maintenance costs as compared
with larger properties on land are
driving this trend.Future
This industry is at very nascent
stage in India now. It had got some
recognition in the last five to six
years. There are very few players in
this segment and has huge potential
for players like Aamoksh to provide
the healthy, comfort and leisure liv-
ing to the senior population. They
deserve better services what they
were used to.
According to Jones Lang LaSalle
(JLL) report on Senior Living, India
needs 300,000 units of old-age lei-
sure living homes.
It has the growth potential of 20
per cent over the years. The total an-
nounced units in the organised sec-
tor are 6000. There is huge demand
and supply gap in this segment.
But, it’s not been very easy to sell
products as the market is quite new
and apprehensive, the people are
not used to senior living concept as
a country. This market needs educa-
tion and explanation because peo-
ple still have the notion of old-age
home as the places for destitute inin getting land much easier and
helps senior citizen living much eas-
ier and affordable.
The service tax which is levied on
these facilities that we as a service
provider give is a huge roadblock in
encouraging healthy and comfort
senior level living because they are
not used to paying service tax on
these amenities at homes. People
end up paying 20 per cent more for
these basic services.
Government should provide a tax
rebate for the senior level living as
players like Aamoksh wants to pro-
mote old-age living as lifestyleRetirement
H
omes
solitary and dingy state.
Due to migration, lots of senior
were left behind and security re-
mained a major concern for the sen-
ior population.Price range
The Aamoksh One Eighty property
at Kodaikanal starts at Rs 40 lakh
for a villa and it goes up to Rs 1 crore,
whereas their second under con-
struction entity at Kasauli begins at
Rs 34 lakh for a studio apartment
and exceeds to Rs 98 lakh for a two-
bedroom. There are packages de-
pending upon the lifestyle of the us-
ers and the minimum age is 55 years
of either person to get entitled for
possession of our two properties. In
case of the death, these free-hold
properties could be sold out by their
heirs, hold back or rent us back. The
next generation could also move in
when they turn to that age.Government support
If government could do something
around that, it would be very helpful
for the sector. In a master plan, they
should start giving space for the
senior level facilities like they give to
a school, hospital. That will help us