rejuvenation. Initially they met with a lukewarm response but once the concept of retirement homes gained acceptance, there is no looking back and the builders have been continuously expanding the number of homes. Built with an attractive composition of elevation, beautiful balcony and spacious courtyard in the front soothing to the eyes in a sprawling space, the buildings present pompous look. Great care is taken in fixing light fittings, fans and ventilation fittings, painting to match the taste and temperament of aged people. For most of the retirees, Chennai is a paradise of pensioners. A secured environment facilities such as open air theatre, TV and reading room, dining hall and medical facilities for which there is a tie-up with a prominent city hospital etc., meet every conceivable requirement of the occupants to lead a contented life. When contacted the inmates of the retirement homes who were once busy in their activities while serving in various parts of the country as engineers, accountants, bank employees, journalists, they told that their wards had settled in foreign countries and came once in a year to see them. They felt loneliness residing in their ancestral homes and so shifted. They expressed Chennai is the most preferred metro as far as safety point of view. These people like to live in serene environment having lot of open space and beautiful surroundings. The cost of a home may be beyond the reach of many retired persons but the retirement home is continuously expanding. While the initial investment is sizeable, the recurring expenses are moderate. Anna Nagar is the best choice to build retirement homes as it has a fascinating blend of all class of people with enviable mix of parks, banks, shops, hospitals, clubs, hotels, temples, well laid roads with lush green garden residences. What sets this villa apart from many similar facilities is that the residents are the owners of the villas or can rent them from buyers. Retirement home is continuously expanding, the value of earlier investment nearly doubled the current projects, are sold out and is a waiting list for the purchase of retirement villas by the same promoters. Some of the new projects that have been discussed in the office are sold out even before the work started, a leading promoter told. The inmates sojourning the homes enjoy all amenities. Visits to places of worship, parks, cultural programmes and exhibitions are arranged for the residents. Moreover, arrangements are made to lend their honourary services to the society. The builders further told that they did not want to build apartment type retirement homes though it could make the homes more affordable. The elders feel that Anna Nagar has a strong base for becoming a favoured destination of the retirees because of the salubrious surroundings, excellent infrastructure, proximity to CMBT, Omni bus-stand, railway station inside its periphery, many social service clubs, parks, road connectivity to all destinations in the metro. Thus there is a vast potential for real estate developers in Annanagar to exploit this segment.