Guidelines for regulation of retirement homes to ensure ease of living for senior citizens
Taking cognizance of a large number of complaints relating to poor delivery of services despite collection of high maintenance charges from senior citizens residing in retirement homes, the Centre has issued guidelines for their regulation and decided to recognise the asset class as a real estate project subject to all provisions of RERA. "The Model Guidelines for Development and Regulation of Retirement Homes shall work as a template for state governments and urban local areas and help regulate retirement homes. They will ensure ease of living for senior citizens. From approximately 7.6 crore in 2001, the number of senior citizens in India has increased to 10.4 crore in 2011. This number is expected to grow to 17.3 crore by 2025 and about 24 crores by 2050. By the end of the century, senior citizens will constitute nearly 34 percent of the total population of the country," said housing and urban affairs minister Hardeep Puri on March 6. It will enable an appropriate regulatory environment wherein the rights of senior citizens are protected and their special needs are addressed. It will bring investment in this special category of real estate, wherein demand is expected to grow steadily, said Durga Shanker Mishra, secretary, MoHUA.
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