Top Cities to invest and purchase senior-friendly retirement homes in India.

Today Senior Living Homes are blooming in India, building confidence among the senior generation to cherish their lives independently. Ashiana Housing is one of the best senior living homes located in different cities in India, enables the elders to experience the quintessence of aging amid the likeminded Senior Citizens, in the most convenient and senior-friendly infrastructure.

Breaking all the norms, and choosing the right city to retire in – is a huge one. These Senior Living Homes makes a huge difference in the elderly lives and there are several concerns to be addressed like – standards of living, affordability, accessible health care facilities, distance from children, safety rates, overall weather and more. Priorities may differ from one individual to another.

Currently, the trend of senior living homes is being shifted from the ‘one size fits all’ approach to person’s individual choice to live independently and get personalized care and housing after their retirement. This led to the concept of ‘Senior living homes or Retirement Homes’. The idea of elderly people living independently with an array of amenities and features geared for seniors, under custom-tailored circumstances. Here are some of the India’s best cities to grow old in:

Lavasa, a hill-station near PuneOne out of the many other things that make Pune an ideal city to grow old in (including the easy connectivity to Mumbai), is its all-year-round healthy climate. Pune often ranked on the first position on all lists that rank the top places to retire in India. What makes Lavasa all the more unique is that it’s a pleasing hill-station, away from the hustle and bustle of the city. The rolling green hills, wide expansive spaces make it feel like a slice of paradise. Affordable medical aid and availability of quality senior-friendly homes in an affordable cost makes Lavasa an ideal choice for the retirees.

Bhiwadi

Bhiwadi is located just 40 km from Gurgaon; it is witnessing a shift from its erstwhile image as a mere industrial area to a destination with full-fledged real estate viability. Being a part of the Delhi-Mumbai Industrial Corridor (DMIC), it is now acknowledged a great choice for potential real-estate investors. Bhiwadi was the first mover in the senior housing segment in India offering affordable senior housing options with quality lifestyle. Its success helped to drive out the perception that senior housing is similar to old age homes. Bhiwadi’s experiment has served as a case study on providing lifestyle living to the elders after their retirement. Hence, it comes as no surprise that there is a major retiree population in this city with communities like Ashiana Nirmay and Utsav housing 800+ seniors.

Jaipur

Jaipur is the capital city of Rajasthan also known as the Pink City, that manages to straddle the old and the new with ease. Jaipur is a bustling tourist centre and a commercial zone all wrapped into one, offering all the amenities and facilities of a metropolitan city. It is one of the top destinations for retirees not just from India, but also overseas. A large number of seniors from the UK, USA, and other countries prefer Jaipur to spend their retirement years for the congestion-free roads, ample parking facilities, expansive open areas, plenty of health clubs and a lot more.

Chennai

Chennai is considered as a retirement haven for elders as the trend in Southern India is changing. Social infrastructure, Affordable lower living costs compared to the other metros like Bangalore, Mumbai, and Delhi, Chennai offers a safe and secure space for the retirees to spend their golden years. It is also considered as the health capital of India. Availability of modern healthcare facilities, skilled nursing, no waiting periods at hospitals make seniors choose Chennai to retire.

Coimbatore

Coimbatore is the second largest city in Tamil Nadu that has allegedly emerged as one of the top retirement cities in the country for offering excellent healthcare facilities and pleasant climatic conditions, as well as the development of several retirement communities.

Bangalore

Bangalore is also known as the Silicon Valley of India, it is not the first destination that comes to mind when considering retirement. Though the city is notorious from insane traffic jams, high costs of living, but it also has plenty of options going for it, to be considered by seniors looking to retire. With a plethora of medical institutions offering world-class healthcare all around the city and efficient and modern commercial and social infrastructure, makes Bangalore aneasy to make friends, even after retirement.

Mumbai

Just like Bangalore, Mumbai is another top metro city that is an unlikely contender in the race for the best cities to retire in. The drawbacks of Mumbai are similar to Bangalore – sky-high property prices, congestion, traffic, pollution and the chaos of a big city. But it can be considered if you have family residing in the city, or if you prefer cities to spend your retirement years then Mumbai may be a good choice for you to retire in

You cannot choose the best city that works for all retirees as everyone has different need and requirements. There are several factors you should consider while you look for a retirement home–proximity to family, finances, healthcare, amenities, preferences and more. Make sure to consider the pros and cons of each city as mentioned above and pick the right retirement destination that makes it possible for you to enjoy the golden years of your life in serenity and happiness.

Things to keep in mind while you rent Your Property.

It is not just the tenants who need to be well-researched before moving out into a new property but the landlords who are looking to rent out their apartment also needs to keep certain factors in mind when renting their property. A majority of people would agree that renting a property in Jaipur and Delhi is not a child’s play. It could become a serious headache if not done properly. So, if you are landlord planning to give your property on rent, here is checklists that will help you think about how to prevent conflicts before they arise and make the process smooth for you:

Fix the rent:

The best way to keep any probable dispute out of the way is to bring transparency just when you decide to rent your property. The first and foremost step in this process is fixing the rent amount. It is crucial because in such a competitive market you can’t ask for more than the market rate so it is advised that you do a proper research about the current market trends. And if you’re planning to fix the rent higher than the market trends you should ensure that you offer premium services that are not provided by others.

Rent Agreement:

It is essential that all documents are in place with a clear message as a new property is rented and you make a legal contract when giving your property on rent. You should ensure that all the documents are duly signed and the terms and conditions are clearly put across and both the parties should comply with the mutually agreed conditions. Signing a rent agreement is the best solution to avoid any hassles happens later between the two and to make the process smooth and appropriate for both landlord and tenant.

Register the Lease:

After preparing the rent agreement or the lease agreement, the most significant task is to get it registered. As per Rajeev Aggarwal, partner, R. A. Law Co. Advocates & Consultants, every lease agreement should get registered because only then it can be used as evidence in the court in case of any litigation. However, as per Section 17 of the Registration Act 1908, it is necessary to get the lease agreement registered only if the lease period is more than 11 months.

Hire a professional:

It is advised to hire a professional broker who can help you by making your property known to people so that they can reach you in case they need to rent the property. Hiring a broker can smoothen the whole process of finding you the right tenant. Also, they provide all necessary resale and rental services including creating agreements and other paperwork and tenant verification. Though their services come at a cost, but the whole process becomes hassle-free and less time-consuming for both landlord and the tenant.

Police verification:

After finalizing the tenant, it is important that you have a background check of the tenant, make sure you don’t miss out on this point. Police verification is a must the police will keep a copy of all the documents submitted by you and the tenant for their reference. If the tenant has any history of any kind of criminal activities, it is bound to surface. Not doing the police verification is also a punishable offence under Section 188 of the India Penal Code. This is a useful process to check the tenant’s background as it lowers the risk of giving rent to a person from a criminal background. Above mentioned are few tips to ensure you understand your responsibilities as a landlord, know how to protect your property, and keep your tenants happy dealing with any issues that may arise.

Is It Wise To Invest In Property Following The Upcoming Indian Real Estate Trends Of 2019 – 2020?

Real estate investment is purchasing a property with the intention of earning income through rental income or resale, rather than as a primary residence. It is the purchase of a future income stream from property and can offer several advantages over other types of investments, including potentially higher returns, stability, inflation hedging, and diversification. Property Real estate investors typically purchase homes to rent out to tenants, apartment buildings, and commercial buildings. Here are some of the key aspects that need to be considered while you invest in real estate market in 2019 and 2020.

Compared to other investments like bank deposits, gold, and so on, real estate investment offers greater growth. There is always a remarkable demand for real estate in India. As per the researchers this sector aims to reach a figure of $180 billion by the year 2020. Even though the real estate sector is likely to have a rough year, new trends are expected to emerge in the coming years. In the last couple of years, affordable accommodation is the only segment where transactions seem to be happening. The trend is expected to be maintained in 2019 and 2020 as well. The heartening aspect is that both residential and commercial real estate are gaining importance today and we are able to see an uptick in affordable housing sector—both from supply and demand side—which leads us to believe that it would be a key driver for the residential sector in coming times,” said by the real estate consultant Shishir Baijal, chairman and managing director, Knight Frank India.

In the approaching year, there will be a huge scope to invest in real estate. The Government has facilitated the growth of the real estate sector by introducing massive changes in the taxation and regulatory aspects of real estate. The setting up of the RERA is one step took towards streamlining real estate business and ensuring that the buyers get full value for the money they are spending in acquiring a home. The RERA norms might be stringent but it has ensured lot of transparency to deal in real estate. It also made sure that credible developers alone will be able to survive in this industry. “Affordable Housing” has been given the much needed emphasis by the government and government incentives to both developers and homebuyers are pushing supply as well as demand within the segment.

With the introduction of various reforms, there was also a major change in the concept of building by adding new innovations and pro professional builders providing homebuyers theme based projects like – comfort homes, senior homes, kid-centric homes, and more. Additionally, the new builders have incorporated technology and other amenities like smart lighting, 24 x 7 CCTV surveillance, power back-up, clubhouses, swimming pools, outdoor parks, and several other amenities to enhance the value proposition of their offerings.

In a nutshell investing in real estate in Delhi NCR is the perfect instrument for securing your future today. There is a tremendous demand for leasing out these apartments on rent. It is a perfect way to recover your investment and watch the value of the asset appreciate in the future. Investing in top-notch projects like the Ashiana housing projects presents a win-win situation for all.