Developers target India’s growing senior population with specialised housing projects, anticipating a $12-15 billion market by 2030
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Dimple Bhati
With India’s silver population projected to double to 346 million by 2030, according to a JLL report, a growing number of developers are beelining to address the housing needs of senior citizens. Projects such as Antara by Max Group, Riva by Tata Housing, Parkside by Brigade in Bengaluru’s Devanahalli, and Saral Satya by DS Group in Noida are being designed specifically for this demographic.
Rajit Mehta, MD and CEO of Antara Senior Care, describes the trend as the next big wave in real estate, comparable to how co-working and co-living disrupted urban housing models. “This is not just a demand-driven segment; it’s also a compelling new business story,” he said.
Shifting preferences
Multiple factors are influencing the evolution of senior living in India: rising life expectancy, the growing prevalence of age-related health conditions, the breakdown of joint families, and rapid urbanisation. Increasingly, elderly individuals, especially those from well-travelled or NRI families, are seeking communities that offer a mix of independence, healthcare access, and social connection.
Presently, India has an estimated 18,000 units in the organised senior living and care segment. The southern region leads the supply with a 62 per cent share, driven by cities like Chennai, Bengaluru, and Coimbatore that offer favourable weather, robust healthcare systems, and a high base of NRI households. The north — including Haryana, Rajasthan, Uttarakhand, and parts of Uttar Pradesh — accounts for 25 per cent, while Maharashtra and Gujarat contribute the remaining 13 per cent, according to CBRE Chairman Anshuman Magazine.
Developers eye the market
Brigade Group, for instance, has announced a luxury residential and senior living project in Mysuru, where 25 per cent of the units will be reserved for senior-friendly spaces. “We see this as a strategic growth area and are actively exploring more such projects in Bengaluru, Chennai, and Hyderabad,” said Viswa Prathap Desu, COO (Residential), Brigade Group. The company has already tied up with healthcare partners like St. John’s Medical College and Ramaiah Memorial Hospital to strengthen its offerings.
Tata Housing’s Riva project on Tumkur Road in Bengaluru has sold out, according to its official website. DS Group’s Saral Satya project in Greater Noida has completed its first phase and offers luxury facilities tailored to senior citizens.
Antara started its senior living with Dehradun with 197 units, all sold out. While its Noida project, comprising 564 units, has seen 314 sold in the first phase. The next phase of 220 units is expected to launch soon. The company’s third project is an intergenerational model located along the Dwarka Expressway in Gurgaon. Plans are underway to expand into Chandigarh and South India, with a target to set up 10 to 12 communities across India’s top cities by 2030, confirmed Mehta.
A market with gaps
“The demand is immense, but the supply is still catching up,” said Mehta. According to JLL estimates, there is a requirement of 18 lakh senior living units by 2030, but current supply is just 50,000–60,000 units. That’s a $3–4 billion market today, with potential to reach $12–15 billion.
The target audience is also evolving. In Noida, many buyers are aged 55–65, planning ahead for a comfortable retirement, while in Dehradun, most residents are in their late 60s or early 70s. In Gurgaon, professionals many still working are opting in early, anticipating a lifestyle transition over the next five to six years, Mehta said.
However, the segment is not without challenges. “Only a miniscule percentage of the elderly have pension schemes or long-term savings. Many rely on their children or limited retirement corpus,” added Mehta. He added that there are also no robust insurance products that cover assisted living or monthly care expenses post 65–70 years of age. “Another issue is the absence of well-defined regulatory frameworks and standards for senior care in India.”
Beyond the metros
While big players are focused on metro cities, others like Axon Developers are expanding into semi-urban and tourist locations. “The market is largely unorganised with little presence beyond metros,” said Ankit Kansal of Axon. The company is developing retirement homes in Sindhudurg, North Goa, Tilari, Chamba, Rishikesh, and Ayodhya, and is planning future projects along the Delhi–Jaipur Expressway, Coorg, and Alwar.
Published on May 5, 2025
