Retirement marks a significant transition in life. Starting from working hard to build a life and choosing to leave work life behind permanently, It is time to reap the rewards of hardship and dedication. While some retired people set sail on voyages worldwide, others look forward to spending their time in relaxation and comfort.
While retirement in India offers the option of a shift of pace and opportunities in terms of infrastructure, healthcare facilities, and good connectivity, you must be practical and thoughtful about the shifting times. Around the world, rising inflation, economic instability, and the loss of money value increase the cost of living.
List of the Best Places to Live After Retirement in India
Goa
Known for its stunning beaches, vibrant culture, and laid-back lifestyle, Goa has become a magnet for retirees seeking a peaceful existence. The demand for real estate is increasing rapidly, and investing at the right time can help you plan your future. The attractive destination offers clean air, facilities of all kinds, transportation, and a network. The weather also does not turn cold, and many activities can be explored.
- Cost of Living: Moderate to high
- Monthly Rent: Approximately 20K for a 3BHK
- Air Quality: Good
- Climate: Tropical and sunny as it is close to water bodies
- Public Transport System: Transportation in South & North Goa is mostly via taxis, which can be expensive. However, scooters on rent are easily available
- Medical Facilities: Goa has good hospitals with modern facilities, internationally qualified doctors, and trained staff.
Pune
Another place for retirement in India is Pune, where traditions meet modernity. Known as the “Oxford of the East,” Pune balances traditional charm and modern amenities. The city is known for its affordability, amenities, and robust educational and healthcare facilities. Pune holds a historic charm of its own. Easy travel and pleasant weather are add-ons.
- Cost of Living: Moderate to high (for a family)
- Monthly Rent: Approximately 20-40K for a 3BHK
- Air Quality: Moderate
- Climate: Summers can be extremely hot. Winters are pleasant
- Public Transport System: Buses and autos are available for moving in and around Pune
- Medical Facilities: More than 550 medical centers. Pune is emerging as a top city in the healthcare sector
Coimbatore
Nestled in Tamil Nadu, Coimbatore is gaining popularity as a retirement destination. The city offers a peaceful atmosphere and a comfortable lifestyle. The cost of living is also not too high compared to other major cities. Coimbatore is growing at an unprecedented pace and already has a pleasant climate, access to quality healthcare, and well-developed infrastructure, making it an excellent choice for retirees seeking a peaceful yet dynamic setting.
- Cost of Living: Low to moderate
- Monthly Rent: Approximately 20K for a 3BHK
- Air Quality: Good
- Climate: Summers are dry and humid. Usually hot all year round.
- Public Transport System: Buses are available at a good frequency, for in and around Coimbatore and even out-station
- Medical Facilities: Coimbatore is known for good healthcare facilities and experienced doctors
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Dehradun
Dehradun is next on our list of places to live after Retirement in India. Stepping into the foothills of the Himalayas, Dehradun offers a tranquil environment and pleasant weather. The city provides good healthcare facilities, a low crime rate, and a range of outdoor activities, making it ideal for retirees who enjoy a slower pace of life. It is a well-connected transportation network that ensures easy access to essential services. There are many other places that you can also consider.
- Cost of Living: Moderate
- Monthly Rent: Approximately 25-30K for a 3BHK
- Air Quality: Good
- Climate: Summers are pleasant, and winters get colder towards December-January
- Public Transport System: Buses and auto rickshaws are available for traveling within Dehradun
- Medical Facilities: Dehradun has many reputed hospitals and a good healthcare set-up
Chandigarh
Located in the heart of north India, the small towns of Punjab and the upcoming cities like Panchkula, Mohali, and Chandigarh are growing rapidly. A green city with lush houses and spacious buildings has been the ideal target for many retirement homes. Not to forget the proximity of the Himalayan range. Also known as the first planned city of India, it is growing rapidly. According to reports, Chandigarh has, in recent years, opened its doors to many investors and buyers. The city is easily accessible by public transport, train, air, or private vehicles.
- Cost of Living: Moderate to high (for a family)
- Monthly Rent: Approximately 25-30K for a 2BHK
- Air Quality: Good
- Climate: Summers are pleasant, and winters get colder towards December-January
- Public Transport System: All places are easily accessible via auto-rickshaws
- Medical Facilities: Good medical facilities
Some key factors to consider while evaluating retirement destinations:
- Cost of Living: Choosing your place and spending habits define your expenses. The lower the cost of living, the more you save on your retirement savings. Expenses in this category include groceries, housing, healthcare, entertainment, and transportation. Based on your monthly expenses, this needs to be factored in.
- Healthcare Facilities: Easy access to healthcare facilities should be one of your top factors. Having healthcare facilities nearby is essential. Retirement can also bring unforeseen health changes, and there should be no compromise on healthcare systems and doctors.
- Air Quality and Climate: Would you choose to live in a bustling and fast-paced metropolis or a quiet, cold place? Consider a climate that suits your preferences and helps maintain peace of mind.
- Infrastructure: Most of the cities in India are now growing as smart cities. But keep in mind the basic amenities like water, electricity, modes of transportation, and much more. Access to these basic requirements gives you less stress and a more leisurely lifestyle. Always remember that this can also burn a hole in your pocket. Public transportation and connectivity are also needed.
- Safety: There has been an increase in crime rates, as cited in reports. Consider the average crime rate and opt for a place with effective police. This experience helps ensure a stress-free and secure retirement.
- Social Life and Recreational Activities: After retirement, everyone has a way of keeping themselves occupied. Some would be interested in cultural beliefs, while others might enjoy an active community. This decision helps you decide your lifestyle.
If you plan your retirement in India, you can look forward to relaxing, traveling, pursuing hobbies, experiencing new adventures, and much more. But to strike a healthy balance between affordability and quality of life, it is important to weigh factors related to finances and your requirements.
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FAQs
What factors should someone consider when choosing the best place to live after retirement in India based on finances?
When considering places to live after retirement in India, you should factor in the cost of living, healthcare facilities, proximity to amenities, safety, climate, and access to social activities.
Are there any states in India that provide specific benefits for retirees?
Yes, states like Kerala and Goa are known for their retiree-friendly environments. Kerala offers quality healthcare services, a pleasant climate, and a relaxed lifestyle. Goa is known for its beautiful beaches and vibrant expat community.
How do I assess the cost of living in different cities for retirement?
Research the average housing, groceries, transportation, healthcare, and entertainment costs in your chosen cities. Online cost-of-living calculators can also help you make informed comparisons.
I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.