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D C Srivastava, who retired from Oil and Natural gas Corporation, has travelled all over the country and lived in several cities. He was in Mumbai for 13 years prior to retirement in 2007.
After retirement he chose to settle in Pune, despite having his own house in his home town, Dehradun. "While Dehradun is also a good retirement hub, I preferred Pune because it is closer to Mumbai and I was used to the city life. Even now, despite several IT (information technology) companies coming up here, life is still peaceful as compared to Mumbai,'' he says.
Good medical facilities and easy connectivity within the city are some of the other reasons that Srivastava choose Pune. It also helped that one of his daughters was already settled there. "I did think of buying a house in Mumbai like some of my friends. But since the city is very congested and crowded, we would never have been able to meet frequently. So, I decided to settle in Pune, since it offered all the comforts without a hectic pace of life," Srivastava adds. (Click for table)
Apart from real estate prices, these are some of the typical reasons determining the choice of location for a post-retirement life, says Shveta Jain, executive director, residential services, Cushman & Wakefield. "After spending most of the working life in a metro city, people want to buy a property that is not expensive but offers a similar lifestyle and allows them some savings. So, real estate cost is one of the key deciding factors,'' she says.
Cities that offer retirement homes or townships are also becoming popular, says Samir Jasuja, Founder and chief executive, PropEquity. "Such townships often spring up in the peripheral locations of a city, where they are still close enough to amenities like hospitals and shopping centers but away from the city congestion. Proximity to nature like green hilly areas, lakes and beaches is often counted as another advantage. That is why Panshet or Lavasa near Pune, Lonavala near Mumbai, TVS Nagar on Thadagam Road, Coimbatore, Miramar in Goa, etc, are popular places to stay in after retirement,'' he says.
Some cities that were previous favourites, like Bangalore, have lost due to poor infrastructure. Jain says, "While Bangalore is still attractive due to the good weather, the city has become too congested now and infrastructure is a challenge. It is now leaning more towards the working class population because of the increasing job opportunities, especially in the IT sector."
Business Standard did a poll with three property consultancies - Jones Lang Lasallee, Cushman & Wakefield and PropEquity - and came up with six cities where prices are reasonable and and there are necessary amenities for those looking for a retirement home.
PUNE
Pune is the original pensioner's paradise, says Anuj Puri, chairman and country head, Jones Lang LaSalle India. "It ranks high on healthcare, climate and friendlier property rates than neighbouring Mumbai. Given the huge number of educational institutions, as well as employment hubs, settling in Pune works for the entire family. Besides, many residential projects are geared specifically towards senior citizens," he says.
Locations
Talegaon, Aundh, Mundhwa, Kharadi, Balewadi, the area around National Institute of Banking and Management, Balewadi, Wagholi, Undri, Pisoli, Kondhwa, Manjri, Hadapsar, Vadgaon, Chakan, Kane Phata, Lavasa and Vimannagar
COIMBATORE AND KOCHI
The reasons for people settling in the south can be varied, like pleasant weather, a comparatively lesser crime rate from North India, availability of huge land parcels facilitating the development of townships with abundant open spaces, an end-user driven realty market keeping a check on speculative prices, etc.The sultry climate suits many senior citizens with health problems. Healthcare facilities and a good selection of senior living and retirement communities are available.
Locations in Coimbatore
Mettupalayam Road, Sathyamangalam Road, Thadagam Road, Saravanampatty, Thudialur, Karuparampalayam Pirvu, Trichy Road, Ukkadam, Kovaipudur and Rs Puram
Locations in Kochi
Kakkanad, Pukkattupady, Aluva, Edapally, Kalamassery, Thiruvaniyoor, Kadvanthara, Kaloor, Maradu, Tripunithara
CHANDIGARH
Being a planned city, infrastructure is good. There is easy access to all parts of the city. It is relatively pollution-free. It also has good healthcare institutions. The social infrastructure, for instance a robust club life, is also a big attraction.
Locations
Sector 19, Dera Bassi, Kharar-Banur Road, SAS Nagar, Sector 66, Sector 62, Sector 60
BANGALORE
The great climate and excellent healthcare are still big draws for this former garden city. Properties are available in all budget ranges. Though infrastructure has not kept pace with the increasing population, high-end senior living projects cropping up all over still make it one of the popular cities for post-retirement stay.
Locations
Whitefield, Sarjapur Road, Bellary Road, Vidyaranyapura, Magadi Road, Hoskote, Billamaranahalli, BTM Layout, Kannur and Jigani.
DEHRADUN
Dehradun, due to its climate and upcoming premium projects for senior citizens, is becoming popular. Affordable property prices is another reason.
Locations
Rajpur Road, Race Course, Chakrata Road and Indira Nagar
