India discovers retirement villages

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America’s Goldman Sachs and India’s Tata Group (India’s largest Corporation) are investing heavily in retirement villages. Goldman Sachs is one company behind the 180 unit Athashri retirement community in the city of Pune, which enjoys better weather than the nearby Mumbai. They now have six villages with 1,500 families. Each home cost approximately $72,000.

Jones Lang LaSalle estimates the current annual demand for senior homes across 135 Indian cities at 312,000 compared to just 10,000 to 15,000 new homes in retirement developments. The number of people aged over 60 is expected to double to 173 million by 2025.

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