Getting An Indian Visa
India offers a vast array of visas, many of them tailored to people with a specific vocation or people from a specific country. There is no retirement visa as such. However, there are several visas that will allow you to stay in India for extended periods. One option is to get a standard tourist visa. This allows you to stay in the country for 180 days at a time. To renew the visa, youll have to return home and not re-enter India for two months. You may repeat this process as much as youd like for up to six years. After that period, youll have to reapply for the tourist visa.
Another option is a business visa that lets a person stay in the country for a year or for the length of an employment contract.
There is also a visa for people of Indian origin. People of Indian origin are individuals who have held Indian nationality in the past, are the spouse of someone with Indian origin, or a spouse or dependent of someone who has a long-term Indian visa. These individuals can stay in India for up to five years.
How To Retire In India: Costs Visas And More
India is known for its vibrant culture, with food, architecture and colorful festivals contributing to a cultural smorgasbord with a millenia-old history. Whether youre a city dweller, a mountain climber, or a beach bum, India has something for you. All these options, paired with a low cost of living in comparison to the United States, make India a potentially appealing option for those seeing to retire overseas. Heres what you need to know before you retire in India.
Real Estate Developers Are Offering Senior Living Housing Projects On Outright Sale Or Lease Basis
Southern cities such as Bengaluru, Chennai, Kochi, and Coimbatore take up 70 percent share of the overall senior living real estate projects in India, a report by Housing.com titled The Silver Economy – A Perspective on Senior Living in India, said.
Geographically, most senior living projects in India are concentrated in the southern cities, with Bengaluru, Chennai, Kochi, and Coimbatore leading the tally, followed by the west and north, it said.
The report noted that a significant number of senior citizens have started looking for retirement homes in the range of Rs 1-2 crore. The preferred configuration continues to be 2BHK apartments in the less than Rs 45 lakh price bracket, it said.
Globally, senior living has emerged as a strong residential real estate segment, especially in developed countries which have older population profiles. In India, while the segment is still in the nascent stage, the concept has taken roots in the past two decades.
Population ageing is one of the four major global demographic megatrends along with population growth, international migration, and urbanisation. Currently, there are 0.8 billion people aged 65 years or over, which is projected to increase to 1.5 billion by 2050, registering a staggering growth of 113 percent, the report noted.
He said that the sheer size of the population in this age group presents a huge investment potential in this niche space.
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Goa: Best Place To Retire In India With Beaches
Recognized for its beautiful beaches, nightlife and water sports, Goa is not just an all-year-round spot for your dream vacation. As a matter of fact, it is an ideal place for your retirement days. Ranking high in the list of 10 best places to retire in India, Goa offers a wholesome quality because of its humble and fun vibe. The nations hottest destination welcomes the elderly population with a fantastic cultural mix, exquisite Goan food, affordable healthcare and serene retirement colonies where you can, in fact, mingle with like-minded people for company. Check out the details below to make an informed decision.
- Median Monthly Rent: 15k to 40k for a 2-3 BHK flat
- Property Purchase Cost: 2+ Cr for a villa or a bungalow
- Air Quality: Good
- Public Transport Facilities: Bad
- Life Quality Index: Good
- Popular Real Estate Companies: Monteiro Spaces Real Estate Pvt Ltd, Monteiro Spaces Real Estate Pvt Ltd, Monteiro Spaces Real Estate Pvt Ltd
Ooty: Best Hillstation To Live And Retire In South India
Referred to as Queen of the Hills, Ooty is a resort town that has been a popular choice among elderlies for decades. It has a pleasant to cold climate all year round and boasts of scenic beauties like the Nilgiri hills, picturesque lakes, plantations and colonial sights. A haven for nature lovers, there are enough activities to enjoy and sights to see in this quaint little town. Enjoy the panoramic views from Doddabeta peak, eat rest and relax at the boathouse in Pykara lake, check out the Toda huts and explore a lot more! People here are humble and will help you get anything you require.
Ooty has plenty of living options if you want to live a secluded life, but for retirees, it is advisable to live in a community or around market areas for support. Furthermore, inspection is essential to check the steepness of the hill if you plan to rent or buy a house on it. Getting a geographical review will also help in knowing the advantages and disadvantages of the area. Healthcare is decent, though people looking for advanced care prefer to live in nearby cities with better medical facilities.
Due to the enormous demand, it is easy to find retirement communities in this town, and it is an excellent choice of settlement. You will find like-minded people here who can help you with the essential services you need to live a fruitful life among the pleasant hills of Ooty.
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Retirement Havens In India: Top 5
Coimbatore, Tamil Nadu: The Textile Capital of India, Coimbatore is the second largest city of Tamil Nadu. With a bustling cosmopolitan culture, Coimbatore is a low pollution city. The cost of living is low and healthcare is exemplary here. The weather here is uniform throughout the year and the great connectivity of the city with a rapid infrastructure growth are also reasons why Coimbatore is the best place to live in Tamil Nadu after retirement. Also, one of the best in India.
Pondicherry: Nearby to Tamil Nadu, the French Colonial Settlement Pondicherry is an Indian Union Territory. Famous for its crystal clear beaches, French style cafes and Architecture and a laid back lifestyle, Pondicherry has recently established many retirement homes around the city like Aishwaryam, Covai and Serene Pelican. Pondicherry offers a healthy and active lifestyle with an impressive infrastructure, healthcare and serene spiritual connect.
Rishikesh, Uttarakhand: Resting on the foothills of Garhwal Hills by the banks of the holy ganga, lies the small hamlet, Rishikesh. Temples are scattered like stars on the incessantly calm skies of the city. Filled with the aura of alternative healing and medicine centres, the spiritual city of Rishikesh can be a perfect abode for retirees inclined towards a spiritual way of life.
Few Drawbacks Of Retiring In India
No country is spared from its negative aspects. Hence, ex-pats might find it tough to make it among Indians as many cultures coexist in the cities. Adjusting to such an intense change is daunting at first. For instance, few places in India are less polluted and metro cities are considered the worst affected by traffic. Although, infrastructure is fast developing in urban areas, yet suburban places still face road and rail problems.
Security and privacy are a concern for women, therefore new settlers might not feel safe from the prying eyes of curious strangers or sometimes even nosy neighbours. However, privacy and space are often no issue in big cities and ex-pat communities. People visiting tourist spots will have to clutch their wallets tightly because of the theft rate in some places.
India is thus, for the adventurer, the poet and the seeker who likes to be surprised with colours, food, spirituality, festivals, history and exotic cultures. Moreover, it is for people who want to surf through life surrounded by excitement and humility. Whether its at the beaches of Goa, crowded pubs of Mumbai, chilly hills of Pune or among the holy temples of Rishikesh, you can find your nirvana post-retirement right here.
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Tips For Achieving Your Retirement Goals
- No matter where you want to retire, you should consider working with a financial advisor to prepare. Finding the right financial advisor that fits your needs doesnt have to be hard. SmartAssets free tool matches you with financial advisors in your area in five minutes. If youre ready to be matched with local advisors that will help you achieve your financial goals, get started now.
- Its tough to plan for your retirement if you arent sure what kind of costs youll have when you retire. To get an idea of what to expect, stop by our retirement calculator. To use this, youll need a few details about where you want to retire, when you want to retire and how much you have in savings.
Brigade Parkside: With A Tagline That Says Zindagi Ab Milee Dobara Brigade Parkside Presents Independent Living For Seniors In North East And West Bangalore The Core Idea Behind The Project Is That We All Reminisce About The Good Old Days When We Had No Worries When All That We Cared About Were The Good Times We Spent With Our Besties The Project Aims To Give Those Golden Days Back To Its Senior Residents They Offer 1 And 2 Bedroom Luxury Homes That Are Quite Unlike The Usual Retirement Homes And Also Complemented By 8 Specialised Services To Ensure An Enriched Lifestyle These Gated Communities Are Decked With All Desirable Luxurious Amenities Including A Gymnasium With Senior
Parkside is thoughtfully designed for the forever young at heart and located strategically across prime locations. Effectively, these Parksides are the only senior centric homes within city limits of Bangalore. Parkside North is in Jalahalli, Parkside East is on Sarjupur Road while Parkside West is located on Mysore Road.
All Parkside properties are under-construction and priced almost similar. 1 Bedroom homes are priced at 40 Lakhs onwards while 2 Bedroom Homes are priced at 63 Lakhs onwards.
Find out more:www.parksidebybrigade.com
Urbana Irene by Covai: With 170 senior friendly apartments it is a part of 200 acres integrated township witha multi-specialitytertiary hospital, 5 Star Hotel, and other amenities developed by the Ozone Group near the Bangalore International Airport. Block C is handed over already and basic services are in place. Full-fledged services will be available fromthe first week of May 2019. A few 2BHK apartments costing Rs.44.89 lakhs are available for sale.
To find out more:
Athashri: Located in Whitefield, this is another known name in retirement homes. Prices range from Rs 12.8 lakhs to Rs 71 lakhs. The construction is senior-friendly, with regular maintenance and housekeeping provided. Add to that, medical facilities, bill payment and other services.
Primus Lifespaces has two senior living properties in Bangalore.
Find out more:
KODAIKANALThis beautiful hill station is located in Tamil Nadu.
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Mumbai: Best City To Retire In India
Mumbai is a fantastic abode for those who love to bask in a youthful ball of energy since it is rightfully known as the city which never sleeps. As a result, in this city, you will often find the sea shoreline brimming with life as people of all ages come together to chat, share a meal and enjoy windy evenings. Moreover, you will come across people out for a stroll at 3 am! The nightlife here is cheerful and entire families step out to have a good time come Fridays. As a result, age is absolutely no bar at the clubs lined up in the streets of this city which makes Mumbai among the best places in India to live and retire.
- Monthly Rent: 35k to 65k for a 2-3 BHK flat
- Property Purchase Cost: 5+ Cr for a villa or a bungalow
- Air Quality: Moderate
- Cost of Living: Very High
- Health and Safety: Safe
- Public Transport Facilities: Good
- Life Quality Index: Average
- Popular Real Estate Companies: Skyline Group Real Estate Company Mumbai, Spacio Realtors & Advisors Pvt. Ltd, Fairdeal Realtors Pvt Ltd
The Visionary Behind Covaicare
Colonel A Sridharan, VSM after retiring from the army in 1995, forayed into real estate development business in Coimbatore. In 2001, Covai Property Centre Private Limited was incorporated.
The seamless transition of Covai to CovaiCare® has been made possible mainly because of the visionary leadership of the Colonel. His foresight has been acknowledged in the senior segment. The retirement community developed way back in 2004, received a Platinum rating by IGBC in 2018, becoming Indias first retirement community to get the Platinum rating.
Colonel Sridharan has authored many concepts in senior living and care that cater to the Indian market.
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Rishikesh: Best Spiritual Place To Retire In India
The Holy land of Rishikesh is the epitome of spirituality for the eternal seeker. As a result, aspirants from all places in India and abroad have known to come here amidst nature, to retire, practice spirituality and do community work, away from all temptations of the city life. It is also a famous hub for alternative medicine including, therapies, Ayurveda, Meditation and Yoga. For adventurists, trekking, as well as gardening, are among a few options to let off some steam. Therefore, a retiree can spend his/her golden years here, building a healthy body, mind and a sense of communityfinally, experienced caregivers and fantastic hospitality aid a comfortable stay.
- Monthly Rent: 15k to 30k for a 2-3 BHK flat
- Property Purchase Cost: 2+ Cr for a villa or a bungalow
- Air Quality: Good
- Public Transport Facilities: Good
- Life Quality Index: Good
- Popular Real Estate Companies:The Lions Crew, Sairaj Real Estate Company, Full Basket Property Services Pvt Ltd
Housing And Other Costs Of Living In India
Foreign nationals cant legally buy property in India unless they have earned legal residence in the country for 180 days per year. Its also illegal to buy property on a tourist visa or to purchase property jointly with an Indian national, person of Indian origin, or a non-resident Indian.
Foreigners may rent homes in India. The cost of rent in India is 86.49% lower than the cost of living in the U.S., according to Numbeo, a cost-of-living calculator. The national average for a one-bedroom apartment in the average city center of India is about $167.17 per month. This is compared to the national average of a one-bedroom apartment in the U.S., which is about $1,360.70 per month. For those who want more space, the national average of a three-bedroom apartment in the city center is $369.90 per month. That contrasts with the national average in the U.S. of $2,209.10 per month.
To be more specific, the rent in Goa, a hotspot for retirees, is about $355.49 per month for a three-bedroom apartment. In New York, a similar apartment would cost $6,601 per month.
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How Much Money Do You Need To Retire Comfortably In India
Finding a good place in India to stay after retirement is not an easy job. Every place has its own special magnetism that pulls people towards them. Putting a number on this sentiment cant be justified. However, to give an idea, the major metro cities will drain at least 1.5 Lakh to 3 Lakh per month depending on the cost of living of the chosen city. Also, the same amount can be brought down to 1 Lakh on the higher end if you want a decent retired life in small towns. Again, some NRIs can drag this up to 3 Lakhs even in a small town.
The trick here is understanding your living standards and choosing a place of retirement and the amount necessary as per your requirements and then working for it. You can double up your savings if you know the right channels of investments. SBNRI can guide you through top 5 investment opportunities for NRIs in India. You can also visit our blog for more insights on investments.
The entire journey from leaving ones home and returning is full of a hurricane of emotions. We, at SBNRI treasure them and aim to make your life easier and more convenient until you retire peacefully and enjoy the benefits with a smile on your face.
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What Sorts Of Activities Can One Expect In A Retirement Home Or An Assisted Living Feature
At senior housing communities, along with exercises and nursing care, to provide an active lifestyle without crumbling down to the foils of age, and overcoming stress, the Older citizens are made to engage in community activities such as gardening, learning music, or a foreign language and various other forms of entertainment without hurting their integrity and freedom.
According to demographics, an average Indian’s age falls around 29 years, which makes us one of the youngest nations in the world compared to the rest. So along with catering home buying options to the young populace, many of the reputed realtors are turning their gazes upon the senior citizens. By providing retirement options now, they seek to gain goodwill which will ensure that decades into the future, their investment will double as the current generation would mature.
However, certain factors should be taken into account for a secure, productive and independent community to thrive like the continuum of care, skilled nursing care and rehabilitation. The best Old age homes in India are equipped with an extensive healthcare system, complete with community aging and social activities.
Another major factor contributing to the success of the Old age homes in India is their location. As most seniors prefer solitude rather than the bustles of the city, they often seek a peaceful suburb more than the comforts of a city. However, being near to cities would give an edge to immediate healthcare assistance.
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