A Workshop on Retirement Communities sponsored by Harmony Eldercare Pvt. Ltd. & Satvik Properties LLC was conducted by Old is Gold Store- a store for Senior Citizens on 8th of May 2014, specifically for senior citizens to create more awareness about retirement communities, their pros and cons, and other associated topics.
While retirement communities are not new to developed nations, they are a relatively new concept to India. As a result neither the promoters nor the potential purchasers are aware of actually what support and services a retirement home should provide. This workshop was designed to dispel some of the myths and provide clear information on how to evaluate a retirement community.
The workshop held at Raga Sudha Hall, Mylapore was well attended with over 130 senior citizens turning up for the 3 hour workshop on a cloudy, pleasant afternoon. The workshop was kicked off by a welcome address by Jayashree KP, Director of Old is Gold Store.
This was followed by an introductory talk on retirement communities by Sanjay Dattatri, Director – Old is Gold Store. The participants were also given a copy of a detailed retirement community evaluation form for the use of senior citizens interested in moving into a retirement community. More copies of the evaluation form are available at Old is Gold Store.
The third session was a lively presentation on the benefits of reverse mortgage. Many senior citizens who has unsuccessfully tried applying for reverse mortgage demanded answers from Mr. B Prabhu, Deputy Manager of National Housing Bank who patiently answered all the questions and cleared many doubts. Of the many important points that Mr. Prabhu touched upon, one of the most important was about which banks to approach. Mr. Prabhu highlighted the fact that only Zonal offices have managers dedicated to reverse mortgage and for best results people should approach the zonal branches of nationalized banks (or branches with a Chief Manager or above).
Ms. Sabita Radhakrishna then addressed the audience and explained about Udhavi, the volunteer group that aims to provide companionship and support to senior citizens.
Finally, after a sumptuous snack break, the audience participated very vocally in the panel discussion and open house that was moderated by actor and TV presenter Ms. Shylaja Chetlur. The panelist, Raj Sitaraman, Director Marketing of Harmony eldercare, Mr. Hari S of Satvik Property Services, Mr. Prabhu of NHB and Sanjay Dattatri and KP Jayashree from Old is Gold Store, answered various questions posed by the audience.
The meeting ended with a vote of thanks.