OLD AGE HOME

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What is the relevance of Old Age Homes in India?

Many factors have contributed to the alienation of the elders.

*  Migration of  young couples from the rural areas to cities  in search of better employment opportunities to fend for themselves.

*  Elders who have been in control of the household for a long time are unwilling to give up the responsibility to their children.

*  Youngsters on their part are sometimes aggrieved of the attitude of their parents.

* Many youngsters have moved to places far away from their native homes and in the recent past to many countries abroad. So even if they  want to they cannot accommodate their parents in  their  own homes.

*  Elders are sometimes disabled or unwell to look  after themselves or get medical care especially in an emergency.

All these have made the old age homes seem more relevant  in the Indian context than ever before.

The concept of senior living has been gaining traction in recent years owing to the migration of Indians and the breakdown of the joint family model.

However, most senior care options are mostly geared towards the upper-middle class. The low-cost options leave a lot to be desired.

The concept of senior living or rather old age homes, is relatively new to India, has been gaining popularity in recent times and with apt reasons.

There were approx 14 crores citizens above the age of 60 in India in 2018, according to the Ministry of Social Justice and Empowerment, and the number is expected to reach 21 crores by 2030.

Now-a-days, as nuclear families are in abundance, the safety offering to old people by the joint family model is fragmenting. India has also seen a ripple of migration in the last few years as younger generation wants better opportunities in urban cities and overseas stature, leaving their parents and grandparents behind. More and more senior people are living alone- which makes them jeopardy to crime and depression.

And this problem seems to get worse. People above aged 60 are expected to account for 25% of India’s population by 2050.

This urges Indian Govt. to begin developing an industrial framework to address the problem in the recent past, by promoting foreign participation and co-opting the western model of senior living which marries real estate development with at-home care.

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Description

OLD AGE HOME
[EIRI/EDPR/0426] (J.C.:8008)

CONTENTS

INTRODUCTION
RESIDENTIAL CONSTRUCTION
PRESENT MARKET POSITION OF OLD AGE HOMES
OLD AGE HOMES
DESIGN OF BUILDING
OLD AGE HOMES COME OF AGE
POLICIES THAT FACILITATE THE ELDERLY
NATIONAL POLICY ON OLDER PERSONS
OLD AGE AND INCOME SECURITY
REVISION OF THE SCHEMES OF THE MINISTRY
STRATEGY
PRIVILEGES AND BENEFITS
OLD AGE AND WIDOW PENSION IN STATE
WIDOW PENSION IN STATE
ANNAPURNA
LAY OUT PLANT FOR OLD AGE HOME
FLOW DIAGRAM
UTILITIES AND MAINTENANCE
FOR CENTRALISED WATER HEATING THROUGH SOLAR ENERGY

APPENDIX – A:
1. COST OF PLANT ECONOMICS
2. LAND & BUILDING
3. PLANT AND MACHINERY
4. FIXED CAPITAL INVESTMENT
5. RAW MATERIAL
6. SALARY AND WAGES
7. UTILITIES AND OVERHEADS
8. TOTAL WORKING CAPITAL
9. COST OF PRODUCTION
10. PROFITABILITY ANALYSIS
11. BREAK EVEN POINT
12. RESOURCES OF FINANCE
13. INTEREST CHART
14. DEPRECIATION CHART
15. CASH FLOW STATEMENT
16. PROJECTED BALANCE SHEET

Additional information

Plant Capacity

Old Age Home (38 Members)

Land & Building

Area 1150 Sq.Mtr Rs. 63.12 Lacs

Plant and Machinery

Rs. 2.13 Lacs

Working Capital for 1 Month

Rs. 1.39 Lacs

Total Capital Investment

Rs. 81.14 Lacs

Rate of Return

18%

Break Even Point

47%