Beyond ownership: renting costs in senior communities

While ownership provides security, leasing ensures flexibility but at a higher monthly cost

- Shipra Singh

At 82, R.V. Rajan, a retired advertising professional from Chennai, moved to Nana Nani Homes in Coimbatore, a senior living community, trading the chores of running his own home for convenience and independence. "Ageing has brought health challenges, and I often worried about becoming dependent on my children. Choosing a senior living community felt like the right step," he said.

Instead of buying, he opted to rent, paying ₹13,000 for a flat owned by a Bengaluru resident. "I did not want to invest my own money in property at this age. Selling my fixed deposits would have eaten into my capital, and I prefer living off the interest without depending on my children."

Rajan is part of a growing group of Indian retirees leasing or renting senior living homes. For many, it preserves liquidity, avoids succession issues, or lets them test community living without locking in capital.

In Bengaluru, 78-year-old Prabha Madhavan says leasing was as much psychological as financial. "I could not afford an apartment, and my children won't have to find buyers for a niche property." She has lived at Vedaanta Godrej E-City since 2023, paying ₹39,000 a month for a one-bedroom apartment with rent, maintenance, food, and medical services, along with a ₹5 lakh refundable deposit.